As global debt burdens mount and threaten to crowd out spending on children, Côte d’Ivoire brought a provocative question to New York: how can a country borrow without mortgaging its future? The answer, presented during two high-level UNICEF gatherings on September 21 and 22, 2026, lies in a financing approach that ties repayment conditions to measurable development outcomes.
Dr. Souleymane Diarrassouba, Minister of Planning and Development, used both platforms to share his country’s experience and the deliberate choices made to shield investments in human capital from the pressures of rising indebtedness.
A sustainability-linked loan that rewrites the rules
On the first day, the Minister joined discussions under the Learn AI Global Compact, a UNICEF initiative themed “Responsible artificial intelligence for every learner.” The focus was on how Côte d’Ivoire has linked its borrowing to sustainability targets.
In 2025, the country adopted a dedicated framework and secured a €433.3 million loan whose financial terms adjust according to results achieved in renewable energy and forest restoration. The transaction benefits from a joint guarantee from the International Bank for Reconstruction and Development (IBRD) and the Multilateral Investment Guarantee Agency (MIGA). It stands as West Africa’s first sovereign sustainability-linked loan.
In New York, officials explored whether this model could be extended to human capital through a similar sustainability-linked bond, with financial conditions tied to learning outcomes measured at the national level.
Such a mechanism demands reliable, verifiable learning indicators and cautious financial risk management. Loan maturity must align with the lifespan of the investments it finances. Child data protection and the accountability of states and teachers in pedagogical decisions also feature among the principles Côte d’Ivoire has championed.
Digital ambitions meet financial innovation
The National Development Plan 2026-2030 foresees expanded use of digital tools and artificial intelligence, particularly in education and training. Côte d’Ivoire has signaled its readiness to continue working with UNICEF and Learn AI Global Compact partners on verifiable learning metrics and a suitable guarantee mechanism.
Facing the debt dilemma head-on
On September 22, the Minister addressed a second high-level UNICEF meeting on debt, development and future generations.
UNICEF estimates that nearly 400 million children live in countries where debt burdens are growing faster than investments in health, education and nutrition.
Diarrassouba reiterated Côte d’Ivoire’s position: the impact of debt on populations hinges on how it is allocated, structured and priced.
The PND 2026-2030 provides the reference framework for this policy. It prioritizes human capital, skills and employment while setting targets for maternal and child health, universal health coverage, social protection and improving the human capital index.
At the same time, Côte d’Ivoire pursues debt management grounded in risk control, fiscal sustainability and the pursuit of better financing terms.
A debt swap that puts education first
In 2024, with support from the World Bank Group, the country executed a debt-for-development swap. Nearly €400 million in commercial debt was refinanced. The operation is expected to free up roughly €330 million in budgetary resources over five years, with a significant share earmarked for education through national budget mechanisms.
“A debt with a human face is not a debt erased,” Diarrassouba declared. “It is a debt whose allocation, structure and cost serve health, education and the protection of children.”
Through these two interventions, Côte d’Ivoire outlined the choices guiding its development financing policy: preserve debt sustainability, channel resources toward national priorities and explore new instruments when they can advance the goals of the PND 2026-2030. Education, health, social protection and, more broadly, human capital development remain at the heart of these priorities.
