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World Bank

Posted by Brian Kenety on 04 February 2010 09:23:56 PM

 

The World Bank last week urged Ivory Coast to capitalize on a more stable post-war climate to reform its ailing cocoa sector, including slashing high taxes on farmers. World Bank President Robert Zoellick was addressing journalists on a trip to Abidjan, to support an electoral process aiming to end years of instability. Zoellick said the World Bank was working with the minister of economy and finance and the minister of planning to help bring about major reforms to the cocoa sector blighted by poor organization since liberalization in 1999-2000, Dow Jones reports. “The taxes have been very high on farmers and this has led to underinvestment in new plants and has lowered some of the quality of production,” Zoellick said while touring a new research and development center opened by Nestle.

 

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Brian Kenety

Journalist and editor with expertise in development issues.

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