ABIDJAN, Nov. 25 (Xinhua) -- Côte d'Ivoire raised five billion euros on the European capital market at the end of an appeal for eurobonds to finance its budget for the year, the Ivorian government announced on Wednesday.

“At the end of the operation, 211 investors subscribed for more than five billion euros,” said government spokesperson Sidi Tiémoko Touré at the end of a council of ministers.

According to Mr. Touré, “on Monday, November 23, the government launched an appeal for Eurobonds for one billion euros as part of its strategy to mobilize financial resources for the year”.

“This shows that Côte d'Ivoire inspires confidence,” the government spokesperson commented.

As part of the 2021 budget adopted at 8.415.4 billion CFA francs (15.3 billion USD), the authorities had announced that they would mobilize 1.492 billion FCFA (2.7 billion USD) on the financial markets, including 1.002 billion FCFA (1.8 billion USD) on the West African Economic and Monetary Union (UEMOA) market.

In 2018, to finance the State budget, the government raised 1,115 billion FCFA (1.7 billion euros) through the issuance of a two-tier Eurobond on the international financial markets.