Can debt serve education? The question Côte d’Ivoire answered in New York

What if a country’s debt burden could be turned into a tool for educating its children? That was the central question when Dr Souleymane Diarrassouba, Minister of Planning and Development, travelled to New York for two high-level UNICEF meetings on 21 and 22 September 2026. One session examined how artificial intelligence should be financed in education; the other tackled the weight of debt on future generations. Côte d’Ivoire used both platforms to set out its own answers — and the stakes could hardly be higher.

The Learn AI Global Compact: a test case for financing

Speaking on 21 September at the Learn AI Global Compact, a UNICEF initiative built around the theme “Responsible AI for every learner”, the Minister explained how his country approaches financing tied to sustainability outcomes. The question at the heart of the discussion was simple but urgent: who pays for the technology that will shape tomorrow’s classrooms?

A sustainability-linked loan, the first of its kind in West Africa

In 2025, Côte d’Ivoire adopted a dedicated framework and secured a €433.3 million loan whose financial terms shift according to results achieved in renewable energy and forest restoration. The operation carries a joint guarantee from the International Bank for Reconstruction and Development (IBRD) and the Multilateral Investment Guarantee Agency (MIGA). It stands as the first sovereign sustainability-linked loan in West Africa.

Could the same model apply to human capital?

In New York, the Ivorian delegation explored whether this approach could be extended to human capital through a sustainability-linked bond. Under such a mechanism, the loan’s financial conditions would be tied to learning outcomes measured at national level. But the question remains: can learning be measured reliably enough to carry financial consequences?

What it would take

Such a scheme demands reliable, verifiable learning indicators and prudent management of financial risks. The duration of the borrowing must stay aligned with the lifespan of the investments it funds. Côte d’Ivoire also stressed the protection of children’s data and the responsibility of states and teachers in pedagogical choices.

Digital ambitions in the 2026-2030 national plan

The National Development Plan 2026-2030 foresees greater use of digital tools and artificial intelligence, particularly in education and training. Côte d’Ivoire signalled its readiness to continue working with UNICEF and Learn AI Global Compact partners on verifiable learning indicators and a suitable guarantee mechanism.

Debt versus the next generation: where does the money go?

On 22 September, the Minister took part in a second UNICEF high-level meeting on debt, development and future generations. The stakes are stark: according to UNICEF, nearly 400 million children live in countries where debt is growing faster than investment in health, education and nutrition. The question for every government is whether debt becomes a burden on children or an investment in them.

Côte d’Ivoire’s position: it depends on how you borrow

The Minister restated Côte d’Ivoire’s view that debt’s impact on populations hinges on its allocation, structure and cost. The 2026-2030 National Development Plan provides the reference framework for this policy. It gives priority to human capital, skills and employment, and sets targets for maternal and child health, universal health coverage, social protection and improving the human capital index.

Managing debt with risk control and budget discipline

At the same time, Côte d’Ivoire pursues debt management based on risk control, fiscal sustainability and the search for better financing terms. In 2024, with support from the World Bank Group, the country carried out a debt-for-development swap. Nearly €400 million of commercial debt was refinanced. The operation is expected to free up around €330 million in budget resources over five years, a significant share of which is earmarked for education through national budget mechanisms.

“A debt with a human face is not a cancelled debt”

Dr Souleymane Diarrassouba framed the philosophy behind these choices: “A debt with a human face is not a cancelled debt. It is a debt whose allocation, structure and cost serve health, education and the protection of children.”

Through both appearances, Côte d’Ivoire laid out the principles guiding its development financing policy: preserve debt sustainability, direct resources to national priorities and explore new instruments when they can contribute to the goals of the 2026-2030 National Development Plan. Education, health, social protection and, more broadly, human capital development remain at the centre of those priorities. The question now is whether other nations will follow the same path.