The AfDB to grant $4 billion to the Sahel for stability and economic growth

Report
from African Development Bank
Published on 05 Nov 2013 View Original

The African Development Bank (AfDB) will grant $4 billion to the Sahel to make it a region of stability of economic growth. This pronouncement was made by AfDB President Donald Kaberuka on November 5 in Bamako, Mali, at the Ministerial Meeting to establish a platform of coordination for the United Nations integrated strategy for the Sahel. The AfDB President was in the region within the framework of a joint mission of the AfDB, United Nations, World Bank, African Union and European Union. He also paid visits to Niger, Burkina Faso and Chad.

Of the $4 billion, $2 billion have already been disbursed as part of ongoing programs in five countries: Mali, Mauritania, Burkina, Niger and Chad. Two billion dollars will be made available to these countries and $950 million for regional energy and transport projects. The AfDB objective is to create integrated economic regions. “We want to emphasize the need for transformational projects in infrastructure, especially in the field of energy,” said Kaberuka.

In his address, the President of the AfDB reaffirmed his institution’s determination in a difficult and uncertain region. “We know that resources are and will always be insufficient, but our determination and our will should meet the expectations of these populations. Financial support alone will not suffice. We need to re-examine our procedures and systems of coordination,” he added.

Kaberuka concluded his address on a note of optimism: “We know that these interventions – whether in the Horn of Africa or in the Great Lakes – are risky. But in order to succeed, we must take risks. Bold and intelligent risk management is the only guarantee for success.”

The Bamako meeting was chaired by the Malian President, Ibrahim Boubacar Keïta, with the participation of partners of the joint mission – the United Nations, African Union, World Bank and the European Union.