It is a boost for Africa’s infrastructural development agenda after Germany committed $10.8 million to NEPAD.
Through the African Development Bank (AfDB), German Federal Ministry for Economic Cooperation and Development (BMZ) announced the deal towards renovation of the NEPAD – Infrastructure Project Preparation Facility (NEPAD-IPPF) Special Fund.
What’s more, Germany’s support will bolster NEPAD-IPPF’s priority areas such as green, climate-smart infrastructure.
Furthermore, it will strengthen its focus on the second Priority Action Plan of the Programme for Infrastructure Development in Africa for the period 2021-2030.
The funding will also improve Africa’s transformation under the Africa Continental Free Trade Area (AfCFTA) as well as boost regional infrastructure.
“The partnership aims to support infrastructure development with a focus on areas such as climate change, gender, Agenda 2063, and a stronger focus on attaining the Sustainable Development Goals,” said KfW, Director, Christoph Tiskens.
Helmut Gauges, Head of Financial Cooperation in Subsaharan Africa representing KfW and AfDB Vice-President and Chief Financial Officer, Hassatou N’Sele signed the agreement in Berlin.
Growing demand for the fund
Gauges commended the achievements of NEPAD-IPPF and noted the need for more resources with the rising demand for the fund.
“KfW, on behalf of the German Government, is a key partner of the African Development Bank.
Helmut pledged to support facilities as a boost for Africa that will play a key role in economic growth and poverty reduction.
On her part AfDB Vice-President and Chief Financial Officer, Hassatou N’Sele said “As economies in Africa navigate new challenges in the face of overlapping global crises, the support of partners such as Germany will enable the AfDB to deliver on its important development mission.”.
She observed that “With the replenishment of NEPAD-IPPF Special Fund, we are determined to further support our clients while helping them realize their economic potential through increased infrastructure investments, contributing to green growth, inclusion, and job creation,” she said.
In addition, the AfDB Director for Infrastructure and Urban Development, Mike Salawou, said: the support from Germany is an indication of confidence in the Fund’s ability to successfully fulfil its mandate, and recognition that the NEPAD-IPPF is playing a critical role in infrastructure development in Africa.
He called on the stakeholders to expedient to further strengthen the Fund with the necessary resources to enable it to meet its objectives and mandate.
AfDB hosts NEPAD-IPPF, a multi-donor Special Fund, which supports African countries to prepare regional infrastructure projects in energy, transport, ICT and transboundary water.
A number of Donors including Canada, Germany, UK, Spain, Norway and Denmark support NEPAD-IPPF.