• Monday, May 20, 2024
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BusinessDay

African development fund governors support a successful replenishment

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 The African Development Fund’s (ADF) Governors, for Planning and Finance from Côte d’Ivoire, Ghana, Guinea, Liberia, Senegal and Sierra Leone that attended the ADF-13 Presentation Workshop on the Fund’s Priorities and Operational Strategies, in Abidjan, May 14, 2013, have supported a successful replenishment of the fund.

During the meeting, many issues were raised concerning the impact the ADF was having on African countries and its role in the transformation of economies on the continent.

The Bank (http://www.afdb.org) for instance, has delivered rapid budget supports to maintain and restore core basic services to the people in the region, at a time when some countries needed it most.

The governors noted that the ADF was a relevant channel of development financing.

The Bank Group also plays an important role as the convener and voice of Africa.

The ADF strategic orientation and operational priorities are aligned with the Continent’s development agenda and countries’ needs while successive institutional reforms have strengthened the Bank Group’s delivery capacity, responsiveness and results-focus.

The Bank’s work in the field of infrastructure is very important, given Africa’s huge infrastructure potential,” the Governors said.

“We appreciate the establishment and augmenting of the ADF regional operations envelope, which is critical in supporting the Bank’s ambitious regional integration agenda. For many African countries, regional solutions to the provision of public services, such as regional power grids and transportation networks, are more cost effective and provide better services and complement national programs.”