New dawn for Somalia: Arrears owed to the African Development Bank Group cleared

AfDB NEWS & EVENTS

24-Mar-2020

Arrears on loans owed by Somalia to the African Development Bank Group have been cleared following the payment in full of $122.55 million by the governments of the United Kingdom and the European Union, marking the end of sanctions and the resumption of full re-engagement between the Bank Group and the East African nation. 

The long road to resolution of Somalia’s debt arrears began in 2014 and included the completion of three Staff Monitored Programs of the International Monetary Fund, and significant advances on a fourth program.

The process saw the high level of political commitment and consistent engagement of Somali President Mohamed Abdullahi Mohamed 'Farmaajo', and Prime Minister Hassan Ali Khayre. This translated into the implementation of reforms that gave confidence to international financial institutions, including the African Development Bank and the International Monetary Fund.

Speaking on behalf of the Somali government, Minister of Finance, Abdirahman Beileh, said: “The settlement of the arrears of Somalia to the African Development Bank, is a new beginning for us in Somalia. We stuck with our reforms, we were persistent, and it has paid off”.

In response, Bank President Akinwumi Adesina noted that it was a historic moment for Somalia. “I am absolutely delighted that the African Development Bank provided the leadership needed to push for and successfully negotiate the arrears clearance for Somalia. It was a reflection of the power of partnerships and consensus building,” Adesina said.

Adesina further noted, “I commend the government of Somalia for their diligence in implementing reforms, and the UK government and the European Union for paying off Somalia’s arrears to the African Development Bank Group. Together, we got it done for the people of Somalia.”

The Bank Group will immediately provide a new policy-based operation to help boost economic growth and accelerated development of Somalia.

The Bank’s current portfolio in Somalia totals $135 million, covering operations in the agriculture, water and sanitation, transport, social and energy sectors, and capacity building for multiple sectors of the economy.

Ivory Coast: a new generation trained in fish farming in Man, with the support of the African Development Bank

AfDB NEWS & EVENTS

20-Mar-2020

Technical training on the practice of fish farming was provided to 35 young Ivorians from March 12 to 14 in Man, in western Côte d'Ivoire, with financial support from the African Development Bank.

This training took place in the framework of the implementation of the Support for the empowerment of women and young people component of the Strengthening of Electricity Transport and Distribution Networks (PRETD) Project in the Mountain District.

The Support Project for the Empowerment of Women and Youth in the Regions of the Mountain District of PRETD was funded to the tune of 1.07 million euros by the African Development Bank. Led by the public company Côte d'Ivoire Énergies, it is implemented by the Food and Agriculture Organization of the United Nations (FAO) in Côte d'Ivoire.

The training focused on the fundamental knowledge to be acquired in fish farming, pond management, technical routes, mastery of technical tasks and accounting management. “We also made recommendations to them on keeping a farm notebook in order to make their project a success in the medium term. This should allow, in 18 months, to have a new generation of fish farmers, ”assured Habib Coulibaly, trainer.

Raymond Kitandala, energy expert at the African Development Bank, invited the beneficiaries of the training to make the most of the lessons learned. “Apply what you have learned to make the project a success. And this will only be successful when all Ivorians are happy to eat Made in Man fish, ”he advised them.

Olivier Koffi, head of the Transport Networks and Interconnection Department at Côte d'Ivoire Energies, pilot project partner, expressed a feeling of pride "at the desire of young women and men to achieve empowerment. Know that this training is a real opportunity for you, that it is the start of the increase in your income. And if we come back here in six months, we want to see a smile on all faces, ”he said.

"The training was very beneficial for all the beneficiaries," admitted Bernard Toazaman, president of the NGO Association for Development and Renaissance, spokesperson for the listeners. It allowed us to understand that fish farming is not done on the fly. In six months, we will demonstrate that the assistance provided by the African Development Bank and its partners is not fortuitous. We will be a point of reference. "

According to Bernard Toazaman, the project allows a fight against insecurity and unemployment of young people, by the occupation of the latter and the economic take-off of the region. “More importantly, the young people of the Mountain District will no longer have the desire to cross the sea and think of Europe. They all know there are ways to be self-reliant by staying here, ”he concluded. 

About fish farmers:

Janvier Feh (40 years old, Dompleu)

“I am very happy to have taken part in this training. There are many things I could not control like the maintenance of the fry to get enough larvae and produce fish. I also retained the procedure of feeding the fish. I look forward to implementing what I have learned. My goal is to produce a lot of fish and have more income to support my family. ”

Thérèse Oulaï (37, Mahapleu)

“In my ponds, I fed my fry every day and at any time of the day. But today, I understood that we had to wait at least for sunrise. This means that this training was very instructive. It brought us knowledge. I will do my best to respect the instructions because I want to get out of the current suffering and take charge of myself genuinely ”. 

Moïse Uyé Francis (42, Guiglo)

“Through the trainer, who is a successful example in terms of fish farmer, I followed his modules with great interest. I want to thank the African Development Bank and its partners for giving us the opportunity to upgrade. My ambition is to succeed in my activity and above all to teach other people the techniques of fish farming so that they will find their account too. ”

Seychelles: African Development Bank Supports Blue Economy with $800k FAPA grant

AfDB NEWS & EVENTS

19-Mar-2020

The African Development Bank has signed an $800,000 grant agreement with the government of Seychelles to support micro, small and medium enterprises (MSMEs) in its Blue Economy sector.

The package will help Seychelles develop its marine biotechnology sector, strengthen the capacity of public institutions and private operators, create a knowledge platform on emerging business opportunities, and provide technical and financial training to MSMEs.

The $1million project will be financed through a grant from the Fund for African Private Sector Assistance (FAPA), which will provide $800,000 and $200,00 million from the Seychelles government. FAPA is a multi-donor thematic trust fund that provides grant funding for technical assistance and capacity building to support the implementation of the Bank’s Private Sector Development Strategy. The Governments of Japan and Austria, and the African Development Bank are active contributors to the fund.

Seychelles’ Minister for Finance, Trade, Investment and Economic Planning, Ambassador Maurice Loustau-Lalanne, signed a grant agreement  on 13 March in Victoria , with Nnenna Nwabufo, Acting Director General for Eastern Africa Regional Office signing on behalf of the African Development Bank.

The Seychelles’ Blue economy is an important centrepiece of the country’s National Development Strategy 2019-2023. An innovative approach by its government, envisages tapping on the economic potential of Seychelles’ vast exclusive economic zone of 1,374,000 km2, to promote socio-economic development and inclusive growth.

The country’s Blue Economy Strategic Policy and Roadmap prioritizes the development of new and emerging maritime sectors, including marine-based aquaculture, renewable energy, offshore petroleum, and marine biotechnology, with MSMEs being an important vehicle for growth.

Other expected beneficiaries include youth and women engaged in marine biotechnology activities. The project includes training of about 100 entrepreneurs, half of whom should be women, creation of 20 MSMEs in marine biotechnology sector, and the development of MSMEs’ Biotechnology Entrepreneurship Development Strategy.

Coronavirus and Climate Change: Observing World Water Day

AfDB NEWS & EVENTS

A message from Dr. Jennifer Blanke Vice-President, Agriculture, Human and Social Development African Development Bank

23-Mar-2020

The theme of this year’s World Water Day, observed on 22 March, is water and climate change. The issue has taken on greater urgency, given the global spread of coronavirus, also known as COVID-19, responsible for over 13,000 deaths worldwide to date.

Hand washing with soap and water is the first line of protection against coronavirus. Scientists say soap renders coronavirus cells inactive and weakens the virus’ bonds to the skin.

As we commemorate World Water Day today, an estimated 400 million people in Africa still lack access to safe water, while 700 million lack access to proper sanitation.

Another factor compounding these dire statistics is extreme weather events associated with the impact of climate change. Africa bears the brunt of increased frequency and severity of drought, floods and cyclones – perhaps more than other regions of the world – due to the continent’s low capacity to adapt to and mitigate the impacts of climate change.

For example, in the Horn of Africa, drought is exacerbating water scarcity and negatively impacting human health and productivity. According to the United Nations Office for the Coordination of Human Affairs, drought in the Horn of Africa in 2019 left an estimated 11.7 million people severely food insecure and over 785,000 children severely malnourished. The Office notes that escalating food insecurity further heightens risks, especially for women and girls, who must travel longer distances to fetch clean water for household cleaning, washing, drinking and food preparation.

After two major cyclones tore through Mozambique last year, government officials said the extreme weather events and subsequent flooding had caused $2.8 billion in damages and losses. This included an estimated 190,000 damaged sanitation units and more than 211,000 people left with restricted water access.

World Water Day is an opportunity to look at Bank investments that support Sustainable Development Goal 6, which calls for the availability and sustainable management of water and sanitation for all, and Sustainable Development Goal 13 on climate action.

Over the last decade, the Bank invested an estimated $6.2 billion in water supply and sanitation services. The Bank has also mobilized an estimated $150 million in climate finance from the Global Environmental Facility and the Green Climate Fund to co-finance water sector projects. The outcome: an estimated 52 million people getting access to improved water supply and sanitation services. Over the next 12 years, Bank water sector investments aim to provide an additional 154 million people with the same, across Africa.

The Bank also supports the development of climate-resilient, multipurpose water programs for storage and sectoral use – like hydropower, irrigation and river regulation – as well as investments that mitigate water-related disaster risk such as drought, flooding, cyclones and storm surges. For example, the Bank and development partners financed $210 million for the Program for Integrated Development and Adaptation to Climate Change in the Niger Basin. Covering nine countries, the project promotes investment in climate-resilient, hydro-agricultural infrastructure, sustainable land and water management as well as strengthened climate risk management.

We are committed to supporting climate action in the water sector and to scaling up climate finance to achieve water security, while pursuing an Africa with more sustainable and inclusive economic development.

Washing hands with soap is a major defense against COVID-19. It reminds us that water can be a matter of life or death. As we observe World Water Day, the coronavirus pandemic is a call upon all of us – member states, development partners and allies in Africa and beyond – to prioritize and invest in water supply, sanitation and hygiene.

Happy World Water Day!

Egypt: the furniture industry generates jobs and wealth in Damiette

AfDB NEWS & EVENTS

20-Mar-2020

As the early morning sun lights the roofs of Damiette, the Egyptian city’s streets begin to come alive. Children are off to school, motorbikes fill the avenues, and shop doors begin opening to welcome their first customers.

It is early in the morning, but the excitement can already be felt in the “Masoud Elkholy Furniture” workshop. Forty people work in the 3 000m2 building, starting up machinery to create wooden furniture. Along with his two brothers, Elsaied Elkhol leads “Masoud Elkholy Furniture”, the brand founded by his father.

“My father started this workshop. Today, my two brothers and I manage the company. Business has never been better. We’ve progressed a lot over these past ten years,” El General Manager Elsaied Elkholy explains.

Since 2009, this furniture brand has grown considerably, and its revenues have literally quadrupled. This growth is due in part to the support program for micro, small and medium enterprises (MSMEs) financed by the African Development Bank in partnership with the Egyptian Development Agency for MSMEs.

“The Bank has let us participate in three trade exhibitions. That’s given us the opportunity to show our work and opened doors for new sales,” says Elsaied Elkholy. “We are faced with many challenges, and the biggest is the lack of experience in design. I build a product that meets my clients’ needs. I have to be up on the latest trends to increase my ability to market my products …” he continues.

And as for design, thanks to the project, local skills have become available. Twenty-year-old Mena Elgalmi, a graphic artist, says, “Because of this project, I’ve been able to participate in a workshop and learn more about woodworking. One day, I hope we reach the stage where we can supervise our own creations. My daughter already likes designing and looking at the images of what we’ve created … I think she has a future in this field.”

In Egypt, the vast majority of the private sector consists of MSMEs. They employ nearly 80% of the country’s working population. “Damiette represents one of the largest groups in the Mid-East and North Africa. Ninety percent of its population works in the furniture industry. Our goal is to sustain these businesses and develop this industry in Damiette,” emphasizes Mohamed Rashad, local representative of the Egyptian Development Agency for MSMEs.

 

Entrepreneurs in Damiette are one example among many. Working alongside the Egyptian Development Agency for MSMEs since 2003, the Bank has contributed by offering consulting services, financing and technical assistance to Egyptian entrepreneurs. The goal is to free up the private sector’s potential to create wealth and jobs.

African Development Bank announces bold measures to curb coronavirus

AfDB NEWS & EVENTS

18-Mar-2020

The African Development Bank on Wednesday announced health and safety measures to help prevent the spread of the coronavirus in countries where it has a presence, including its headquarters in Abidjan. The measures include telecommuting, video conferencing in lieu of physical meetings, the suspension of visits to Bank buildings, and the cancelation of all travel, meetings, and conferences, until further notice.

Bank President Akinwumi Adesina made the announcements at a Bank-wide virtual Town Hall meeting from the institution’s headquarters in Abidjan. He stated that the measures were being taken in the best interest of public health and safety.

“My primary responsibility is to you, to make sure you are safe, to make sure your families are safe, to make sure you can function where you are under the best possible conditions health and security wise,” Adesina said. 

Adesina said all efforts are being made to ensure continuity of the Bank's operations including electronic documentation and approvals.

All Bank staff worked from home on Wednesday to test-run IT systems  

The Bank has already taken several other steps to counter an escalation of the virus, including a 14-day self-quarantine for employees returning from high-risk countries. 

Other multilateral institutions in Asia, Europe, and Latin America. have taken similar actions to prevent the spread of the virus.

Since the start of the COVID-19 outbreak in December 2019, the Bank has closely monitored the situation through its medical center, emergency management team, and its operational and executive crisis committees. Staff have regularly been provided with medical guidance and preventive measures are in place to protect staff and families from contamination by the virus.

A three-level COVID-19 response plan has also been developed to avert, manage and mitigate the effect of the pandemic on Bank’s staff and their families, while ensuring business continuity in the event of an escalation of the situation on the continent. 

“Please do not panic. Measures are being taken. The situation deserves that we change how we work and where we work from,” Adesina said.

The Bank's Board of Directors is reviewing the configuration and design of the Bank's statutory Annual Meetings originally scheduled for May 26-29, 2020 in Abidjan.

Botswana: African Development Bank supports economic diversification project through FAPA

AfDB NEWS & EVENTS

12-Mar-2020

An economic diversification project supported by the Africa Development Bank was launched in Botswana last month to strengthen the small stock, tourism and horticulture industries by improving businesses linkages particularly among small- and medium-sized enterprises (SMEs).

The Botswana Economic Diversification Project was launched on 6 February, 2020 in the capital Gaborone, with the aim of diversifying the southern African nation’s economy, which is heavily dependent on minerals, especially diamond exports.

Assistant Minister of Investment, Trade and Industry, Karabo Socraat Gare, underscored the need to diversify the economy and to improve the business climate in Botswana.

He hailed the African Development Bank for financing the project, which will, among other things, support a review of the country’s Private Sector Development Strategy.

“It cannot be more befitting that this programme is being funded by our own African Development Bank,” he said at the launch.

George Honde, Bank Lead Economist said that if successfully implemented, “support to the Botswana Economic Diversification Project will unlock a number of projects that will require both financial and technical support.”

He said the African Development Bank stood ready to work with the Government of Botswana and other private investors to provide support through both sovereign and non-sovereign lending.

The Botswana Economic Diversification Project is supported by the African Development Bank through a $1 million Fund for African Private Sector Assistance (FAPA) grant to be implemented over three years.

The project will back up to 100 high-growth SMEs selected from the small stock and horticulture sectors to enhance their production capacities, re-orient their business strategies and access wider markets for their products.

The overall goal of this technical assistance project is to assist Botswana’s government in its efforts to diversify the economy through increased competitiveness of SMEs, the engine of Africa’s economy. This will be achieved by supporting Business Botswana, a business association, to implement activities under the Botswana Private Sector Development Strategy (PSDS) which is the main framework for support to private sector development in Botswana.

More than a 100 people attended the launch in the capital Gaborone, including government officials, private sector leaders and development partners.

FAPA is a multi-donor thematic trust fund that provides grant funding for technical assistance and capacity building to support the implementation of the Bank’s Private Sector Development Strategy. The Governments of Japan and Austria, and the African Development Bank are active contributors to the fund, which to date has provided over $67 million to 83 projects in over 38 countries across Africa.

The FAPA portfolio includes regional and national projects aimed at improving the business environment, strengthening financial systems, building private sector infrastructure, promotion of trade and the development of micro-, small- and medium-sized enterprises.  Additional information on FAPA can be obtained from the following link https://www.afdb.org/en/topics-and-sectors/initiatives-partnerships/fund-for-african-private-sector-assistance or contact the FAPA_Secretariat@AFDB.ORG for specific requests.

Botswana: African Development Bank supports economic diversification project through FAPA

AfDB NEWS & EVENTS

12-Mar-2020

An economic diversification project supported by the Africa Development Bank was launched in Botswana last month to strengthen the small stock, tourism and horticulture industries by improving businesses linkages particularly among small- and medium-sized enterprises (SMEs).

The Botswana Economic Diversification Project was launched on 6 February, 2020 in the capital Gaborone, with the aim of diversifying the southern African nation’s economy, which is heavily dependent on minerals, especially diamond exports.

Assistant Minister of Investment, Trade and Industry, Karabo Socraat Gare, underscored the need to diversify the economy and to improve the business climate in Botswana.

He hailed the African Development Bank for financing the project, which will, among other things, support a review of the country’s Private Sector Development Strategy.

“It cannot be more befitting that this programme is being funded by our own African Development Bank,” he said at the launch.

George Honde, Bank Lead Economist said that if successfully implemented, “support to the Botswana Economic Diversification Project will unlock a number of projects that will require both financial and technical support.”

He said the African Development Bank stood ready to work with the Government of Botswana and other private investors to provide support through both sovereign and non-sovereign lending.

The Botswana Economic Diversification Project is supported by the African Development Bank through a $1 million Fund for African Private Sector Assistance (FAPA) grant to be implemented over three years.

The project will back up to 100 high-growth SMEs selected from the small stock and horticulture sectors to enhance their production capacities, re-orient their business strategies and access wider markets for their products.

The overall goal of this technical assistance project is to assist Botswana’s government in its efforts to diversify the economy through increased competitiveness of SMEs, the engine of Africa’s economy. This will be achieved by supporting Business Botswana, a business association, to implement activities under the Botswana Private Sector Development Strategy (PSDS) which is the main framework for support to private sector development in Botswana.

More than a 100 people attended the launch in the capital Gaborone, including government officials, private sector leaders and development partners.

FAPA is a multi-donor thematic trust fund that provides grant funding for technical assistance and capacity building to support the implementation of the Bank’s Private Sector Development Strategy. The Governments of Japan and Austria, and the African Development Bank are active contributors to the fund, which to date has provided over $67 million to 83 projects in over 38 countries across Africa.

The FAPA portfolio includes regional and national projects aimed at improving the business environment, strengthening financial systems, building private sector infrastructure, promotion of trade and the development of micro-, small- and medium-sized enterprises.  Additional information on FAPA can be obtained from the following link https://www.afdb.org/en/topics-and-sectors/initiatives-partnerships/fund-for-african-private-sector-assistance or contact the FAPA_Secretariat@AFDB.ORG for specific requests

The African Development Bank enters the capital of the investment fund Yeelen Financial Fund LP

AfDB NEWS & EVENTS

12-Mar-2020

The Board of Directors of the African Development Bank approved, Thursday, March 11 in Abidjan, a stake of 12 million euros in the capital of the Yeelen fund dedicated to the financial sector.

Yeelen Financial Fund LP is a 12-year investment fund domiciled in Mauritius and Lomé. It aims at a capitalization of 65 million euros in order to invest in the financial institutions of the eight countries of the West African Economic and Monetary Union (UEMOA). This fund will invest capital in banks, microfinance institutions (MFIs), financial technology companies (Fintechs) and insurance companies.

The aim is to help these institutions comply with regulatory requirements in terms of minimum capital and equity; to support their expansion by widening their reach to financially excluded populations and by developing credit and insurance products adapted to their conditions.

Through this investment, the African Development Bank intends to strengthen financial inclusion in the WAEMU zone, which remains one of the areas least well served by financial products such as micro-credits, and by insurance products such as insurance, micro and meso-insurance.

 “The Bank is delighted with a collaboration with Yeelen Capital promoted by Cauris Management with which it intervenes in the area through previous funds. We hope that this collaboration will increase deep inclusion and further stimulate the development of the area's private sector while improving the living conditions of the target populations, "said the director of the Bank's Financial Sector Development Department, Stefan Nalletamby.

"This fund will help strengthen level 2 and 3 financial institutions, enable them to comply with regulatory requirements and unlock funding for SMEs and populations underserved by the traditional banking system, in particular women, young people and populations in rural areas, "he said.

Ultimately, Yeelen aims to create nearly 1,500 jobs, 40% of which are occupied by women, and encourage and help banks and insurance companies to develop innovative products using digital finance (microinsurance, micro - loans, climate insurance, savings products), with the aim of empowering women and young people, and ultimately reducing poverty.

The Yeelen Fund aims to finance and strengthen the capacities of banks, microfinance institutions, insurance companies offering products that meet the needs of SMEs, women and rural populations. It thus aims to lift these populations out of precariousness and to improve their living conditions.

 Founded on January 10, 1994 in Dakar, the WAEMU's main objective is the construction, in West Africa, of a harmonized and integrated economic area. Eight coastal and Sahelian states make up the WAEMU: Benin, Burkina, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo.

The UEMOA is an attractive and growing space, with favorable demographic data and displaying an overall GDP of around 81 billion euros. The IMF forecasts around 6.5% growth in this area over the 2019-2020 period.

Mali: the African Development Bank grants more than 32 billion CFA francs for the construction of the “road of national unity”, Bourem-Kidal

AfDB NEWS EVENTS

13-Mar-2020

The African Development Bank and the government of Mali signed, Thursday, March 05 in Kidal, a financing agreement for the construction of the Bourem-Kidal road, 285.83 km long and nicknamed "national unity road" .

The financing agreement for 32.25 billion CFA francs was signed by the head of the Bank's country office in Mali, Ms. Haly Louise Djoussou-Lorng and the Prime Minister of Mali Boubou Cissé also Minister of the Economy and finances.

Costing a total of 87.30 billion CFA francs, this infrastructure project also benefits from support from the European Union for 46 billion CFA francs and from the Malian State for just over 9 billion CFA francs. .

This project, the objective of which is to contribute to the economic and social growth of the region by opening up areas in the north of the country, will enable the asphalting of the Bourem-Kidal road.

“This project is strategic for the political stability of Mali and the sub-region. The landlocked regions of Kidal and Bourem (Gao) are faced with food insecurity, weak land use planning, lack of viable jobs and lack of basic social services. The improvement of the road will provide a response to these factors of structural and endemic vulnerability… ”, said Ms. Djoussou-Lorng.

“Infrastructure is essential for local and national development. Thanks to the support of the European Union and the African Development Bank, this road, which remained a dream, will be realized by the government of Mali for the opening up of the Gao and Kidal regions inside and outside, "said the head of government. Malian specifying that "the tender documents to execute this project diligently have already been submitted to the Bank" for approval. 

“Companies in the Kidal region will be closely associated with the execution of the works of this local and regional development project. In addition, the Bourem-Kidal road will benefit the development of all the regions of the north of the country which will now be linked to the Trans-Saharan road. Indeed, this road will be extended to the Algerian border… ”, added Mr. Cissé.

The Bourem-Kidal route represents the Malian branch of the Trans-Saharan route (RTS), an infrastructure at the center of economic, social, political and security issues across the continent. This road is in fact located on the Algiers-Lagos and Dakar-Djibouti trans-African corridors, priority axes of the Program for Infrastructure Development in Africa (PIDA).

The High Labor Intensity Work (HIMO) approach will be favored for the acquisition of professional skills for young people from localities bordering the RTS2. Practical professional training is in particular planned for the constitution of a critical mass of technicians and skilled workers in the road trades, very important for Mali and this Sahelian zone. In addition, related equipment for women, young people and the rural world will be made available to the populations affected by the project.

Since the start of its operations in Mali in 1974, the African Development Bank Group has granted a total of 2 billion US dollars, of which 40% in grants and 60% in loans. The active portfolio of the Bank in Mali currently has 26 operations (23 in the public sector and 3 in the private sector) for a total amount of 600.3 million Units of Account (UA) or approximately 492.6 billion CFA francs.

The Bank's activities in this country cover in particular transport, agriculture, energy, governance, climate change and social development as well as the private sector.

Ivory Coast: African Development Bank relaunches major Dompleu aquaculture project in the west of the country

AfDB NWS & EVENTS

13-Mar-2020

The African Development Bank launched, Wednesday, March 11 in Man, in the west of Côte d'Ivoire, the Support component for the empowerment of women and young people of the Strengthening of the District District's electric networks project. by the public company Côte d'Ivoire Energies and implemented by the Food and Agriculture Organization of the United Nations (FAO).

 The Bank is thus relaunching the important Dompleu aquaculture project, which it financed in 2000 before it was interrupted by the political and military crisis that the country went through between 2002 and 2011.

"This project is an important branch of the rural electrification project in the region," said Raymond Kitandala, energy expert at the Bank. Ultimately, 20,000 households should benefit from electricity. But accessing electricity requires financial resources. This is why electricity should not be limited to domestic uses only. It must be used to create income-generating activities. "

“The Bank is returning to the region to reactivate the Donpleu aquaculture station. The success of the project will justify greater resources thereafter. So we are calling on the populations to take ownership of the project, ”he continued. The Bank finances the empowerment component of women and youth to the tune of $ 1.07 million.

Covering an area of ​​four hectares, the Dompleu station will be operated by a hundred young people from the region. It will produce 500,000 tilapia fry each year at the nursery station and 150 tonnes of tilapia fish for the local, national and even sub-regional market. In addition, groups of women and young people will be supervised to set up agricultural activities, in particular the cultivation of cassava and rice. They will annually produce 600 tonnes of attiéké and cassava flour, 400 tonnes of husked rice.

“It is an opportunity for our populations. They must seize this opportunity to strengthen social cohesion by developing the incomes of women and young people. Many ponds have been created in the region. There have been problems in the past. Now it is a question of relaunching these activities, ”said Karim Diarra, Prefect of Danané.

 Samy Gaiji, resident representative of FAO in Côte d'Ivoire stressed that “investing in women is easier. The investment is more profitable, it is a catalyst for local communities. "

The project will benefit more than 6,000 women and young people and contribute to the development of value chains and processing in the Mountain District, according to Samy Gaiji. “Côte d'Ivoire has sufficient conditions to produce at aquaculture level and meet national needs. FAO will make every effort for the success of the project. But this project will only succeed if the target groups take ownership of it, ”he pleaded.

Sierra Leone to count on African Development Bank to help build resilient economy, restore self-sufficiency in rice production

AfDB NEWS & EVENTS

13-Mar-2020

Sierra Leone will look to the African Development Bank to stimulate agribusiness development in the country with a focus on rice production, its president Maada Bio told a visiting delegation led by its president Akinwumi Adesina.

Adesina began a two-day visit to Sierra Leone on Wednesday, during which he will hold meetings to discuss curbing malnutrition, creating skills and jobs for young people, rapidly scaling up economic diversification and restoring the country to self-sufficiency in rice production.

“Our government is working hard to recover the economy, which was on the brink of collapse. We want to focus on economic diversification, with agriculture as the main driver,” President Bio observed, in a meeting with the Bank delegation.

“We are serious about developing this country and will appreciate the Bank’s support to realize our dreams. Infrastructure is an enabler for development, so we appreciate what the Bank is doing in Sierra Leone,” Bio said, identifying a productive workforce as a top national priority as well as jumpstarting economic activities in rural areas, where 73.9% of Sierra Leone’s poor live.

Commenting on the country’s capacity to enhance local production, and the export of rice, Sierra Leone’s staple food, Adesina said, “Sierra Leone should not be spending over $200 million yearly importing rice because its climatic conditions are generally favorable for rice production.”

According to the Ministry of Agriculture and Forestry data, total rice demand in 2018 was 1.6 million metric tons, against local production of 700,000 metric tons. In July 2019, the Bank approved the $11 million Agribusiness and Rice Value Chain Support Project to stimulate agribusiness development in the country with a focus on rice.

Sierra Leone also sought the Bank’s support for the implementation of its free quality education programme, which aims to enhance human capital development and facilitate economic transformation.

Adesina encouraged the country to explore the Bank’s Africa Investment Forum to elicit investor interest for the proposed Lungi–Freetown bridge. The project will link the capital city, Freetown, to the country’s sole international airport, which is presently accessible by ferry or helicopter.

The Bank also expressed keenness to support the development of critical infrastructure in the West African country and to open up space for greater private sector participation in the economy. Adesina said the Bank would deploy the African Legal Support Facility to help the country better manage its natural resources.

Adesina commended President Bio for his decision to join the African Leaders for Nutrition as a nutrition champion in his country, and for Africa. “Sierra Leone is an important country to the Bank,” We will support you to build a more robust and resilient economy, to transform the lives of your people. That is our role as a bank, putting people at the heart of development.”

“The Bank’s footprint is everywhere in Sierra Leone,” Chief Minister David Francis told Adesina. “The Bank has remained committed to the post-Ebola reconstruction. You have remained a faithful partner, and the country is grateful.”

Sierra Leone was one of the Bank Group’s founding members, and the Bank has financed projects there since 1967, to a cumulative sum of $758 million.