African Development Bank approves $257m loans, grants to Burkina Faso, Mozambique and Niger

The Board of Directors of the African Development Bank (AfDB) Group has approved loans and grants amounting to $257.6 million to finance public sector growth support as well as water and sanitation projects in Burkina Faso, Mozambique, and Niger.

The approval took place at AfDB’s temporary headquarters in Tunis, Tunisia, September 20, 2011.

Given the project briefing for the financing, AfDB indicates that Burkina Faso will receive $80.5 million budget support grant to finance its Accelerated Growth Strategy and Business Environment Support Programme (PASCACAF). The grant resources will be disbursed in two equal tranches in October 2011 and June 2012. The programme is expected to be completed by May 2013.

For Mozambique, AfDB allocates an amount of $96.6 million loan to finance the country’s Growth and Public Sector Efficiency Programme (GPSE) which is designed to broaden the social impacts of Mozambique’s robust economic growth on effective job creation, income generation and poverty reduction.

Niger received an amount of $33.84 million grant and $15.0 million loan to finance the country’s water mobilization project which will enhance food security in the Maradi, Tahoua and Zinder regions.

The AfDB again approved $25.8 million loan and $5.9 million grant to finance Niger’s National Rural Drinking Water Supply and Sanitation Programme (NRDWSSP-II) Project. The project is expected to be completed in December 2014.

The Board also approved the Country Strategy Paper (CSP) 2011-2015 for Mozambique and the Eastern Africa Regional Integration Strategy Paper (RISP) 2011-2015, a statement cited on AfBD’s website said.

By Ekow Quandzie