AfDB provides $14m to manage Africa’s development results

The African Development Bank (AfDB) has provided $14 million as its contribution to the financing of the knowledge component of the multinational project for building capacity in managing for results in the Regional Member Countries and Regional Economic Communities (RECs).

The grant agreement was signed by the AfDB’s Acting Operations Vice-President, Lobé Ndoumbe and African Capacity Building Foundation (ACBF) Learning and Knowledge head, Kobena Hanson.

The funding will support the African Community of Practice on Managing for Development Results (AfCoP), in promoting Africa’s transformation agenda, the Bank said in a statement August 8, 2012.

The project, officials say, will also enable the community to mainstream results-based practices into RMCs’ policies and strategies as well as enhance the capacity of the West African Economic and Monetary Union and the Common Market for Eastern and Southern Africa, along with their member countries to accelerate the implementation of regional policies and programmes.

According to the agreement, the grant’s knowledge sharing component estimated at $2.16 million will be implemented by the ACBF.

The AfDB explains that the choice of ACBF was based on its past experience in managing Bank-financed projects and the consistency of the component with the ACBF’s mandate.

By Ekow Quandzie