African Dev’t Bank offers $4b for economic stability in Sahel

The African Development Bank (AfDB) has said it will grant $4 billion to the Sahel to make it a region of stability of economic growth.

This was announced by the Bank’s President Donald Kaberuka November 5, 2013 when he joined a United Nations, World Bank, African Union and European Union joint mission in Bamako, Mali.

According to the Tunis-based African lender, of the $4 billion, $2 billion have already been disbursed as part of ongoing programmes in the five countries namely Mali, Mauritania, Burkina Faso, Niger and Chad.

It added that $2 billion will be made available to these countries and $950 million for regional energy and transport projects.

“We want to emphasize the need for transformational projects in infrastructure, especially in the field of energy,” said Donald Kaberuka in his address at a meeting.

The meeting was to establish a platform of coordination for the United Nations integrated strategy for the Sahel.

By Ekow Quandzie