WED, JULY 03 2019-theG&BJournal-Latest report by Africa Development Fund (ADF) shows that by the end of its current cycle, it would have provided about $47.6 billion to strengthen fragile societies in 38 of the continent’s neediest countries.
Established to provide concessional buffer to needy economies on the continent, the ADF, is not only facilitating rapid rollout of development projects, but its investments continue to transform and sustain lives, beneficiaries say.
‘The Fund is creating linkages to promote regional integration, commercial exchanges and enhancing food security by investing in power projects, roads and bridges, and other critical industrial and livelihood buildouts.
Some of its transformative projects include the Zambia’s Tezhi Hydro Power project, celebrated for providing clean and renewable electricity to nearly a million people.
In South West Madagascar, beneficiaries of a 107km road financed by the Fund said it has not only helped farmers to get their crops to market centers, but also saved lives of pregnant women and the sick by facilitating their timely arrival at health centers.
Over the past 3 ADF cycles (2011 to 2018) the Bank has developed strong developmental impact in ADF countries:
-395 MW of new generation capacity installed, including 170 MW of renewable capacity, giving 10.9 million of people better access to electricity.
-The ADF’s agriculture projects have benefited over 90 million people. 66.6 million people have better access to transport facilitating market access and international connection.
-2,307 kilometers of cross-border roads built or rehabilitated, and 4.1 million people provided with better access to education and 35.8 million people with access to water and sanitation.
Administered by the African Development Bank (www.AfDB.org) the Fund comprises 32 contributing states and benefits 38 countries.
The ADF-eligible countries include those that are increasing their economic capacities and heading toward becoming the new emerging markets, as well as those that remain fragile and need special assistance for basic service delivery.
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