The African Development Bank Group (AfDB) and the Agence Française de Développement on Wednesday signed a cofinancing and partnership agreement to strengthen their relationship and leverage additional resources for impactful projects in Africa.
The agreement, which runs for five years, from 2021 to 2026, targets an indicative amount (€2 billion) in cofinancing over its first three years.
The two organisations will focus on adaptation to climate change, sustainable infrastructure and urban development, governance and sound public financial management. They will also cooperate on enhancing the private and the financial sector. This will include developing joint actions to support human development and addressing fragility, especially in the Sahel region.
“It is important for the African continent to emerge economically vibrant after Covid-19, and it can do so with solid support from its development partners. The African Development Bank and the Agence Française de Développement, working together with our countries on so many levels, can make that happen,” said African Development Bank President, Dr Akinwumi Adesina.
