Find visitors' favorite businesstravel Hotels And.... Book your best!

African Development Bank Increases Funding 36 Percent

The African Development Bank (AfDB) Group financed projects worth 8.5 billion US dollars in 2011 fiscal year increasing it by 36 percent from 2010.

The figures were revealed at a financial presentation of the AfDB’s results and operations for 2011 made on 30 May in Arusha, Tanzania, where the institution is holding its Annual Meetings. The largest area of operations in financial terms was infrastructure, accounting for just over 38 percent of loans and grants, followed by multisector loans and grants which came to almost 21 percent of the total.

The multisector category covers public sector management, including good governance and anti-corruption programs, industrial import facilitation and export promotion.

Another large sector was finance, accounting for just over 19 percent of the total. The finance operation includes financing to development banking, commercial banking, non-bank financial intermediation, reinsurance and microfinance funds.

Infrastructure is one of the four main pillars of the AfDB’s strategy for assisting the development of the African continent. The other three are investing in the private sector, education and promoting good governance.
The Bank’s Treasurer, Pierre Van Peteghem, who made the presentation, described some of the outcomes of the AfDB’s infrastructure investments.

He highlighted a 23 million US dollars Rural Electrification Project in Guinea which is boosting electrification from 3 percent to a target of 20 percent by 2015. Mr Van Peteghem went on to point out that the 82 million US dollars Kazungula Bridge project between Zambia and Botswana will slash the border transit time from 30 hours to just six hours on completion in 2018.

Between 2009 and 2011, he said, 12.5 million people benefitted from new or improved access to water and sanitation. Almost 11 million people enjoyed better access to transport over the same period. Those years saw the construction, maintenance or rehabilitation of 25,000 km of roads and feeder roads.

In the same period, almost 15,000 km of power transmission lines were installed or rehabilitated, and 6.7 million people gained access to electricity. On the private sector, Mr Van Peteghem said the AfDB’s operations would make long-term positive impacts across Africa.

The private sector accounted for 25 projects approved by the AfDB in 2011, or 15 percent of Group approvals. Mr Van Peteghem said that over the next 20 to 30 years those projects were expected to raise USD 3.5 billion in taxes for governments in Africa. They were also expected to create 86,600 permanent and temporary jobs. Another outcome would be credit or business opportunities for 1,160 women-led businesses.

As for higher education, technology and vocational training, the bank’s treasurer said there had been five approvals in 2011 with a total cost of 79 million US dollars. He highlighted the 21 million US dollars Bamako Digital Complex project in Mali, the Alternative Learning Project in Tanzania with funding of 23 million US dollars, and the Technical and Vocational Education and Training project in in Eritrea with finance of 18 million US dollars.

He went on to inform the audience that the AfDB had approved 19 operations in the sector over the last three years, with total funding of 461 million US dollars. The expected outcomes from those interventions, he said, were 6,000 classrooms built, 107,000 teachers recruited, 4.25 million textbooks supplied and three million scholars and students benefiting.

31 May 2012

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Banking Guide Questions and Comments.

Haven't yet found what you Want...?

If you haven't yet found what you were looking for or you need detailed information about the subject matter on this page


feel free to ask our business travel consultants.

Farmland for Sale
Prime Commercial Property
Entebbe Rd Land 4 Sale
Over 20 Farmland Parcels
Property & Plots of Land

Uganda Online SuperMarket
Online SuperMarket

Uganda Coffee Safari
Book My Coffee Tour

Uganda Honey
Uganda HoneyComb

Subscribe to our Business Travel Newsletter

Enter Your E-mail Address
Enter Your First Name (optional)

Don't worry — your e-mail address is totally secure.
I promise to use it only to send you Africa Uganda Business Travel News Digest.

Hotel Booking

Car RentalCar Hire

Africa Uganda Shipping & Handling ServicesShipping & Handling Services

Our Sponsorship Policy

Apple Guavas available
Africa Uganda Plants GuideAfrica Plants Guide

Charity Investment Guide
Changing Lives

Africa Uganda SMS Guide
Africa Bulk SMS

Poultry Investment Guide
Poultry Business Guide

Related Pages

Uganda Hotels Directory

Uganda Hotels Booking Guide

Houses U can buy Uganda Real Estate Guide Industrial/Farmland Deals

Uganda Real Estates Guide

The Mountain Gorilla

Uganda Safari Guide

Uganda Weather Today

Book My Hotel

Please note that all fields followed by an asterisk must be filled in.

Please enter the word that you see below.


Uganda Currency