#DeutscheFörderungfürInfrastruktur

[thxnews]

Germany Commits €10 Million to Boost Infrastructure Development in Africa

  Strengthening Africa's Infrastructure: Germany's Support

Germany Provides €10 Million to NEPAD-IPPF Special Fund Berlin, Germany - In a significant boost to regional infrastructure development in Africa, the German Federal Ministry for Economic Cooperation and Development (BMZ) has pledged €10 million to replenish the NEPAD – Infrastructure Project Preparation Facility (NEPAD-IPPF) Special Fund. The African Development Bank, in partnership with KfW on behalf of BMZ, announced the agreement, solidifying their commitment to enhancing Africa's infrastructure.   Germany's Focus on Sustainable and Climate-Smart Infrastructure The agreement, signed in Berlin, signifies Germany's dedication to supporting NEPAD-IPPF's priorities, particularly in green and climate-smart infrastructure. The funding will also align with the second Priority Action Plan of the Programme for Infrastructure Development in Africa (PIDA-PAP 2) for the period 2021-2030. By bolstering the NEPAD-IPPF Special Fund, Germany aims to contribute to Africa's transformation under the Africa Continental Free Trade Area, facilitating intra- and extra-African trade.   Strengthening Collaboration for Sustainable Development Goals Christoph Tiskens, Director at KfW, expressed his satisfaction with the partnership, highlighting its focus on climate change, gender equality, Agenda 2063, and the Sustainable Development Goals. He praised the achievements of NEPAD-IPPF while acknowledging the increasing demands faced by the fund. As a key partner of the African Development Bank, KfW remains committed to supporting initiatives that drive economic growth and reduce poverty.   African Development Bank's Mission Amid Global Challenges Hassatou N'Sele, Vice-President and Chief Financial Officer of the African Development Bank, emphasized the crucial role of partners like Germany in enabling the Bank to fulfill its development mission. The replenishment of the NEPAD-IPPF Special Fund will empower the Bank to better assist its clients, facilitating economic potential realization through increased infrastructure investments. N'Sele stressed the importance of green growth, inclusion, and job creation as key drivers for Africa's development.   Strengthening Infrastructure Development for Bankable Projects Mike Salawou, Director for Infrastructure and Urban Development at the African Development Bank, lauded Germany's contribution as a testament to the Bank's leadership in infrastructure development and financing. Salawou highlighted the NEPAD-IPPF Special Fund's catalytic role in driving infrastructure development in Africa. With the additional resources, the Fund can effectively prepare bankable projects, attracting both public and private sector financing to further bolster the continent's infrastructure.  

About NEPAD-IPPF: Advancing Sustainable Infrastructure in Africa

The New Partnership for Africa's Development Infrastructure Project Preparation Facility (NEPAD-IPPF) serves as a multi-donor Special Fund, hosted by the African Development Bank. As a leading project preparation facility in Africa, NEPAD-IPPF plays a pivotal role in providing technical and financial assistance for the preparation of regional infrastructure projects and programs. The Fund's mandate focuses on spurring sustainable infrastructure development across the African continent by preparing viable and high-quality regional projects in sectors such as energy, transport, information and communication technology, and transboundary water resources. Participation in the Special Fund is open to donors, institutional funds, and other specialized infrastructure funds.   Sources: THX News & African Development Bank Group. Read the full article