The African Development Fund Improving And Influencing Lives Of Millions In Africa

Must Read

TAJBank Launches Nigeria’s 2nd Non-Interest Financial Institution (Photos)

Abuja Nigeria   December 2nd 2019, TAJBank, Nigeria’s second Non –Interest financial institution, has announced the launch of its services...

Amazing Ankara Styles To Wear To An Occasion

If you have been recently invited to a wedding in Nigeria, there are lots of good options. From Aso Ebi to lace...

Hotel Group BON to Open 22 Properties in Nigeria’s Major cities, Secondary towns

International hospitality group BON Hotels says it plans to open over 22 hotels in Nigeria’s major cities and secondary...
- Advertisement -
- Advertisement -

In 38 of the region’s poorest countries, the Fund is investing linkages to strengthen the regional alliance, commercial exchanges and improving food security.

Established to provide a concessional buffer to needy economies on the continent, the African Development Fund (ADF), is not only facilitating rapid rollout of development projects, but its investments continue to transform and sustain lives, beneficiaries say.

In 38 of the continent’s neediest countries, 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.

Zoom on transformative projects

  • 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 centres but also saved lives of pregnant women and the sick by facilitating their timely arrival at health centres.

ADF a strategic and trusted partner: impact in numbers

Read:  Mo’Nique Sues Netflix For Race, Gender Discrimination

By the end of its current cycle, the ADF would have provided, since its inception, about $47.6 billion to strengthen fragile societies, in addition to building resilience and giving hope to the vulnerable.

Over the past 3 ADF cycles (2011 to 2018) the Bank has developed a strong developmental impact in ADF countries:

  • 395 MW of new generation capacity installed, including 170 MW of renewable capacity, giving 10.9 million people better access to electricity.
  • 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 kilometres 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 the Fund comprises 32 contributing states and benefits 38 countries. 

Read:  Nigeria and the Continental Free Trade Area Agreement
Read:  Tiger Beer Hosts Biggest Niche Party Of The Year (Pictures)

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.

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Anthony Joshua beats Andy Ruiz to win back world heavyweight titles

Anthony Joshua is the heavyweight champion of the world once more. Having suffered one of the biggest upsets in boxing history back...

News Highlights of November 2019 (Video)

It was a November to remember, as the battle for survival continues among brands, new ventures, opportunities, investments and the making of a payment...

Lagos State to commence issuance of license, permit for Boreholes Drilling in 2020

Lagos State Water Regulatory Commission is to commence issuance of licenses and permits for water abstraction in the state by the first quarter of...

May & Baker Nigeria Agrees to Manufacture 4 Product Brands for Sanofi in New Deal

The National Agency for Food & Drug Administration & Control (NAFDAC) has expressed strong support for the efforts by Sanofi, a multinational healthcare company,...

More Articles Like This