NEPAD gets $3m from Africa bank
Nov 01, 2005
A US$2.5m (about sh4.6b) grant has been given to the New Partnership for African Development (NEPAD) by the African Development Bank (ADB).
By Macrines Nyapendi
A US$2.5m (about sh4.6b) grant has been given to the New Partnership for African Development (NEPAD) by the African Development Bank (ADB).
The funds will be used to finance 64% of the Multi-national Long-term Strategic Framework Study (MLSTF) for NEPAD’s infrastructure development.
The MLSTF study is aimed at promoting private sector participation in financing infrastructure projects and meeting economic and social aspirations of NEPAD.
Eric Chinje, the ADB spokesman, said, “The study will establish a common vision among all stakeholders on NEPAD’s infrastructure programme for the medium and long-term (2015-2020). It will also propose measures to accelerate implementation of projects.â€
The study will also define criteria to be used in the selection of projects under NEPAD’s infrastructure programme and set up a monitoring framework.
The study will be carried out in two parts. The first part will be implemented in six months, while the second one will be done in eight months.
The estimated cost of the study is $3.9m (sh7.1b). The Nigeria Technical Cooperation Fund will finance the remaining 36%.
A US$2.5m (about sh4.6b) grant has been given to the New Partnership for African Development (NEPAD) by the African Development Bank (ADB).
The funds will be used to finance 64% of the Multi-national Long-term Strategic Framework Study (MLSTF) for NEPAD’s infrastructure development.
The MLSTF study is aimed at promoting private sector participation in financing infrastructure projects and meeting economic and social aspirations of NEPAD.
Eric Chinje, the ADB spokesman, said, “The study will establish a common vision among all stakeholders on NEPAD’s infrastructure programme for the medium and long-term (2015-2020). It will also propose measures to accelerate implementation of projects.â€
The study will also define criteria to be used in the selection of projects under NEPAD’s infrastructure programme and set up a monitoring framework.
The study will be carried out in two parts. The first part will be implemented in six months, while the second one will be done in eight months.
The estimated cost of the study is $3.9m (sh7.1b). The Nigeria Technical Cooperation Fund will finance the remaining 36%.