The African Development Bank and KfW on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), today announced the replenishment of the NEPAD Infrastructure Project Preparation Facility (NEPAD-IPPF) Special Fund, which aims to boost regional infrastructure in Africa.
As part of the agreement, the German Government will provide €10 million to replenish the Special Fund. The agreement was signed in Berlin by Helmut Gauges, Head of Financial Cooperation in Subsaharan Africa on behalf of KfW, and African Development Bank Vice-President and Chief Financial Officer, Hassatou N’Sele.
Germany’s support will bolster NEPAD-IPPF’s efforts towards priority areas such as green, climate-smart infrastructure and a stronger focus on the second Priority Action Plan of the Programme for Infrastructure Development in Africa for the period 2021-2030 (PIDA-PAP 2). It will also support Africa’s transformation under the Africa Continental Free Trade Area by boosting intra- and extra-African trade.
KfW Director, Christoph Tiskens said “The partnership aims to support infrastructure development with a focus on areas such as climate change, gender, Agenda 2063, and a stronger focus on attaining the Sustainable Development Goals”.
Christoph Tiskens commended the achievements of NEPAD-IPPF and noted that more resources are required, given the increasing demands being made on the Fund. “KfW, on behalf of the German Government, is a key partner of the African Development Bank and we will continue to support facilities that play a key role in economic growth and poverty reduction,” he said.
Navigating New Challenges In The Face Of Overlapping Global Crises
N’Sele, on his part, noted that “As economies in Africa navigate new challenges in the face of overlapping global crises, the support of partners such as Germany will enable the African Development Bank to deliver on its important development mission”.
“With the replenishment of NEPAD-IPPF Special Fund, we are determined to further support our clients while helping them realize their economic potential through increased infrastructure investments, contributing to green growth, inclusion, and job creation.”
Mike Salawou, African Development Bank Director for Infrastructure and Urban Development, commenting on the signing, said, “The new contribution from Germany is an indication of confidence in the AfDB’s leadership in infrastructure development and financing and recognition that the NEPAD-IPPF Special Fund is playing a catalytic role in infrastructure development in Africa”.
“It is therefore expedient to further strengthen the Fund with the necessary resources to enable it to meet its objectives and mandate to prepare bankable projects to attract both public and private sector financing.”
Mike Salawou
The New Partnership for Africa’s Development Infrastructure Project Preparation Facility (NEPAD-IPPF) is a multi-donor Special Fund, hosted by the African Development Bank. It is a leading project preparation facility in Africa, which plays a catalytic role in providing technical and financial assistance for the preparation of regional infrastructure projects and programs. Its mandate is to spur sustainable infrastructure development on the African continent through the preparation of bankable, investment-ready projects.
It supports African countries, Regional Economic Communities and Specialized Regional Infrastructure Development Agencies in preparing viable and high-quality regional infrastructure projects in the energy, transport, information and communication technology sectors and transboundary water resources. Participation in the Special Fund is open to donors, institutional funds and other special infrastructure funds.
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