The African Development Bank (AfDB) has reiterated the importance of advancing Africa’s infrastructure development. The AfDB’s Vice-President for the Private Sector, Infrastructure and Industrialisation, Solomon Quaynor, said this in a statement on Friday.
Quaynor said this at the 39th Oversight Committee Meeting of the New Partnership for Africa’s Development Infrastructure Project Preparation Facility (NEPAD-IPPF).
More than thirty institutions, including donors, partners, Regional Economic Communities (RECs), and implementing agencies, attended the meeting.
The NEPAD-IPPF is a multi-donor special fund hosted by the African Development Bank. The facility provides critical financial and technical assistance to African countries, Regional Economic Communities, and Specialised Agencies for preparing viable and bankable projects.
Focus areas include energy, transport, information technology and communication (ICT), and transboundary water resources. By pooling donor resources, NEPAD-IPPF supports project development for both public and private sector financing. The Oversight Committee provides general policy direction and ensures effective governance of these initiatives
According to Quaynor, the Bank’s Ten-Year Strategy (2024-2033) emphasises mobilising funds through project preparation facilities, including NEPAD-IPPF.
“This will be critical to meet the growing demand for project preparation, particularly for projects under the Programme for Infrastructure Development in Africa Priority Action Plan 2 (PIDA PAP2).
“The NEPAD-IPPF continues to play a leading role in supporting the continental infrastructure agenda,” Quaynor said.
He said the NEPAD-IPPF Special Fund and the PIDA Service Delivery Mechanism (SDM) were critical in accelerating the bankability and financial closure of regional infrastructure projects across Africa.
Michael Andres, Principal Project Manager at German Development Bank KfW and Chair of the Oversight Committee, emphasised the importance of maintaining synergies among various infrastructure initiatives and stakeholders across Africa.
He welcomed the establishment of the Alliance for Green Infrastructure in Africa (AGIA) Project Preparation Window in April 2024 as complementary to NEPAD-IPPF.
Andres also acknowledged the significant increase in NEPAD-IPPF’s funding base following substantial contributions from Canada and Germany, which would accelerate the Fund’s operations.
Maria Lladosa, Deputy Head of Division in Spain’s Ministry of Economy and Competitiveness, acknowledged the challenging operational environment.
She encouraged the NEPAD-IPPF team to enhance efficiency and effectiveness in project execution through improved tools, indicators, and measures for stakeholder decision-making.
First Secretary Daphne Levasseur, representing the Embassy of Canada in Côte d’Ivoire, confirmed Canada’s continued commitment to NEPAD-IPPF.
The meeting covered several key topics including the NEPAD-IPPF Special Fund 2024 Mid-Year report and technical assistance fund activities.
A progress review of continental initiatives for PIDA PAP2, and an assessment of the Fund’s financial performance from January through October 2024 were also discussed.
(NAN)
