AfDB enjoins Nigeria to replenish $25m NTCF Fund
The African Development Bank (AfDB) has appealed to Nigerian government to consider replenishing the Nigerian Technical Cooperation Fund (NTCF), which it described as an “important instrument” in Africa’s development.
The bank’s country director for Nigeria, Mr Ebrima Faal made the appeal yesterday in Abuja at a one-day symposium on “NTCF: A Reference Point for Africa’s Sustainable Development and Regional Integration” organized by Directorate for Technical Cooperation in Africa (DTCA).
NTCF is a special fund established by Nigerian government in 2014 to help in the economic and social development of the AfDB’s regional member countries. The fund, a seed of $25 million over ten years, is comanaged by the Bank and DTCA.
Faal said though Africa is plagued with multifaceted problems of poverty, underdevelopment, poor infrastructure and basic services, the fund has contributed significantly to alleviating the challenges.
“African countries need to invest more in infrastructure and basic services, such as education and healthcare, and increase access to energy and water. And they need to close the gender gap, strengthen and expand social safety to reduce risk and vulnerabilities.
“The NTCF is an important instrument in this regard. We encourage the Nigerian authorities to give favourable consideration to replenishing the fund, to make it possible for African countries to benefit from the programmes offered by the fund,” Faal said.
The Acting Director General of the DTCA, Mohammed Kachallah, said the $25 million funds had been used to essentially promote cooperation and regional integration across Africa through capacity building.
The Liberian Ambassador to Nigeria, Prof Alhassan Conteh, whose country is among the beneficiaries of NTCF, said the fund had helped Liberia in its post war programme for transforming education sector and enhancing public service delivery.