AFDB and EBID inks $950,000 grant ac­cord

The Pak Banker - - 6BUSINESS -

The African Devel­op­ment Bank (AfDB) and the In­vest­ment and Devel­op­ment Bank of the Eco­nomic Com­mu­nity of West African States (EBID) signed to­day a grant agree­ment amount­ing to US $950,000 to strengthen the EBID in­sti­tu­tional ca­pac­i­ties. The sign­ing cer­e­mony, held dur­ing the in­au­gu­ra­tion of the AfDB na­tional of­fice in Togo, was chaired by Serge N’Gues­san, AfDB Res­i­dent Rep­re­sen­ta­tive in Togo, and Bashir Ifo, EBID Pres­i­dent. This grant, pro­vided from the Fund for African Pri­vate Sec­tor As­sis­tance (FAPA), funded by the Government of Ja­pan, the AfDB, the Aus­trian Devel­op­ment Bank and the Government of Aus­tria, will fi­nance a tech­ni­cal as­sis­tance pro­gram al­low­ing EBID to im­ple­ment its pri­vate sec­tor op­er­a­tions strat­egy and pro­cesses, to re­in­force its hu­man cap­i­tal and in­crease its re­sources mo­bi­liza­tion. This grant is part of a large tech­ni­cal as­sis­tance pro­gram funded jointly with the French Devel­op­ment Agency (AFD) who pro­vided a €500,000 to EBID in 2011 to im­prove its fi­nan­cial and risk man­age­ment frame­work.

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