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Wednesday, October 7, 2015

Malabo funding facility to leverage development partners relationship

The African Union (AU) has advanced plans to ensure that the continent leverages its relationships with Development Partners (DPs), mostly in the implementation of the recently endorsed Malabo funding facility, reports NaijaAgroNet.

Revealing this to NaijaAgroNet in Addis Ababa, Ethiopia at the inaugural conference of Specialized Technical Committee on Agriculture, Rural Development, Water and Environment (STC-ARDWE), the Coordinator of the Comprehensive Africa Agriculture Development Programme (CAADP), Mr. Komla Bissi, assured the judicious use of the facility.

Reacting to DPs commendations to AU at the opening session of STC, he reiterated that African Union is working with the development partners to explore and leverage on the options that could be available for financing some of continent programmes.

He also affirmed that the current ‘Malabo facility’ would not disturb in any way the various on-going projects across the continent.

“We just concluded a discussion on the new financing facility, which we’re calling the Malabo facility,” he asserted.

Mr. Bissi explained that this facility is being put together from various sources, namely the AU, development partners, and private sectors to support countries particularly in implementing the commitment made in the Malabo facility and the programmes that have been identified.

His office through the AU is presently consulting with “Our member states. So, these discussions will be concluded this afternoon at the ongoing meeting of ST-ARDWE in Addis Ababa, whereas specific recommendations will be tabled for Ministers for consideration.”

NaijaAgroNet recalls for instance that recently, the World Bank highlighted that across Sub-Saharan Africa, poor infrastructure is a major bottleneck for sustainable development, just as signaling a new push and renewed commitment, could boost investment and catalyzes greater cooperation.

While infrastructure deficit has remain atop challenges of the continent’s ability to lay the foundations for sustained economic growth and productivity improvements needed to end poverty and boost shared prosperity on the continent.

+Remmy Nweke (ITRealms) in Addis Ababa, Ethiopia.
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