THE African Development Bank (AfDB) and KfW, on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), have announced the replenishment of the NEPAD – Infrastructure Project Preparation Facility (NEPAD-IPPF) Special Fund. The fund aims to enhance regional infrastructure in Africa, and the German Government has pledged €10 million to replenish the Special Fund.
The agreement was signed in Berlin by Helmut Gauges, Head of Financial Cooperation in Sub-Saharan Africa at KfW, and African Development Bank Vice-President and Chief Financial Officer, Hassatou N’Sele.
The support from Germany will strengthen NEPAD-IPPF’s efforts in priority areas such as green and climate-smart infrastructure, aligning with the second Priority Action Plan of the Programme for Infrastructure Development in Africa for 2021-2030 (PIDA-PAP 2). It will also contribute to Africa’s transformation under the African Continental Free Trade Area by promoting intra- and extra-African trade.
Christoph Tiskens, Director at KfW, emphasised the partnership’s focus on infrastructure development in areas such as climate change, gender, Agenda 2063, and the Sustainable Development Goals. He commended NEPAD-IPPF’s achievements and highlighted the increasing demands on the Fund, emphasizing the need for additional resources. Tiskens stated, ‘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.’
N’Sele, Vice-President and CFO of the African Development Bank, expressed gratitude for Germany’s support, highlighting its importance in enabling the bank to fulfil its 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,’ she said.’
Mike Salawou, Director for Infrastructure and Urban Development at the African Development Bank, welcomed Germany’s contribution as a sign of confidence in the Fund’s ability to fulfil its mandate. He stressed the critical role NEPAD-IPPF plays in infrastructure development in Africa and the need to strengthen the Fund with necessary resources to meet its objectives.
The replenishment of the NEPAD-IPPF Special Fund signifies the commitment of both the African Development Bank and Germany to supporting infrastructure development in Africa and driving sustainable economic growth on the continent.