The French Development Agency’s, or AFD, board of directors approved on Thursday (March 10) the budget for 2011 after “lengthy discussions with its supervisory authorities,” the agency said in a statement.
The budget addresses the need to both “control expenditure and consolidate AFD’s economic model,” the statement reads.
The AFD board also approved more than €180 million for five development projects during Thursday’s meeting. The funding includes:
- €133 million for the construction of a second bridge on the Wouri in Douala, Cameroon.
- €2 million for the Democratic Republic of Congo’s priority investments program.
- €5 milllion to develop rice production in mangrove areas in the Republic of Guinea.
- €20 million for energy rehabilitation in public buildings in the People’s Republic of China’s Hubei province.
- €21m loan for a micro hydropower project in the rural areas of Xiangfan, Hubei province, People’s Republic of China.
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