AFD Board OKs 2011 Budget

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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About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.