The African Development Bank is adopting a new strategy that prioritizes infrastructure, governance and private sector development to transform cities and towns in the region into engines of economic and social development.
Under the strategy, the bank will use infrastructure as its main vehicle for supporting urban development. It will focus on improving infrastructure delivery and the expansion of basic services as well as building capacity for the maintainance of public infrastructure.
In governance, AfDB will focus on strengthening transparency at the municipal level, improving anti-corruption safeguards and building urban planning capacity. Meantime, the bank will support private enterprises and strengthen local financial markets to promote private sector development.
Other priority areas included in the strategy are developing regulatory and legal frameworks to reduce transaction costs and promoting public-private partnerships.
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