At its 2011 annual meeting in Portugal, the African Development Bank outlined its assistance plans for Tunisia, Ivory Coast, Uganda and Zimbabwe as well as launched a review of the effectiveness of the bank’s operations in 2010.
AfDB and Tunisia formally signed on Friday (June 10) an agreement for $500 million worth of budget support the bank promised as the part of a $1.4 billion package put together by multilateral banks for the African country. The bank is planning to provide a further $500 million in budget support for Tunisia by the end of 2011, according to AfDB President Donald Kaberuka.
>> Tunisia To Get $500M AfDB Budget Support
Meantime, the bank and Ivory Coast signed several grant and loan agreements to finance an integrated management project for the Gourou watershed as well to formalize AfDB support for the country’s efforts to restore basic social and administrative services disrupted by the recent political crisis.
>> AfDB Shores Up Ivory Coast’s Social Spending Budget
AfDB also approved a $30 million grant to support priority water and sanitation rehabilitation facilities in Zimbabwe. The money will be drawn from the Zimbabwe Multidonor Trust Fund managed by the bank and financed by Australia, Denmark, Norway, Germany, Sweden, the United Kingdom and AfDB.
AfDB signed a separate loan agreement that will finance the rehabilitation of agricultural infrastructure in Uganda. The loan will be used for a project that aims to improve access to transport services among people living in rural communities in the country.
Aid effectiveness review
In addition to signing loan agreements, AfDB also launched in Portugal the first-ever annual review of its operations’ effectiveness. The review assessed development trends in Africa and track how AfDB’s operations have contributed to the region’s development in 2010, according to a news release from the bank.
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