Will the Africa50 Fund, the brainchild of the African Development Bank, finally begin operations this year?
The fund, seen as the vehicle to help accelerate the continent’s infrastructure development needs, has been in the works for more than three years now. The bank proposed the establishment of the fund following calls from African heads of state for such a mechanism in 2012. Fundraising efforts among African stakeholders — governments, investors, pension funds and the private sector — began immediately afterwards, amid much speculation on when the fund would launch operations.
Outgoing AfDB President and Africa50 Fund Chair Donald Kaberuka himself made several forecasts over the past couple of years on when the fund would be open for business.
About the author
Jenny Lei Ravelo@JennyLeiRavelo
Jenny Lei Ravelo is a Devex Senior Reporter based in Manila. She covers global health, with a particular focus on the World Health Organization, and other development and humanitarian aid trends in Asia Pacific. Prior to Devex, she wrote for ABS-CBN, one of the largest broadcasting networks in the Philippines, and was a copy editor for various international scientific journals. She received her journalism degree from the University of Santo Tomas.
