Board Approves AfDB-World Bank Joint Partnership Strategy With Central African Republic

22 July 2009
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African Development Bank (Abidjan)
press release

Tunis — Designed to promote strong economic growth and employment, the Strategy focuses on two key pillars: The Consolidation of Economic Governance and Institutional Capacity; and the Rehabilitation and Development of Socio-Economic Infrastructure.

It reaffirms the commitment of the two institutions to deliver on the principles of the Paris Declaration on Aid Effectiveness and consolidate results achieved under their Joint Interim Strategy Note (JISN), based on the following strategic principles:

Address the CAR's most pressing priorities identified by the country's 2008-2010 Poverty Reduction Strategy Paper (PRSP) and the UN's 2009-2011 Peace-Building Commission's Strategic Framework for CAR;

Target selectivity and tangible results;

Maximize opportunities for regional integration;

Provide a framework for continuity of support with resources from the African Development Fund's 12th replenishment (ADF-12) and the 16th replenishment of the International Development Association (IDA-16).The AfDB's activities planned for 2009-2010 will be financed under ADF-11 country allocation of UA 17.72 million (US$ 26.49 million), supplementary support of UA 11.85 million (US$ 17.72 million) from the FSF, as well as US$ 2 million targeted support from the FSF.

The activities envisaged for 2011-2012 will be financed under ADF-12. The IDA-15 resources (US$ 34 million) will support the World Bank's activities in 2009-2011, while IDA-16 resources will support activities in 2012. In accordance with ADF-11 and IDA financing modalities, the CAR's total contribution to regional operations has been capped at one-third of the cost of the regional operations for IDA-15 and 10% of CAR's allocation under ADF-11.

According to the document, efforts will be made by the AfDB and World Bank to mobilize resources for economic infrastructure projects aimed at regional integration. "With the assistance of the World Bank, CAR has benefited from the resources of the Education For All - Fast Track Initiative (US$ 38 million), and additional resources are being actively sought from bilateral and trust funds managed by the AfDB and the World Bank," it added.

Read the original article on African Development Bank (AfDB).

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