Africa: The Government of Austria And the African Development Bank Re-Inforce Their Technical Co-Operation

16 February 2004
African Development Bank (Abidjan)
press release

Tunis — The Boards of Directors of the African Development Bank and the African Development Fund approved a Bilateral Technical Co-operation Agreement between the Republic of Austria and the Bank Group to provide a grant contribution of one million Euro in support of the ADB Group operations.

The aim of this Agreement is to foster and increase mutual co-operation between the Bank and Austria with the objective to contribute to the economic development and social progress of the Regional Member Countries. Within this context the Austrian Government will make available to the Bank and the Fund grant resources for: (i) acquisition of consultancy services for execution of studies; (ii) provision of technical assistance for the preparation and implementation of development projects in RMCs; (iii) provision of training and capacity building.

This Bilateral Cooperation Agreement is one of the elements in enhancing the partnership between Austria and the Bank within the broader context of the Bank's vision and the Austrian development policy. Furthermore, it is expected that this Agreement will be a valuable tool in encouraging and facilitating a greater involvement of the Austrian private sector in the Bank's operations.

The increasing interest of the Government of Austria in reviving and strengthening its collaboration with the African Development Bank was clearly demonstrated during the recent ADF X negotiations in Copenhagen in December 2004. The pledge of UA 56,166,165 corresponding to 103% increase of the commitment made to ADF IX, exceeded, in terms of percentage, by far any other pledge made by a donor during the ADF X negotiations. This strong support of the Austrian Government to the replenishment of the African Development Fund, as well as the newly approved Bilateral Co-operation Agreement are indeed an expression of its commitment not only to the Bank but also to the development in Africa.

The Agreement will be signed by the President and the Director General for Economic Policy and Financial Markets of the Austrian Ministry of Finance in April during a high-level mission from Austria to the Bank.

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