AfDB's Kaberuka Heads to Tanzania - Energy in Focus

27 June 2013
Content from a Premium Partner
African Development Bank (Abidjan)
press release

African Development Bank (AfDB): President Donald Kaberuka arrives in Tanzania at the weekend for the visit by US President Barack Obama, whose focus will include an initiative to foster economic growth and development in Africa through increased access to reliable, affordable, and sustainable power.

The initiative is a multi-stakeholder partnership that brings together the United States, the African Development Bank and six African countries. It is designed to increase access to electricity, raise cross-border trade in energy, and promote efficient management of energy resources. The US president's July 1-2 visit to Tanzania is the last stop on his three-nation Africa tour.

The AfDB has over the last five years committed more than $1.63 billion in energy infrastructure funding to the six countries involved in the initiative. This includes $1.4 billion from the African Development Fund (ADF), the Bank's concessionary lending window for low income countries. The US is a significant contributor to the ADF.

The Bank is at the forefront of a campaign by African governments and institutions to grow the continent's economies by scaling-up of infrastructure development.

"This continent pays dearly for deficiencies in infrastructure, including those in the energy sector. Drawing on resources from the public and the private sector, at home and abroad, it can derive immense dividends from infrastructure development," Dr. Kaberuka said ahead of the visit.

"Last month, the African Development Bank unveiled plans for the new 'Africa50Fund', a big and bold solution designed to help fill the funding gaps in Africa's transport, power, water and communications systems. The Bank is committed to partnering with its regional member countries to ensure they stay on the path of sustained growth," he added.

Dr. Kaberuka will during the visit discuss the AfDB's support for improved governance in the extractives sector through its African Legal Support Facility. The facility helps regional member countries to negotiate fair extractive resource contracts with investors.

For media enquiries and to interview Dr Kaberuka:

In Tunis, please contact Magatte Wade, Head of External Relations and Communications at m.wade@afdb.org and +216 983 43734

In East Africa, please contact Mercy Randa, Regional Communications Consultant, m.randa@afdb.org and +254 735 229 542

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

Tagged:
Copyright © 2013 African Development Bank. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.