The African Development Bank (AfDB) and Africare signed a 5-year Memorandum of Understanding in Washington, D.C. on 12 April.
Speaking at the ceremony - within a Bank-funded Summit on 'Creating Opportunity for Africa' in the margins of the World Bank and IMF Spring Meetings - AfDB President Donald Kaberuka said: "Partnership and leverage is increasingly the model for supporting the transformation of Africa".
"As the official champion of African development, one of our tasks in the Bank is to galvanise others. That is why we nurture partnerships such as these across the public sector, the private sector, and civil society.
"This partnership will strengthen the Bank's capacity to use a community-focused lens while designing its programs and projects", he added.
The AfDB values Africare's 45-year and 36-country pedigree as the largest and oldest global NGO working exclusively on African development. The two organisations have worked together since 2003. They see special synergies in areas like supporting smallholder farmers in building resilience, and improving yields, incomes and nutrition practices to increase food security.
"There are many areas of overlap between ourselves and Africa's premier development finance institution', said Darius Mans, President of Africare. 'For instance, the Bank's focus on infrastructure can be reinforced by our community consultations and social impact assessments around infrastructure projects."
The Bank and Africare also share extensive experience in developing solutions to the challenge of youth unemployment in Africa, and in operating in countries experiencing fragility.