By Ezeh chibuoke
The Board of Directors of the African Development Bank (AfDB) Group has approved a loan of $300 million to finance the Transport Sector and Economic Governance Reform Programme and the Nigeria Country Strategy Paper (CSP) for the period 2013–2017. The bank stated that the loan was aimed at supporting the Nigerian government to accelerate reform implementation in the areas of transport sector, governance and public expenditure management.
The reform measures, according to AfDB, include the establishment of a Federal Road Authority, National Road Maintenance Fund, Road-Tolling Policy and Axel Load Control Policy. In the areas of public financial management reform, the programme involves the adoption of International Public Sector Accounting Standards (IPSAS), Internal Audit Modernization Plan, Treasuring Single Account (TSA), Government Integrated Public Financial Management (GIFMIS) and Transparency and Compliance in Procurement and Audit Practices.
It revealed that the programme would also create fiscal space for increased investment in road infrastructure development. “It is an integral part of a broader set of interventions of the bank designed to support Nigeria’s Transformation Agenda with emphasis on economic governance and infrastructure development.
“The Country Strategy Paper outlines the bank’s engagement and assistance to the Federal Republic of Nigeria. “It will focus on two strategic pillars, namely supporting the development of a sound policy environment, and investing in critical infrastructure to promote the development of the real sector of the economy. “The strategy is aligned with the Government’s long-term development agenda,” AfDB explained. The African Development Bank yesterday also signed $57.66 million loan agreement for food security programme in Horn of Africa.
This was said to be for multinational Drought Resilience and Sustainable Livelihoods Program (DRSLP) in the Horn of Africa, with the Government of Kenya, bringing to $3.04 billion the bank’s commitment in the country’s various sectors. The program will be carried out in phases, with the first phase beginning in 2013 in Djibouti, Ethiopia and Kenya.
It will focus on about four million beneficiaries in the first five years. Speaking at the signing ceremony, AfDB Regional Director for the East Africa Resource Centre (EARC), Gabriel Negatu,explained that the entire program would cover eight countries in the Horn of Africa over the next 15 years, including Eritrea, Somalia, South Sudan, Sudan and Uganda, in addition to the three countries in the current phase.
“It is necessary to have all the countries in the program because if one country has better water, pasture and livestock services, the pastoralist will move there and this could lead to overgrazing, transmission of trans-boundary animal diseases and conflicts.
The next phase is expected to start as soon as funds are available for the remaining countries. This could be as early as end of 2013,” Negatu said. The Horn of Africa (HoA) region is often affected by severe recurrent droughts and chronic food insecurity. In 2011, the region faced the worst drought in decades that decimated crops and livestock, and left over 12 million people, mainly the pastoralist communities, in total distress across the affected region.
Source: Sun News Online
The Board of Directors of the African Development Bank (AfDB) Group has approved a loan of $300 million to finance the Transport Sector and Economic Governance Reform Programme and the Nigeria Country Strategy Paper (CSP) for the period 2013–2017. The bank stated that the loan was aimed at supporting the Nigerian government to accelerate reform implementation in the areas of transport sector, governance and public expenditure management.
The reform measures, according to AfDB, include the establishment of a Federal Road Authority, National Road Maintenance Fund, Road-Tolling Policy and Axel Load Control Policy. In the areas of public financial management reform, the programme involves the adoption of International Public Sector Accounting Standards (IPSAS), Internal Audit Modernization Plan, Treasuring Single Account (TSA), Government Integrated Public Financial Management (GIFMIS) and Transparency and Compliance in Procurement and Audit Practices.
It revealed that the programme would also create fiscal space for increased investment in road infrastructure development. “It is an integral part of a broader set of interventions of the bank designed to support Nigeria’s Transformation Agenda with emphasis on economic governance and infrastructure development.
“The Country Strategy Paper outlines the bank’s engagement and assistance to the Federal Republic of Nigeria. “It will focus on two strategic pillars, namely supporting the development of a sound policy environment, and investing in critical infrastructure to promote the development of the real sector of the economy. “The strategy is aligned with the Government’s long-term development agenda,” AfDB explained. The African Development Bank yesterday also signed $57.66 million loan agreement for food security programme in Horn of Africa.
This was said to be for multinational Drought Resilience and Sustainable Livelihoods Program (DRSLP) in the Horn of Africa, with the Government of Kenya, bringing to $3.04 billion the bank’s commitment in the country’s various sectors. The program will be carried out in phases, with the first phase beginning in 2013 in Djibouti, Ethiopia and Kenya.
It will focus on about four million beneficiaries in the first five years. Speaking at the signing ceremony, AfDB Regional Director for the East Africa Resource Centre (EARC), Gabriel Negatu,explained that the entire program would cover eight countries in the Horn of Africa over the next 15 years, including Eritrea, Somalia, South Sudan, Sudan and Uganda, in addition to the three countries in the current phase.
“It is necessary to have all the countries in the program because if one country has better water, pasture and livestock services, the pastoralist will move there and this could lead to overgrazing, transmission of trans-boundary animal diseases and conflicts.
The next phase is expected to start as soon as funds are available for the remaining countries. This could be as early as end of 2013,” Negatu said. The Horn of Africa (HoA) region is often affected by severe recurrent droughts and chronic food insecurity. In 2011, the region faced the worst drought in decades that decimated crops and livestock, and left over 12 million people, mainly the pastoralist communities, in total distress across the affected region.
Source: Sun News Online
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