AfDB unit mobilizes $127m new grant resources for Africa
The African Development Bank (AfDB)’s Partnerships and Cooperation Unit (ORRU) recorded notable results in 2011 in moving the Bank’s partnership network towards a green and inclusive growth in Africa.
During the year, AfDB said the Unit “mobilized a total of $127 million new grant resources, of which $112 million were for thematic funds and $15 million for single donor funds.”
Head of ORRU, Kazumi Larhed, who revealed this at a trust fund forum, said as of March 2012, her unit is administering a total of 320 ongoing trust fund operations for a cumulative amount of $421 million, a statement from AfDB said March 23, 2012.
She noted that during the year under review the unit established new thematic funds including the South-South cooperation trust fund for which Brazil has approved $6 million while other donors are being mobilized. Denmark pledged $57 million to the sustainable energy unit for Africa.
The unit actively mobilizing other donors is another thematic fund set up in 2011.
Mrs Larhed, the statement noted, also mentioned that the Bill & Melinda Gates Foundation and Switzerland in 2011 joined the African Water Facility and Rural Water and Sanitation Initiative for $12 million and $20 million respectively.
The head of ORRU further outlined what her unit is doing in the areas of technical assistance and capacity building grant funds to implement greenfield microfinance institutions in Liberia, Tanzania and Nigeria and elsewhere.
The ORRU is responsible for mobilizing trust funds, co-financing, technical cooperation and strategic partnerships arrangements with development partners to enhance the operations of the Bank in Regional Member Countries.
The Unit serves as a central focal point for the AfDB’s partnerships management and monitors the implementation progress and results of the Bank’s partnerships and cooperation work.
By Ekow Quandzie