The African Development Bank and the New Development Bank have signed an agreement to promote new impact projects to improve the lives of millions of Africans.
Under the deal, the New Development Bank −a multilateral development bank established by BRICS countries of Brazil, Russia, India, China and South Africa – will work with the African Development Bank to jointly identify, prepare and co-finance projects in countries of mutual interest.
“Through this cooperation, we will realize our shared objectives of promoting economic and social development, and deliver sustainable development and infrastructure projects at scale that change the lives of millions,” African Development Bank President Akinwumi Adesina said, following the signing.
Projects to be targeted cut across clean energy, transport infrastructure, irrigation, water resource management and sanitation, sustainable urban development, and economic cooperation and integration.
Original source: AfDB
Published on 28 October 2019
