AfDB, Central Africa Republic Ally to Tackle Fragility, Sustainable Development
The African Development Bank (AfDB) and Central African Republic (CAR) have strengthened their partnership to tackle fragility and drive sustainable development.
The AfDB’s Vice President for Regional Development and Business Delivery, Marie Akin-Olugbade, said this in a statement posted on AfDB’s website.
Akin-Olugbade, during a visit to CAR, engaged with key stakeholders and government leaders, including President Faustin-Archange Touadera and Prime Minister Felix Moloua.
She also met with development partners and beneficiaries of bank-funded projects where she reaffirmed the bank’s commitment to advancing CAR’s development agenda.
Akin-Olugbade said: “AfDB’s current partnership with the CAR focuses on two primary pillars of supporting agricultural development and infrastructure for social inclusion and enhancing institutional capacity building and governance.
“ This framework aims to facilitate the country’s emergence from fragility and lay the foundation for robust and inclusive economic growth.
“I am proud to say that the bank’s investments are not just merely financial; they are truly transformative enablers of progress and prosperity in the lives of the people of the CAR,” she said.
The vice-president reiterated that the portfolio reflected alignment with the country’s strategies, particularly in infrastructure, governance, and agriculture.
She said in spite of the fragility stemming from political and security factors, the bank had remained resolute in supporting the country’s sustainable development objectives.
During the visit, Akin-Olugbade inspected key Bank-funded initiatives, including the Fibre Optic Backbone Project, which was pivotal in propelling the country toward a digital future.
“The project encompasses 900 km of fibre optic infrastructure, 11 technical sites, and a cutting-edge National Data Centre.
“Another transformative project AfDB supported, is the Multimodal Transport Corridor Project to connect Pointe-Noire, Brazzaville, Bangui, and N’Djamena, major cities in the Republic of Congo, the Central African Republic and Chad, respectively.
“A component of this project is the 280 million dollars Brazzaville-Bangui river corridor initiative, which will provide landlocked CAR and Chad a second maritime access to catalyse trade, foster job creation, and expand market access.
“This will boost regional integration for over six million people across Central Africa,’’ Akin-Olugbade said.
Akin-Olugbade said despite the economic challenges, including a modest growth rate of one per cent in 2023, CAR remained poised for progress.
According to her, projections indicate potential increases in key sectors such as industrial agriculture, forestry, and gold mining, which can spur growth to 2.9 per cent in 2025.
As at the end of March 2024, the bank’s active portfolio in CAR comprises 20 public projects.
This is with a total commitment of 454.6 million dollars, spanning the transport, energy, agriculture, and social infrastructure sectors.
Meanwhile, Prime Minister Moloua expressed satisfaction with the fruitful cooperation with the AfDB, emphasising its pivotal role in advancing national objectives. Naira Suffers Big, CBN Goes Ballistic Against FX Whale
“The bank’s support has been instrumental in advancing our national development agenda and addressing key challenges.
“And we look forward to continued collaboration to further drive progress and prosperity for our nation,” he said.
