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LATEST HEADLINES * Somalia: 22 Somalis Released from Detention in Conflict-Ridden Sudan * Egypt Takes Lead in Resolving Sudan's Ongoing Conflict * Did Ethiopia supply weapons to Somalia's Jubaland? * Who Is Abu Mohammed al-Jolani, Leader Of HTS In Syria? * Somalia forces take control of military bases ahead of AU peacekeepers' exit * * * Advertise with us * * Home * News * Puntland * Somalia * World * Sports * Press Releases * Somaliland * Videos * Opinion * Contact * Privacy Policy English Somali AFRICAN DEVELOPMENT BANK TO SUPPORT ERITREA'S ECONOMIC GROWTH 72 Shares 4 1 67 * Staff Reporter Garowe Online * Posted On 14-09-2023, 11:47AM African Development Bank president Akinwumi Adesina tours Misilam Dam and Adi Halo Water Project with Eritrean President Isaias Afwerki ASMARA - Eritrea's economy could witness massive growth following a bilateral agreement between Asmara and the African Development Bank [AfDB], a strategic partner in the social-economic transformation of African nations for several decades. President Isaias Afwerki and AfDB President Dr. Akinwumi Adesina, signed the agreement on Friday in Asmara, which would give the Horn of Africa nation a massive economic facelift in terms of economic growth and sustainable development. Eritrea, Afwerki said, has identified AfDB as a strategic partner in social-economic transformation, adding that the partnership would boost the country's economy “from subsistence to industrialization.” Since joining AfDB in 1994, it was the first time the bank's president has visited the Horn of Africa nation. Afwerki said Eritrea had found the African Development Bank Group to be an ally and a key partner for development. “We have had fruitful engagements with the Bank and want to do more with the institution on a sustainable level,” he said. He also called for more resources for the African Development Bank and for it to be strengthened to support Africa's development priorities. The Eritrean strongman expressed his wishes that the bank help fishing communities, agriculture, skills and capacity development to increase self-sufficiency, and integrated infrastructure to enable the country to make the most of its large potash deposits. Earlier this year, the bank approved $49.92 million to the country for the construction of a 30-megawatt solar photovoltaic power plant in Dekemhare, the bank's largest development in the country. Once completed, the project will assist Eritrea in generating up to 360 megawatts by 2030. In 2018, Eritrea signed a peace and cooperation agreement with its neighbour, Ethiopia. This milestone marked the end of 20 years of conflict that had hampered economic development. The agreement and the lifting of United Nations and United States sanctions ended a decade of international isolation for Eritrea. On his part, Adesina said the bank will focus on supporting energy, water, sanitation, agriculture, skills, and capacity development in Eritrea. Further, he noted, that the bank will support the economic development of the country through financial assistance. Adesina said: “As President of the African Development Bank, I can assure you that under my leadership, the African Development Bank will be there to support Eritrea's drive to transform its economy. It can only get better with all the projects we have talked about today. If we work together, I know that Eritrea will be a much better country in many ways.” Adesina said the Eritrean leader had been consistent with his engagement with the African Development Bank since Eritrea joined the institution nearly 30 years ago. He highlighted the need to prioritize agro-industrialization to further grow the agriculture sector and ensure food stability. He also proposed the African Development Bank's Special Agro-Industrial Processing Zones initiative as a model for transforming Eritrea's rural communities into prosperous economic zones, harnessing the power of commercial agriculture and food production, the bank said. Eritrea is pushing to be one of Africa's most strategic development partners in the Horn of Africa and to push for this strategy, the country has changed political and foreign policies by embracing other countries. For instance, the restoration of relationships with Ethiopia and Somalia has significantly transformed relations in the region. For several years, the country has been accused of abetting infringement of human rights and other freedoms, leading to massive sanctions from the West. However, with recent developments, Afwerki seems to be keen on restoring peace and partnerships both regionally and globally. GAROWE ONLINE You May Like TV Movie Deals bei Horizn Studios: Entdecke die Purple Night EditionTV Movie Undo Somalia: 22 Somalis Released from Detention in Conflict-Ridden Sudan Undo Wunderweib XXXLutz-Deals mit unschlagbaren Rabatten und Einrichtung zum Spitzenpreis! | WunderweibWunderweib Undo Jubaland conflict: What we know so far Undo fotobuch.de Erstellen Sie Ihr preisgekröntes Fotobuch!fotobuch.de Undo Ethiopia's Defense Ministry Denies Helicopter Crash Reports in Bahir Dar as Misleading Undo SOMEFUNS Heben Sie sich hervor: Heben Sie sich mit unserem beeindruckenden FE hervor!SOMEFUNS Undo Somalia: Clashes in Jubaland After Madobe's Third Term Victory Undo Gruener Fisher Investments 7 Wege, um Einkommen zu generieren, sobald Ihr Portfolio 250.000 € erreicht hatGruener Fisher Investments Undo AU Holds Firm on Sudan's Suspension Amid Bloody War and Calls for Peace Undo Küchenangebote | Gesponserte Links Kreuztal: Unverkaufte Küchenmöbel werden fast verschenkt! (Schau mal)Küchenangebote | Gesponserte Links Undo Boat accident leaves 22 Somalis dead in Indian Ocean Undo by Project Agoraby Project Agora Sponsored LinksSponsored Links Promoted LinksPromoted Links LATEST HEADLINES SOMALIA: 22 SOMALIS RELEASED FROM DETENTION IN CONFLICT-RIDDEN SUDAN 09-12-2024, 12:52PM EGYPT TAKES LEAD IN RESOLVING SUDAN'S ONGOING CONFLICT 09-12-2024, 11:45AM DID ETHIOPIA SUPPLY WEAPONS TO SOMALIA'S JUBALAND? 09-12-2024, 08:41AM WHO IS ABU MOHAMMED AL-JOLANI, LEADER OF HTS IN SYRIA? 08-12-2024, 09:36AM ADVERTISE WITH US Advertise with GaroweOnline and expose your brand to a global audience of loyal visitors from across the world $50 $25 $10 $5 Other $ ONE TIME MONTHLY DONATE GET IN TOUCH LATEST VIDEOS JUBALAND PRESIDENT AHMED MADOBE SETS CONDITIONS ON ELECTION * Videos 29-11-2020 * 01:12AM FEDERAL INTERIOR MINISTER SPEAKS ABOUT NEXT EELCTIONS * Videos 16-11-2020 * 01:31PM SOMALILAND SUSPENDS ENGAGEMENT WITH UN HUMANITARIAN AGENCIES * Videos 01-11-2020 * 05:26PM CHILD TRAFFICKERS ARRESTED IN SOMALIA * Videos 23-10-2020 * 10:52PM RELATED ARTICLES SOMALIA: HORMUUD TELECOM SECURES YET ANOTHER GLOBAL ACCOLADE, HIGHLIGHTING SOMALIA’S TELECOM EXCELLENCE These achievements represent a groundbreaking moment for Somalia’s telecommunications industry on the global stage. * Business 24-11-2024 * 07:44AM HORMUUD SALAAM FOUNDATION PARTNERS WITH SOMALIREN AND TABAARAK ICT TO DRIVE TECH SKILL DEVELOPMENT FOR SOMALI STUDENTS Abdullahi Nur Osman, CEO of the Hormuud Salaam Foundation, emphasized the initiative's role in fostering innovation and socio-economic advancement. * Business 28-10-2024 * 04:09PM BETTER REGULATORY FRAMEWORK VITAL IN UNLOCKING THE POTENTIAL OF BLOCKCHAIN INDUSTRY, EXPERTS SAY * Business 10-06-2024 * 01:03PM AFDB LEADERSHIP CALLS FOR THE EXPANSION OF THE BRICS ALLIANCE IN AFRICA * Business 28-05-2024 * 12:46PM KENYA AIRWAYS TO RESUME DIRECT FLIGHTS TO SOMALIA * Business 30-11-2023 * 02:50PM PREPARATIONS ON TOP-NOTCH AS HORMUUD TELECOM IN FULL GEAR TO ORGANIZE A HIGH-LEVEL CONFERENCE * Business 10-10-2023 * 05:42PM * * * * Home * News * Videos * Gallery * Opinion * About Us * Contact * Privacy Policy Copyright © GAROWONLINE All Rights Reserved ADVERTISE WITH US Advertise with GaroweOnline and expose your brand to a global audience of loyal visitors from across the world $50 $25 $10 $5 Other $ ONE TIME MONTHLY DONATE GET IN TOUCH ARE YOU HAPPY TO ACCEPT COOKIES? 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Yes, I’m happy LATEST HEADLINES * Somalia: 22 Somalis Released from Detention in Conflict-Ridden Sudan * Egypt Takes Lead in Resolving Sudan's Ongoing Conflict * Did Ethiopia supply weapons to Somalia's Jubaland? * Who Is Abu Mohammed al-Jolani, Leader Of HTS In Syria? * Somalia forces take control of military bases ahead of AU peacekeepers' exit * * * Advertise with us Keep on reading Somalia: 22 Somalis Released from Detention in Conflict-Ridden SudanSomalia: 22 Somalis Released from Detention in Conflict-Ridden SudanGarowe Online Group 3 Undo Jubaland conflict: What we know so farJubaland conflict: What we know so farGarowe Online Group 3 Undo Ethiopia's Defense Ministry Denies Helicopter Crash Reports in Bahir Dar as MisleadingEthiopia's Defense Ministry Denies Helicopter Crash Reports in Bahir Dar as MisleadingGarowe Online Group 3 Undo Somalia: Clashes in Jubaland After Madobe's Third Term VictorySomalia: Clashes in Jubaland After Madobe's Third Term VictoryGarowe Online Group 3 Undo ' ' ' ' ' ' AU Holds Firm on Sudan's Suspension Amid Bloody War and Calls for PeaceAU Holds Firm on Sudan's Suspension Amid Bloody War and Calls for PeaceGarowe Online Undo TV Movie Deals bei Horizn Studios: Entdecke die Purple Night EditionTV Movie| SponsoredSponsored Undo Wunderweib XXXLutz-Deals mit unschlagbaren Rabatten und Einrichtung zum Spitzenpreis! | WunderweibWunderweib| SponsoredSponsored Undo Boat accident leaves 22 Somalis dead in Indian OceanBoat accident leaves 22 Somalis dead in Indian OceanGarowe Online Undo Somalia: Banadir court issues arrest warrant for Jubaland PresidentSomalia: Banadir court issues arrest warrant for Jubaland PresidentGarowe Online Undo Somalia: Al-Shabaab Exploiting Political Tensions Between Jubaland and Federal GovernmentSomalia: Al-Shabaab Exploiting Political Tensions Between Jubaland and Federal GovernmentGarowe Online Undo Ahmed Madobe Defends His Re-election, Calls for Talks With Somali GovtAhmed Madobe Defends His Re-election, Calls for Talks With Somali GovtGarowe Online Undo Somalia Airstrike Targets Senior Al-Shabaab LeadersSomalia Airstrike Targets Senior Al-Shabaab LeadersGarowe Online Undo fotobuch.de Erstellen Sie Ihr preisgekröntes Fotobuch!Erstellen Sie Ihr persönliches Fotobuch in ausgezeichneter Qualität. Gestochen scharfe Bilder und brillante Farben machen Ihre Erinnerungen unvergesslich. Jetzt gestalten!fotobuch.de| SponsoredSponsored Hier klicken Undo SOMEFUNS Heben Sie sich hervor: Heben Sie sich mit unserem beeindruckenden FE hervor!Bomberjacke aus SchaffellSOMEFUNS| SponsoredSponsored Jetzt kaufen Undo Who Is Abu Mohammed al-Jolani, Leader Of HTS In Syria?Who Is Abu Mohammed al-Jolani, Leader Of HTS In Syria?Garowe Online Undo Afwerki: We are not forming axis against EthiopiaAfwerki: We are not forming axis against EthiopiaGarowe Online Undo