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AFRICAN DEVELOPMENT BANK EXPANDS URBAN SUPPORT PROGRAM TO SIX NEW CITIES

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25 June 2024
Content from a Premium Partner
African Development Bank (Abidjan)
announcement

The African Development Bank's Urban and Municipal Development Fund (UMDF) has
expanded its African Cities Program to cover six new cities across the
continent. The expansion, approved by the Fund's 13th Oversight Committee, will
help bolster urban development and address critical challenges faced by rapidly
growing African cities.

The newly included cities are:

 * Kolwezi, the Democratic Republic of Congo: mining town grappling with rapid
   urban growth and environmental issues.
 * Grand Nokoué, Benin: an economic hub with over two million inhabitants.
 * Buffalo City, South Africa: a coastal city prioritizing climate resilience.
 * Joal, Senegal: A medium-sized city focusing on integrating environmental and
   social issues into economic development.
 * Juba, South Sudan: Prioritizing essential services for a growing, vulnerable
   population;
 * Nouakchott, Mauritania: Planning to combine projects on climate resilience,
   urban mobility, and sustainable energy.

The Bank launched the UMDF in 2019 in response to growing demand from countries
and cities for urban development support. It receives contributions from the
Nordic Development Fund and the governments of Denmark, Spain, and Switzerland,
as well as the Walloon Export and Foreign Investment Agency.

The Fund provides financial and technical assistance to national and local
governments for improving governance, planning, and to prepare investments in
sustainable urban development for more climate resilient, resilient, liveable
and productive cities, underpinning national socio-economic development and
poverty reduction.





UMDF will provide funding for each of the six cities over several months,
including a detailed analysis of the strengths and vulnerabilities, especially
regarding economic, social, climate, and gender issues. The goal is to identify
transformative infrastructure projects that can attract public and private
sector investments.

The committee also reviewed the Fund's progress and approved its 2024 work
program, allocating over $4.7 million to identify and develop urban
infrastructure projects and bring them to maturity.

Mike Salawou, Director of the African Development Bank's Infrastructure and
Urban Development Department, committed to strengthening the Fund's operational
effectiveness and capacity to mobilize more funding and partnerships for greater
impact.

"The question of urban development is at the heart of the Bank's new ten-year
strategy for 2024-2033, of which the Urban and Municipal Development Fund is a
strategic implementation mechanism," he emphasized. The Bank ten-year strategy
2024-2025 includes data and research from publications financed by the Fund and
its partners.

It is hoped that the Fund will act as a catalyst in boosting access of African
municipalities to public and private finance, a priority defined by the
President of the African Development Bank Group, Akinwumi Adesina, at the Africa
Investment Forum 2023 Market Days in Morocco.




Read the original article on African Development Bank (AfDB).



Tagged:
 * Business
 * Africa
 * Urban Issues
 * Aid and Assistance

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Copyright © 2024 African Development Bank. All rights reserved. Distributed by
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this material, click here.


NOTICES AND ANNOUNCEMENTS


AFRICAN DEVELOPMENT BANK (AFDB)

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   Infrastructure in Africa
 * Bank Commemorates 60 Years of Impact in Ethiopia
 * African Development Bank Launches Debt Management Forum for Africa (Demfa) -
   Holds Inaugural Policy Dialogue
 * More»


MORE FROM: AFRICAN DEVELOPMENT BANK (AFDB)

 * Chad: Cameroon - A Loan of Eur 330 Million From the African Development Bank
   to Improve the Performance of the Douala-Ndjamena Economic Corridor
 * Africa: African Development Bank to Make $30 Million Equity Investment in
   Africa Finance Corporation to Catalyse Climate Action
 * Africa: African Development Bank and Partners Unveil Guidance to Transform
   Healthcare Infrastructure in Africa
 * Ethiopia: Bank Commemorates 60 Years of Impact in Ethiopia
 * Africa: African Development Bank Launches Debt Management Forum for Africa
   (Demfa) - Holds Inaugural Policy Dialogue
 * Africa: African Development Bank Highlights Efforts in Land Degradation At
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 * Zambia: Zambia - African Development Bank Grants Loan of $108 Million to
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 * Africa: African Development Bank Celebrates 60 Years of Transformative Impact
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 * Africa: African Development Bank Group to Extend Facilities Worth $200
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 * Tanzania: African Development Bank Leads $1.2 Billion Financing Syndication
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 * Madagascar: Madagascar - African Development Bank Group Grants a $165 Million
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 * Africa: Africa Investment Forum - African Development Bank and Italy's CDP to
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 * Nigeria: Nigeria's Special Agro-Industrial Processing Zones (Sapz) Phase II,
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 * Africa: Africa Investment Forum 2024 - Strengthening Public-Private
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InFocus
AIF 2024: Turning Africa's Potential Into Bankable OpportunitIies
COP 29: AfDB Leads Efforts to Amplify Africa's Climate Priorities
African Development Bank at the 79th UN General Assembly #UNGA79
Japan Boosts ADF With JPY 51.67 Billion Concessional Loan
African Development Bank Turns 60
New Digital Era Dawns in Central Africa Republic
Saudi Arabia Invests Billions of Dollars in Africa
Burundi to Increase its Electricity-connected Population by 7%
"Algeria's Economic Recovery is Strengthening" - AfDB
Economic Forecast for Madagascar Shows Growth in 2024 & 2025
2024 Africa Sustainable Development Report (ASDR)
AfDB is "Most Transparent Development Organization in the World"
"Nigeria Cannot Rely on Importation of Food," Warns Akin Adesina
How to Use Mining to Unlock Mauritania's Potential
Comorians Celebrate Transformative Road Built with AfDB Support
AfDB President Adesina Looks Back After Eight Years At the Top
2024 Annual Meetings - Adesina Lays Out 10 Powerful Ideas
Economic Outlook - 41 African Countries Set for Stronger Growth
2024 AfDB Annual Meetings Plans for Africa to Drive Global Agenda
AfDB-Calls for Media Transformation to Uplift Africa's Image
$4 Trillion Is New Annual Financial Target to Save SDGs - Adesina
AfDB and WHO to Transform Africa's Primary Healthcare
New Report on "Regional timber-trade flows and trends in Africa"
AfDB Chief Criticizes Opaque Loans Tied to Africa's Resources
AfDB President Adesina Receives Awolowa Prize and Honorary Degree


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