Posted by: APO | 8 May 2013

The AfDB supports economic recovery in Mali with a loan of more than 30 billion CFA francs


The AfDB supports economic recovery in Mali with a loan of more than 30 billion CFA francs

TUNIS, Tunisia, May 8, 2013/African Press Organization (APO)/ The African Development Bank Group (AfDB) (http://www.afdb.org) approved on Wednesday, May 8 in Tunis, a loan of 30 billion CFA francs to the Republic of Mali. This amount will be drawn from the resources of the African Development Fund (ADF), the Bank’s concessional window, to finance an Emergency Economic Recovery Support Programme (EERSP).

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The EERSP is an emergency budget support operation and part of a concerted effort by the international community to help Mali out of its successive crises (security, political, institutional) that have affected the country, by providing support to the reestablishment of public services and fostering economic recovery. The operation will contribute to the consolidation of peace initiatives and social cohesion undertaken under the ongoing transition. It will help to enhance the reconstruction of the country including the rebuilding of the capacities of the State. The program will equally improve macroeconomic and budgetary framework and create the conditions required for economic recovery. The program’s specific economic outcomes are, among others, restoration of functioning and rebuilding of the capacities of the public administration, restoration of access to basic social services, especially health and education services and support to economic growth expected to increase from 1.2% in 2012 to an average of 5% between 2013 and 2014.

The Transition Government in Mali has prepared an Emergency Priority Action Plan (PAPU) the objectives of which are the restoration of the functioning of public services, re-establishing access of the populations to basic social services and resumption of economic activity. The EERSP will help the State respond to urgent social and economic needs in the wake of the successive crises and its implementation. Furthermore, this operation, in line with the Bank’s intervention in Mali, is found on the Transition Support Strategy (2013-2014) hinged on a dual objective, to mitigate the impact of the crisis and strengthen the population’s resilience, and to consolidate the Government’s stability and the foundations for economic recovery.

The program beneficiaries will be the Malian population as a whole, i.e. about 15.4 million inhabitants, and, in particular, those living in the northern part of the country, especially those displaced as a result of the conflict. More specifically, these are people living under difficult conditions due to the absence of basic public services in the areas affected and the congestion of basic public services in the areas that accepted the displaced persons. The main beneficiary structures comprise the school network, public health services, and in general, the public administration which must return to a normal working order. The Government will then be able to consolidate its legitimacy and restore its sovereignty in the whole of Mali.

To date, funding approved by the African Development Bank Group in Mali is about 140 billion CFA francs.

The aim of the AfDB is to enhance and strengthen its support to Fragile States and those affected by conflict.

Distributed by the African Press Organization on behalf of the African Development Bank.

Contact: Achraf Tarsim, a.tarsim@afdb.org +216 71 10 35 93

SOURCE

African Development Bank (AfDB)


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