Public Management

African Development Bank unveils Policy on Non-Sovereign Operations

Monday, 13 January 2020 19:22
African Development Bank unveils Policy on Non-Sovereign Operations

(AfDB) - The African Development Bank Group on Monday organized a workshop to share its approach to private sector funding through its new policy on Non-Sovereign Operations (NSO Policy).

The policy provides the general framework and modalities required for Bank lending and investment without sovereign guarantee to private and public entities that meet specific eligibility requirements on non-concessional terms.

The workshop, held in Abidjan, was attended by government officials, diplomats, private sector representatives, partner organizations and the civil society. Bank officials engaged with key stakeholders and partners on its policy stance in support of private sector development in Africa.

Our annual private sector investment lending has increased significantly from just about $300 million ten years ago to over $2 billion today and represents the fastest growing segment of the Bank’s operations” Bank Group Senior Vice President Charles Boamah said in his opening remarks.

Overall our approach will be driven by a desire to remain more attentive to our clients’ needs while becoming more responsive and efficient by leveraging our on-the-ground presence in regional member countries,” he added.

Through its various instruments and platforms such as the Africa Investment Forum, the Bank will continue to be proactive in identifying and developing viable projects on the continent with our partners in the private sector.

Souleymane Diarrassouba, Ivorian Minister of Trade and Industry outlined interventions by his government to support private sector investment growth; they included incentives and the enforcement of a strong consultative mechanism with the executive.

There is no doubt that the private sector is the real engine of growth through which we will create decent jobs and decent incomes,” the Minister said. Government interventions have resulted in positive outturns including an average economic growth rate of 8% in the past eight years and a rise in GDP per capita to $1700 from below $1500 in 2015.

The Board of directors of the Bank approved the new NSO policy on  September 12, 2018.  For Victoria Chisala, the African Development Bank’s acting Director for the Strategy and Operational Policies Department, the policy “reflects evolution and growth of the Bank’s innovation in Non-Sovereign Operations, taking into account the new realities of the continent and the global economy”.

The launch was followed by a business-to-business session, which created fruitful networking opportunities between the Bank’s non-sovereign operations technical experts and private sector players to establish common areas of partnership. 

The Bank supports private enterprises through direct lending, equity investment and intermediation, but we should also make more use of other instruments such as guarantees, trade finance facilities and technical assistance in our pursuit of greater development effectiveness.

Similar information and dissemination workshops will be held on the NS policy across the continent in the coming year.

The NSO Policy is available in English and French, via the following links: https://www.afdb.org/en/documents/document/policy-on-non-sovereign-operations-109578

24968 in Agency agrf jennifer blanke agrf afdb copy

Additional Info

  • communiques: Non
  • couleur: N/A
 
Finance


 
Telecom


Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

Benjamin FLAUX
bf@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.