ADB Approves US $23.14 Mil for Five Countries
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UN Integrated Regional Information Network
June 21, 2001
Posted to the web June 21, 2001
Abidjan
The African Development Bank (ADB)has approved loans totalling US $23.14 million for five West African countries for the execution of various development projects, according to official statements received on Thursday. The loans are to be disbursed from ADB's African Development Fund, its concessionary lending arm. They will go to Mali, The Gambia, Guinea-Bissau, Guinea and Senegal.
Mali will get the equivalent of US $7.11 million to finance a project promoting widespread use of certified seeds in agriculture, expected to improve food production and reduce poverty. Guinea-Bissau will receive US $1.37 million to develop institutional support for rural development programmes.
A loan of US $14.66 million is aimed at helping member states of the Organisation for the Development of the Gambia River Basin - The Gambia, Guinea, Guinea-Bissau and Senegal - to alleviate poverty and improve living conditions. "It (the funding) specifically seeks to increase agro-forestry and pastoral output, rationalize tapping of the natural resources and improve social infrastructure in the project area," the ADB statement said.