News

MCDF-African Union Development Agency-NEPAD CEOs Lay Groundwork for Cooperation to Promote High-quality Connectivity in Africa

Beijing, China, 6 September 2024

Multilateral Cooperation Center for Development Finance (MCFD) CEO Zhongjing Wang and Ms. Nardos Bekele-Thomas, CEO of the African Union Development Agency-New Partnership for Africa’s Development (AUDA-NEPAD), laid the groundwork for MCDF-AUDA-NEPAD cooperation to promote high-quality connectivity on the continent during a meeting at the MCDF Secretariat in Beijing on 6 September.

CEO Wang and CEO Bekele-Thomas discussed accelerating infrastructure demand in African countries and MCDF’s and AUDA-NEPAD’s experiences and lessons for supporting connectivity infrastructure financing and development on the continent through grants and technical assistance centering on project preparation, capacity building, and information-sharing.

CEO Bekele-Thomas described AUDA-NEPAD’s resource mobilization for development activities in Africa and the high priority ascribed to its infrastructure work, particularly via the Programme for Infrastructure Development in Africa (PIDA).

She went on to explain AUDA-NEPAD’s focus on seeking bankable projects, provision of project preparation support, and interest in greater capacity building and private sector investment to facilitate infrastructure project financing and development.

CEO Wang highlighted the MCDF Finance Facility’s growing number of accredited Implementing Partners (IPs) which cover Africa and rapidly increasing support for IP projects on the continent, as approved by the MCDF Governing Committee.

As of 24 September 2024, MCDF has provided AfDB with USD16,253,564 in grant support for the preparation of 4 transport, energy, and multi-sector projects, capacity building for 3 projects, covering ports, trade, and environmental and social sustainability, and information and knowledge sharing for 2 projects, focusing on trade facilitation and transport.

CEO Wang welcomed AUDA-NEPAD to participate in MCDF’s knowledge-sharing events covering topics of importance to Africa, such as public-private partnership “hot topics,” investment facilitation, procurement support for contractors, anticorruption, and debt sustainability. He also encouraged AUDA-NEPAD staff to use JIGSAW, MCDF’s growing digital tool to promote high-quality connectivity investment.

“MCDF looks forward to further exploring ways to enhance synergies between MCDF and AUDA-NEPAD to promote sustainable, high-quality connectivity infrastructure financing and development in Africa,” CEO Wang concluded.