Akinwumi Adesina, President of the African Development Bank Group, on Monday reiterated that the Bank will continue to provide strong support to the Central African Republic to lead the country towards stability, recovery and development.
“We will be at your side,” President Adesina told President Faustin-Archange Touadéra on November 7 at the headquarters of the AfDB. The Bank has always accompanied its members countries dealing with situations of fragility. President Touadéra, who is visiting Côte d’Ivoire, also met with the members of the Bank’s Board of Directors to discuss the current economic situation of his country. The Board echoed the words of the AfDB President and highlighted that the Bank will support the Central African Republic in a way that will help the economy rebound.
President Touadéra’s visit to the Bank was part of a process of advocacy to mobilize resources in favour of the consolidation strategy of peace and recovery that his government has prepared with the support of partners technical and financial. This strategy will be presented at a donor roundtable to be held in Brussels on November 17, 2016.
President Touadéra thanked the Bank for its support during these difficult times. He also highlighted the challenges facing the country. The CAR still faces significant challenges. In addition to tackling the impact of several years of armed conflict, CAR must address significant humanitarian and security challenges as well as high levels of poverty. The Government also needs to focus the resilience of the most vulnerable groups of the population.
The Government intends to raise US $3 billion for the next five years. Adesina concluded the meeting emphasizing that the Bank will have a high-level representation at the donor roundtable in Brussels. The Bank has already provided some US $900,000 for the organization of the meeting.
At October 31, 2016, the portfolio consisted of nine projects for a total commitment of US $103.29 million, covering energy, social, water and sanitation, governance, agriculture and environment. The Bank has initiated the preparation of a new Country Strategy Paper.