By Azania Post Reporter
THE African Development Bank (AfDB) has agreed with the Secretariat of Southern African Development (SADC) on priority areas and practical steps to actualise their partnership aimed at accelerating the pace of development in the region.
According to Dr Stargomena Tax who is Executive Secretary of SADC, the agreed priority areas include: identification and operationalisation of viable financing instruments to support infrastructure and value chain projects.
Others are technical support towards preparation of value chains; technical expertise to drive the preparation of instruments to operationalise the SADC Development Fund; and support to capacitate Regional Development Financial Institutions.
She said in a statement that next steps are to finalise the short, medium and long term activities and to clearly define the responsibilities of the Parties. This is expected to be finalised by January 30, 2018.
The Executive Secretary highlighted that SADC values the important role that the AfDB plays in supporting regional integration and development in Africa.
Dr Tax commended the AfDB Mission and staff at the SADC Secretariat for working together to come up with priority areas and practical steps to operationalise the Bank’s areas of development assistance to Secretariat.
She noted that the agreed priorities are in line with SADC policies, strategies and priorities.
On her part, the Deputy Director-General of the AfDB’ Southern Africa Regional and Delivery Service Office in Pretoria, South Africa, Dr Josephine Ngure, underscored the need for close collaboration and partnership between the Bank and the Secretariat in order to make a lasting impact on the lives of the people of the SADC region.
She said the Bank’s areas of support envisaged for the SADC Region are consistent with the Bank’s five priority areas known as the “High Fives” that were introduced in 2015, which are; Light up and power Africa, Feed Africa, Integrate Africa, Industrialise Africa, and Improve the quality of life for the people of Africa.
Aligned to the Bank’s Ten Year Strategy, the “High Fives”, seek to advance Africa’s transformative agenda over a period of 10 years.