afrol News, 29 November - United Kingdom has become the first shareholder to announce doubling of its contribution to the 11th replenishment of the African Development Fund.

Douglas Alexander, the UK International Development Secretary, who discloses the news in Tanzania, says his country's new contribution stands at US $863 million.

"This is the biggest contribution that the UK has made to the African Development Fund”, Alexander says.

“It demonstrates our commitment to help build African institutions, our confidence in the reform process being undertaken by the African Development Bank, and our belief that the Fund can effectively support development in Africa's poorest countries. I'm calling for all donors to increase their support for the Africa Development Fund at the final replenishment meeting in London in December.”

Donald Kaberuka, President of the African Development Bank Group, describes the development as "a concretization of commitments to double aid to Africa, a major boost to the concessional window of the bank's capacity to support low income countries in Africa over the period 2008-2010."

He applauds what he calls "the continuing leadership shown by the UK in its support to Africa and in implementing the commitments made by the G8." But he expects other donors to follow the footsteps of UK.

"I value the confidence shown in the Bank as an African institution. I know this announcement is based on an expectation of improved performance by the Bank. That is no less than Africa itself expects from us, and we are determined to deliver,” Kaberuka says in a news dispatch..

He reiterates the bank's determination to make a major contribution to poverty reduction and attainment of the Milennium Development Goals (MDGs) by improving the productive capacity in Africa, promoting economic integration, investing in infrastructure, private sector development, developing the skills needed to be competitive, as well as stepping up engagement in fragile states.

The bank, he says, continuously aims to change into a dynamic and flexible organisation that better responds to the diverse needs of African countries.

“We are making progress in restructuring the Bank so that there is a greater focus on results, strengthening country focus, decentralization and synergy with other stakeholders. The reform programme will continue,” he assures, adding that the bank has the capacity to channel effectively additional resources to Africa.

The bank's final replenishment meeting in London on 10/11 December will agree on a comprehensive action plan and results framework. “We are ready to be judged on our results,” Kaberuka notes.

“I very much hope that other shareholders will raise the ambitions and also pledge contributions to the replenishment consistent with the needs of Africa today and with the growing capacity of the Bank to deliver."

ADB is not only a major source of development finance in Africa, but also a crucial helper of the continent's countries to meet the MDGs.

By staff writer

© afrol News

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