Germany earmarks millions for projects in Nigeria

The Federal Ministry for Economic Cooperation and Development (BMZ) of Germany has approved a funding of 10 million Euros to support infrastructure expansion in Nigeria and other parts of Africa. This announcement comes as the African Development Bank (AfDB) and KfW have signed an agreement to replenish the New Partnership for Africa’s Development (NEPAD) – Infrastructure Project Preparation Facility (NEPAD-IPPF) Special Fund, which aims to boost infrastructure development.

The agreement was formalised in Berlin, with Helmut Gauges, Head of Financial Cooperation in Sub-Saharan Africa representing KfW, and Hassatou N’Sele, Vice-President and Chief Financial Officer of AfDB, signing on behalf of their respective organisations.

Germany’s financial support will strengthen the efforts of NEPAD-IPPF in priority areas such as climate-smart and green infrastructure. It will also align with the second Priority Action Plan of the Programme for Infrastructure Development in Africa (PIDA-PAP 2) for the period 2021-2030. Additionally, the funding will contribute to Africa’s transformation under the Africa Continental Free Trade Area by enhancing intra- and extra-African trade.

Christoph Tiskens, Director at KfW, praised the achievements of NEPAD-IPPF and emphasised the need for increased resources to meet the growing demands placed on the Fund. He stated that KfW, representing the German Government, is a crucial partner of the African Development Bank and will continue to support initiatives that foster economic growth and poverty reduction.

N’Sele expressed gratitude for the support from Germany and highlighted the importance of partners in helping the AfDB fulfill its development mission. She emphasised the commitment to supporting clients in realising their economic potential through increased infrastructure investments that promote green growth, inclusion, and job creation.

Mike Salawou, Director for Infrastructure and Urban Development at AfDB, welcomed Germany’s contribution as a sign of confidence in the Fund’s ability to fulfill its mandate and recognition of its critical role in Africa’s infrastructure development. He stressed the need to strengthen the Fund with necessary resources to meet its objectives and mandate.