<\/p>\n
The strategic alliance with African members of the African Forum of Deposit Funds will combine institutional expertise and investment capacity to support more resilient and inclusive economies.<\/p>\n
<\/p>\n
Cooperation will focus on responses to geopolitical and economic uncertainty, climate-related disruption, global shocks, market dependence and socioeconomic inequality. \u201cIn a context marked by global economic uncertainty and the need to mobilise more resources for development, no institution can act alone,\u201d AfDB Group Financial Sector Development Department Director Ahmed Attout said.<\/p>\n
<\/p>\n
\u201cBy strengthening our cooperation with the African members of the African Forum of Deposit Funds, we are creating the conditions for more effective mobilisation of long-term financing to support Africa\u2019s economic transformation, job creation and the resilience of our economies.\u201d<\/p>\n
<\/p>\n
The AfDB and deposit funds will direct joint interventions towards high-potential sectors aligned with national and regional development priorities.<\/p>\n
<\/p>\n
Planned activities include co-financing projects, conducting joint operations and mobilising resources at scale.<\/p>\n
<\/p>\n
The partners will also develop investment vehicles and platforms to finance productive businesses, entrepreneurship and employment opportunities.<\/p>\n
<\/p>\n
African Forum of Deposit Funds Chairperson Maryse Lokossou said deposit funds could direct long-term domestic savings towards projects with substantial economic and social benefits. \u201cAfrican deposit funds have a unique capacity to mobilise long-term savings for national development,\u201d Lokossou said.<\/p>\n
<\/p>\n
\u201cBy combining our expertise and investment capacity with those of the African Development Bank Group, we aim to accelerate financing for projects with significant economic and social impact and help build more resilient and inclusive African economies.\u201d<\/p>\n
<\/p>\n
Lokossou is also Managing Director of the Caisse des D\u00e9p\u00f4ts et Consignations du B\u00e9nin.<\/p>\n
<\/p>\n
The partnership will promote knowledge sharing and institutional capacity development while supporting financing solutions tailored to Africa\u2019s development requirements.<\/p>\n
<\/p>\n
Cooperation will also seek to strengthen protection against economic, financial, climate-related and external shocks.<\/p>\n
<\/p>\n
The partners said the alliance respected the institutional diversity and complementary mandates of participating organisations.<\/p>\n
<\/p>\n
The agreement supports the New African Financial Architecture for Development, which seeks to create a more inclusive and predictable continental financial system.<\/p>\n
<\/p>\n
AfDB and the African deposit funds committed to building a long-term partnership based on mutual trust, shared expertise and measurable development impact.<\/p>\n
<\/p>\n
–AfDB\/ChannelAfrica–<\/p>\n","protected":false},"featured_media":43167,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-45173","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"The African Development Bank (AfDB) Group and African deposit funds have strengthened cooperation to mobilise long-term financing for productive investment, job creation and sustainable development.","published_date":"","news_description":"The African Development Bank (AfDB) Group and African deposit funds have strengthened cooperation to mobilise long-term financing for productive investment, job creation and sustainable development.","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/45173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/45173\/revisions"}],"predecessor-version":[{"id":45175,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/45173\/revisions\/45175"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/43167"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=45173"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=45173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}