Tunis, July 24, 2006 – The Board of Directors of the African Development Fund (ADF) today approved a grant of 20 million Units of Account (UC*), equivalent to US$ 29.58 million to finance a higher education support project in West African Economic and Monetary Union (WAEMU) countries.
The project is in line with the WAEMU Regional Economic Program (Programme économique regional - PER), whose fourth strategic pillar is human resources development through the higher education systems of member countries.
The project will enable WAEMU implement reforms adopted by member countries in three main areas: education, academic research, governance and management of higher education systems.
The project comprises three components: Support for Reforms and Harmonization of Higher Education Systems in WAEMU countries; Support for Academic Research, and Project Management.
The project will help increase the quality and relevance of training programs by providing support in the implementation of the first Bachelor/Master/Doctorat program in the eight WAEMU countries, as well as the mobility of students and teacher-researchers. A large proportion of project resources will be earmarked for strengthening the capacity of teachers and researchers, integrating information and communication technologies into teaching methods, and adopting efficient management practices. This investment will help train approximately 2,000 teachers and researchers, 500 administrative and support staff.
The total cost of the project, excluding taxes and customs duties, is estimated at UA 23.20 million, of which UA 18.93 million will be in foreign exchange and UA 4.27 million in local currency.
The West African Economic and Monetary Union (WAEMU), instituted by treaty on January 10, 1994, comprises eight West African countries namely Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo. To date the cumulative approvals of the ADB Group to WAEMU stands at UA 137.66 Millions for 6 projects.
1. COUNTRIES: WAEMU Member Countries
2. PROJECT TITLE: Support for Higher Education in WAEMU Countries
3. LOCATION: Benin, Burkina Faso, Cote d’Ivoire, Guinea-Bissau, Mali, Niger, Togo and Senegal
4. BORROWER: WAEMU Commission
5. EXECUTING AGENCY: Department of Social Development, Directorate of Higher Education and Vocational Training 01 BP 543 Ouagadougou 01, Burkina Faso Telephone: (226) 31 88 73; Fax: (226) 50 31 88 72
6. FINANCING - ADF GRANT: UA 20,00 million - WAEMU: UA 3,20 million
7. DATE OF APPROVAL: July 2006
8. STARTING DATE AND DURATION: October 2006: 5 years
* 1 UC = 763,317 FCFA = 1,16367 euros au 31/07/2006