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Tunis, 26 September 2007 - Mali will receive US$ 15.4 million from the African Development Fund (ADF), the concessional window of the African Development Bank (AfDB), following the approval of a loan of 5 million Units of Account (UA*), equivalent to US$ 7.4 million and a grant of the same amount by the Fund’s Board of Directors on Wednesday in Tunis. The funds will be used to finance a Decentralization and Regional Economic Development Support Project (PADDER) in the country.
The objective of the project is to assist the Government of Mali in promoting an institutional, organizational and good local governance conducive to regional economic development based on an enhanced public/private/regional civil society partnership as well as in revitalizing regional economic activities by strengthening economic inter-communality and institutional, technical and financial capacities of all the actors operating at the regional level. The overall goal is to support Mali in the regionalization of its economic growth strategy to reduce poverty.
The project, to be implemented over a four-year period, will involve Strengthening institutional, organizational, and local governance; economic decentralization, as well as provide support to the regional development process.
The project will focus on five regions (except the District of Bamako) where the incidence of poverty is high. These are Kayes, Koulikoro, Sikasso, Ségou and Mopti. These regions comprise 36 of the 49 circles (Local communities) of the country, 610 of the 703 communes and have a total population of 8,746,000 people representing over 85% of the country’s population living on 28% of the national territory. They have a rich economic potential which can produce sustained economic growth and lower the incidence of poverty in these regions if properly managed.
The total cost of the project is estimated at UA 11.11 million. The ADF loan and grant will finance 90% of the project. The Malian central, regional and local governments, as well as the private sector will provide the remaining 10% or UA 1.11 million.
The Bank Group commenced operations in Mali in 1970. To date, its cumulative commitments in the country stand at US$ 938.05 million (CFA.F 688 billion) in 93 operations.
* 1 UA = 1.53263 = 733.557 FCFA as at 26/09/2007