Fund for African Private Sector Assistance
Basic Data (as of 25 July 2018)
- Date of agreement: January 24, 2006 converted into a multi-donor agreement with the participation of Austria in October 2010.
- Current volume of the fund: US $87.47 million
- Net Project Approvals: 75 projects, US $64.58 million
- Average project amount: US $861,129
- Completed Projects: 34
- Ongoing Projects: 41
- Financial contributors: Government of Japan (US $74.18 million), AfDB (US $10.6 million), Government of Austria (Euro 1 million), and Development Bank of Austria (Euro 1 million).
The first component of the Enhanced Private Sector Assistance for Africa (EPSA) initiative, the Fund for African Private Sector Assistance (FAPA), was approved by the Board in October 2005 and the original Exchange of Letters was signed between the Bank and the Government of Japan on 24 January 2006.
FAPA was established as a bilateral fund with the understanding that, in line with the Technical Cooperation Fund Reform of 2006, it would evolve into a multi-donor thematic trust fund. This was achieved in October 2010 when Austria joined the Fund and the original bilateral agreement was replaced with a Board-approved Multi-Donor Arrangement. Since 2006, FAPA has received over USD 87 million in contributions from its donors.
- 12/06/2019 African Development Bank, African Union-NEPAD, partners launch African Agri-Business Engine for private sector agricultural finance with FAPA grant
- 28/05/2019 Japan and Austria to support private sector climate change investments on the continent
- 25/09/2018 African Development Bank Boosts Jobs for Youth in Africa Strategy with close to $2 Million
- 21/09/2018 Liberia: African Development Bank Approves $1mn to boost Private Sector in Wood Industry
- 13/07/2018 African Development Bank and AfreximBank sign Strategic Factoring project to support African SMEs