Business
Through this parallel co-financing agreement, support will be provided to key sectors over the next five years
THE African Development Bank Group (www.AfDB.org) and the United States Agency for International Development (USAID) have signed a landmark Regional Development Objective Agreement (RDOAG) to strengthen social and economic development in the Sahel. The signing ceremony was held at the U.S. Embassy in Dakar, Senegal.
The agreement, valued at $600 million, reflects a joint commitment to tackling the critical challenges facing the Sahel region, including security threats, political instability, climate change, and widespread humanitarian needs. Through this parallel co-financing agreement, support will be provided to key sectors over the next five years, including good governance, resilient agriculture, private sector development, water security, sanitation, and health systems.
The Bank was represented by its Director General for West Africa Regional Development and Business Delivery Office Lamin Barrow, and the Country Manager for Senegal, Mohamed Cherif. USAID was represented by USAID/Senegal Mission Director Alyssa Leggoe and Sahel Regional Program Office Director Juan Gamboa, alongside senior USAID officials.
Speaking at the event, Barrow emphasized the strategic significance of this partnership in addressing the region’s pressing challenges: “This agreement is about unlocking the tremendous potential of the Sahel, building resilience, and fostering a more inclusive and prosperous future for its people. We believe that by working together with strategic partners like USAID, we can help tackle the immediate humanitarian needs of people in the Sahel while also driving long-term, sustainable development.”
Leggoe added, “USAID is proud to partner with the African Development Bank to address the root causes of instability in the Sahel. This agreement will build on the long-standing relationship between the two institutions to provide meaningful and direct opportunities for the people of the region, ensuring they have access to economic growth, governance, and essential services.”
The agreement will complement the Bank’s own pipeline of operations in the Sahel, including projects aimed at enhancing food security, improving access to water, and promoting private sector solutions. These projects will be further strengthened by the additional resources from USAID, maximizing impact. Together, the Bank and USAID will jointly implement high-impact projects, collaborating closely with local communities to ensure meaningful results on the ground.
With this new partnership, both institutions reaffirm their commitment to fostering sustainable development and improving the lives of millions across the Sahel.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
A.I
Oct. 1, 2024
Tags: USAID
