|Approval Date||18 Nov 2020|
|Signature Date||18 Nov 2020|
|Planned Completion Date||31 Mar 2024|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||11330|
The proposed operation is a Technical Assistance Project for Leveraging Investment for Africa from Asian Private Corporations. The project will be implemented with proceeds of Fund for African Private Sector Assistance (FAPA), which is generously financially contributed by the Government of Austria and the Government of Japan. Indeed, Africa’s expanding market and its huge economic potential, together with the initiatives of the governments of Asian countries and public financial institutions for business development in Africa such as TICAD (Tokyo International Conference on African Development), investment in Africa has gained momentum. African Diplomatic Corps (ADCs), a body formed by the African diplomatic missions, based in the 4 Asian member countries are also doing investment promotional activities for Asian private sector. By taking advantages of the dynamics of calling for investment from Asia and Africa, SNAR, together with ADCs investment promotion committees, will implement a 3 years project to initiate and originate the AfDB’s projects of Non-Sovereign Operations (NSOs) from Asia. The project components are: (i) Providing knowledge seminar for ADCs investment promotion committees on financial products and services provided by financial institutions, especially Asian public financial institutions and the Bank; (ii) Reinforcing investment promotion committees’ functions towards public and private stakeholders based in the Asian Non-RMCs; (iii) Identifying and preparing opportunities of financial intervention by financial institutions, especially the Bank and Asian public financial institutions as a leverage to crowd in investment.
The indicative goal of the project is to provide capacity building program for investment promotion committees of ADCs based in the Asian Non-Regional Member Countries, so that ADCs can reinforce its pivotal role in calling for investment to Africa with the AfDB’s financial intervention as a "leverage” to crowd in Asian private finance to Africa, and thereby contributing to increase investment to Africa from the Asian Non-RMCs.
The project beneficiaries are mainly the Regional Member Countries (RMCs) as well as non-regional Asian member countries.
Fund for African Private Sector Assistance
|Last Update||22 Sep 2021|