The AfDB and the African Solidarity Fund seal a strategic partnership

Hibapress

The African Development Bank (AfDB) and the African Solidarity Fund (ASF) officially signed a letter of intent last Friday in Abidjan aimed at strengthening collaboration and synergies between the two institutions.

The partnership was sealed by Aida Ngom, Director of the Private Sector Development Department, on behalf of the AfDB Group, and by the Managing Director of the Fund, Abdourahmane Diallo, during the opening ceremony of the 3rd ordinary session of the Board of Governors of the African Solidarity Fund.

According to a press release from the ADB, this strategic partnership constitutes a first step which aims to strengthen collaboration between the Bank and the Fund in the sharing of knowledge, and technical assistance in several areas related to risk management, structures organizational and management aspects of the FSA.

“The African Solidarity Fund is a strategic and important institution for the African Development Bank Group. We look forward to seeing our two institutions work more closely through this strategic partnership,” said Ms. Ngom.

The African Solidarity Fund (ASF) is a multilateral financial institution headquartered in Niamey, Niger.

Its mission is to contribute to the economic development and social progress of its African member states by facilitating, through its various intervention techniques, access to the financial resources necessary for the implementation of investment projects and other income-generating activities. income.

The Fund’s main intervention technique is the guarantee of bank loans intended to finance operations or projects of an industrial, agricultural, commercial, infrastructure and service nature, financially and economically profitable, carried out or to be carried out in regional member states. .