https://en.sputniknews.africa/20240321/african-development-bank-commits-80-million-to-support-burundis-agricultural-sector-1065664829.html
African Development Bank Commits $80 Million to Support Burundi's Agricultural Sector
African Development Bank Commits $80 Million to Support Burundi's Agricultural Sector
Sputnik Africa
AfDB Director General for East Africa, Nnenna Nwabufo, paid a working visit to Burundi from March 18 to 21, where she engaged in discussions with the Burundian... 21.03.2024, Sputnik Africa
2024-03-21T15:05+0100
2024-03-21T15:05+0100
2024-03-21T15:16+0100
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The African Development Bank Group (AfDB) pledged $80 million to provide assistance to Burundi's agricultural industry, the African media reported on Wednesday.The bank also approved $100 million in financing for the construction of a railway line connecting Burundi with Tanzania and the Democratic Republic of Congo, which should start in July.In addition, support for the Burundian government's debt management plan to prevent a debt crisis was reportedly discussed.Nwabufo also commended Burundi for its notable advancements in both the political and socio-economic spheres.The East African country became a member of the AfDB in 1968. The bank’s ongoing portfolio in Burundi is $356.32 million across the agriculture, transport, and power sectors, as per Nwabufo.Since 1974, the AfDB has provided funding for a diverse array of social and economic initiatives in Burundi. These investments have been made in several sectors, including transport, energy, agriculture, rural development, the social sector, water and sanitation, as well as multi-sector projects, according to the organization's website.
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burundi, east africa, railway, african development bank (afdb), economy, finance, debt
burundi, east africa, railway, african development bank (afdb), economy, finance, debt
African Development Bank Commits $80 Million to Support Burundi's Agricultural Sector
15:05 21.03.2024 (Updated: 15:16 21.03.2024) AfDB Director General for East Africa, Nnenna Nwabufo, paid a working visit to Burundi from March 18 to 21, where she engaged in discussions with the Burundian authorities on the existing level of collaboration with the bank and strategies for enhancing it.
The African Development Bank Group (
AfDB) pledged $80 million to provide assistance to Burundi's agricultural industry, the African media reported on Wednesday.
"The Burundian prime minister was happy to hear that the AfDB has mobilized about $80 million that we are going to use to support the country in the agricultural sector to increase the productivity by four or five times, and also to support agro-processing to increase availability of food in the country, but also to increase availability of food for export," Nwabufo was quoted as saying.
The bank also
approved $100 million in financing for the construction of a
railway line connecting Burundi with Tanzania and the Democratic Republic of Congo, which should start in July.
In addition, support for the Burundian government's
debt management plan to prevent a debt crisis was reportedly discussed.
Nwabufo also commended
Burundi for its notable advancements in both the political and socio-economic spheres.
The East African country became a member of the AfDB in 1968. The bank’s ongoing portfolio in Burundi is $356.32 million across the agriculture, transport, and power sectors, as per Nwabufo.
Since 1974, the AfDB has provided funding for a diverse array of social and economic initiatives in Burundi. These investments have been made in several sectors, including transport, energy, agriculture, rural development, the social sector, water and sanitation, as well as multi-sector projects, according to the organization's website.
