ADDIS ABABA, Sept. 2 (Xinhua) — Eritrea and the African Development Bank Group (AfDB) have pledged to enhance their collaboration in order to bolster the nation’s growth and enable sustainable development in the future, according to a statement released by AfDB on Friday.
The meeting between Eritrea’s President Isaias Afwerki and the President of AfDB, Akinwumi Adesina, took place in the Eritrean capital city of Asmara.
During the meeting, President Afwerki expressed his appreciation for the strategic role played by AfDB in improving the lives of the Eritrean people.
He further stated that the African Development Bank Group had been chosen as the preferred partner to facilitate rapid socio-economic development and transition the economy from subsistence to industrialization.
“We have engaged in fruitful discussions with the bank and are determined to strengthen our collaboration in a sustainable manner,” Afwerki was quoted as saying in the statement.
In April, the board of directors of AfDB approved a financing grant of $49.92 million for the construction of a 30-megawatt solar photovoltaic power plant in Dekemhare, which is considered as the largest investment made by the bank in Eritrea.
This project is expected to have a transformative effect on enhancing access to energy in the country, highlighted the AfDB.
Adesina, highlighting the importance of the partnership between AfDB and Eritrea, stated that the bank was currently providing support to the country in numerous sectors including energy, water and sanitation, agriculture, skills and capacity development, and economic and financial governance.
Credit: The Star : News Feed
