The African Development Bank (AfDB) announced in a statement received by APA on Friday that it approved on June 27 a $5.3 million grant aimed at improving the public-private partnership (PPP) environment in Gambia, Guinea-Bissau, Madagascar, and Togo.
This funding, allocated through the Bank’s Transition Support Facility, seeks to catalyse private investment in the four countries by enhancing the institutional and regulatory framework governing PPPs.
The project is structured around three main components. The first focuses on strengthening the PPP environment to make the framework more attractive to the private sector and to improve the negotiating capacity of contracting authorities.
The second component aims to increase local private sector participation in PPPs by serving as a practical case study to familiarise stakeholders with the various stages of a project cycle.
Finally, the third component plans to establish a project management unit to ensure effective oversight and strategic supervision.
“The project will enable the Bank to continue its efforts to strengthen the business environment and promote the private sector already underway in these four countries,” said Solomon Quaynor, AfDB Group Vice-President for Private Sector, Infrastructure and Industrialisation, quoted in the release.
This initiative aligns with the pan-African financial institution’s ongoing commitment to developing Africa’s private sector and improving the continent’s business climate.
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