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11.06.2007 General News

Sweden Provides $30m For ADF Replenishment

The government of Sweden is providing $30 million as supplementary contribution to the African Development Fund (ADF).

The contribution was part of an agreement reached during the 10th replenishment of the ADF, stipulating that the funds would be released if the bank made progress towards the objectives set out in the “Harmonisation and Managing for Results Action Plan”. 

The announcement was made in Tunis last Wednesday during a meeting of the ADF Board by the Alternate Executive Director for the constituency that included the Nordic, Indian and Swiss member countries.

Mr Bjorn Gillsater of Sweden informed the board members that the Swedish government had come to the conclusion, based on an assessment of progress made over the time period December, 2005 to May, 2007.

 

Mr Gillsater said the decision, taken during a government Cabinet meeting on May 31, mentioned “certain specific signs of progress, including the rapid opening of new field offices, participation in Joint Country Assistance Strategies, and joint analytical work in, for example, the area of procurement assessments”. 

He said the government decision also pointed to the fact that the bank's contribution to the harmonisation and managing for results agenda “is still in its early stages and much work remains, but the Government believes that the institution has come a long way in a short period of time.”

The president of the Bank group and Chairman of the Board, Donald Kaberuka, thanked the Swedish government for what he called a most encouraging gesture of support. 

Sweden joins four other donors that have made supplementary contributions to the ADF since the finalisation of the ADF-X replenishment cycle in December 2004.

The four countries are Belgium, the Netherlands, Switzerland and the United Kingdom.

 

 

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