ADB signs agreement with MCC to reduce poverty in Africa

12 October 2010

On 8 October 2010, the American governmental agency MCC and the African Development Bank signed a memorandum of understanding to reduce poverty and promote economic growth in Africa.

The two institutions will collaborate in the implementation of development programs in Africa,  especially in the domain of infrastructure.

The first country to benefit from this agreement should be Mozambique, reports the site African Manager.

"We have reached an agreement to implement technical co-operation and parallel financing in key areas such as infrastructures, water and sanitation, agriculture, the environment, health and gender integration", said ADB president Mr. Kaberuka.

Last Monday, the ADB also announced that a loan of 30 million dollars had been granted for the construction of a cement works in Rwanda.

This project should encourage economic growth, support the development of infrastructures and reduce the level of poverty in the country, reports a pres release from the institution.

Categories: General, Water, Transport

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