AfDB PRESIDENT RECEIVE US TRESURY INAGURAL DEVELOPMENT IMPACT AWARDS


The President of the African Development Bank (AfDB) Group (http://www.afdb.org), Donald Kaberuka, has received the United States Treasury Inaugural Development Impact Honors Award bestowed on the Mali-Senegal Road project, one of the Bank Group’s regional multinational projects.

 “I am truly honored and humbled to receive on behalf of the African Development Bank the Treasury’s Inaugural Development Impact Honors,” President Kaberuka said at the award ceremony in Washington D.C., chaired by treasury Secretary, Timothy Geithner and attended by members of the U.S. Congress and other prominent personalities.
“We do appreciate recognition from our friends for the modest progress we are making, however we still have a long way to go and we must keep the hard work,” Mr. Kaberuka said.
The U.S. Treasury launched the Development Impact honors award competition for multilateral development Banks
last year in the following categories: Education, Environment/climate, Food security, Health, Infrastructure, Private Sector, Women and girls. 
The Road Improvement and Transport Facilitation on the Bamako-Dakar Corridor Project, which won the award was approved by the Board of Directors of the African Development Fund (ADF), the concessional arm of the AfDB Group, on 21 December 2005 with a loan of USD 83 million (UA 58.16 million) and a grant of USD 11.251 million (UA 7.9 million).
The project was designed to help strengthen economic integration and sub-regional cooperation in West Africa; to open up the hinterland countries of the sub-region and to establish a permanent highway link through the south between Mali and Senegal; and to remove constraints on movement so as to reduce overall transport costs and foster economic exchanges between the two countries.

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