Mali receives loan from African Development Bank

The African Development Bank Group (AfDB) has approved a loan of 30 billion CFA francs to the Republic of Mali. According to the AfDB, this amount will be drawn from the resources of the African Development Fund (ADF), the Bank’s concessional window, to finance an Emergency Economic Recovery Support Programme (EERSP). “The EERSP is an emergency budget support operation and part of a concerted effort by the international community to help Mali out of its successive crises (security, political, institutional) that have affected the country, by providing support to the reestablishment of public services and fostering economic recovery.’ “The operation will contribute to the consolidation of peace initiatives and social cohesion undertaken under the ongoing transition. It will help to enhance the reconstruction of the country including the rebuilding of the capacities of the State. The program will equally improve macroeconomic and budgetary framework and create the conditions required for economic recovery. The program’s specific economic outcomes are, among others, restoration of functioning and rebuilding of the capacities of the public administration, restoration of access to basic social services, especially health and education services and support to economic growth expected to increase from 1.2% in 2012 to an average of 5% between 2013 and 2014.”