THE African Development Bank (AfDB) and the African Solidarity Fund (ASF) have signed a letter of intent to strengthen the two institutions’ working relationship and synergy.

The partnership was ratified by Aida Ngom, Director of the Private Sector Development Department, on behalf of the African Development Bank Group, and Abdourahmane Diallo, the Fund’s Managing Director, at the opening ceremony of the third Ordinary Session of the Board of Governors of the African Solidarity Fund.  

This strategic partnership represents a first step towards boosting cooperation between the Bank and the Fund as regards knowledge-sharing and technical assistance in a number of areas related to risk management and the organisational and management structures of the ASF.

Diallo described the signing as a symbol of an ambitious and promising partnership between the two institutions. He stressed the unwavering commitment of his teams to completing work in progress, which includes dynamic collaboration to implement the Bank’s projects and programmes aimed at young people, women and other target groups in Africa. “This approach reflects the African Solidarity Fund’s commitment to promoting inclusive and sustainable development on the continent,” he said.

“As far as the African Development Bank is concerned, the African Solidarity Fund is a strategic and important institution. We look forward to our two institutions working more closely together via this strategic partnership,” said Ngom.