AfDB Discusses Sub-national Financing at 2nd Kaduna State Investment Summit

The African Development Bank on Thursday 6th April, participated in the 2nd Kaduna Investment Forum (Kadinvest 2.0) in Nigeria’s northern State of Kaduna. Kadinvest 2.0 is an avenue for investors and donors to interact with top government officials and executives in the state, with the view to ensuring that investor/donor funds are targeted to the most viable priority sectors and ultimately have the desired impact on job creation and social development. Through the unveiling of the Ease of Doing Business Charter, the summit highlighted innovative approaches such as process mapping and digitization that the state is employing to attract and keep high value investments.

Representing the President of the Bank, the Senior Director of the Nigeria Country Department (RDNG), Ebrima Faal held an engaging panel discussion on Development Finance in the Sub-nations. Other discussants at the event included Zainab S. Ahmed, Minister of State for Budget and National Planning, Eme Essien, The Country Manager, Nigeria International Finance Corporation (IFC), Aisha Abubakar Minister of State for Trade and Industry, Waheed Olagunju, Acting MD/CEO, Bank of Industry (BOI), and  Eye Ekpo, Business Development Executive from GE Transportation.

Speaking on the new AfDB Urban Development Strategy, Faal elaborated on policy and mechanisms of sub national financing, as well as a trust fund dedicated to urban and municipal development that will help to build urban management capacities in African municipalities and cities; to create a pipeline of urban projects, to develop knowledge on urbanization in Africa, and implementation of the Bank’s Urban Development strategy. He also mentioned the Bank’s focus on Agriculture with a view to tapping into existing and emerging agricultural value chains to create jobs for Africa’s growing youth population.