Funds pledged for Mali reconstruction
By Sarah Ann McCay20 May 2013
Two international development banks pledged finance of up to US$ 665 million to Mali during an international conference for the reconstruction of Mali hosted by France and the EU, which took place in Brussels on 15th May, 2013.
The African Development Bank Group (AfDB) is to make € 240 million (US$ 308 million) available to support the country's government budget and strengthening basic services that have fallen into disrepair.
The AfDB will also provide € 56 million (US$ 72 million) in funding for a drinking water supply project in Mali’s capital city of Bamako. AfDB has also pledged € 35 million (US$ 45 million) towards agriculture and food security in the regions of Koulikoro, Sikasso and Ségou.
Meanwhile, the Islamic Development Bank (IDB) will contribute US$ 250 million for the development of the Republic of Mali.
During the EU meeting, a financial commitment and pledges of € 3.25 billion (US$ 4.17 billion) were made, out of the € 4.343 billion (US$ 5.6 billion) budget needed to implement the Plan for the Sustainable Recovery of Mali, presented by the government of Mali.