March 19, 2024 – Cairo, Egypt
The AFREXIMBANK Headquarters played host to a significant technical engagement on March 15th and 16th, 2024. The event brought together key stakeholders from the Common African Agro-Parks (CAAPs), with a particular focus on representatives from the Zambia-Zimbabwe CAAP (ZimZam CAAP) and the Cote d’Ivoire-Ghana Cocoa CAAP (CIG CAAP).
Chaired by Dr. Janet Edeme, Head of Department at the African Union Commission (AUC), and Mr. Zitto Alfayo, Head of Project Preparation Unit at AFREXIMBANK, the meeting focused on the readiness of CAAPs projects for funding through AFREXIMBANK.
The meeting commenced with a series of key messages outlining the significance of CAAPs in advancing agro-industrial development across Africa. AFREXIMBANK reaffirmed its commitment to collaborate with AUC and CAAPs stakeholders to mobilize $20.8 million for the implementation of the 7 CAAPs Programme Clusters, with a particular focus on kickstarting ZimZam and CIG CAAPs initiatives.
Updates and prospects regarding CAAPs were presented, highlighting its alignment with Agenda 2063 aspirations and the endorsement of CAAPs as a flagship program. Challenges in securing stable financial resources for CAAPs coordination activities were acknowledged, prompting discussions on leadership commitments and the establishment of a CAAPs Fund at AFREXIMBANK.
The meeting also addressed funding modalities through the Project Preparation Facility (APPF) and the proposed Joint Project Preparation Facility (JPPF), emphasizing the need for tailored approaches to accommodate the unique requirements of CAAPs projects.
Updates on ZimZam CAAP and CIG CAAP showcased progress in project preparation, with discussions focused on finalizing feasibility studies and securing necessary approvals. Action plans were outlined to expedite project readiness and engage relevant stakeholders.
Dr. Janet Edeme expressed optimism about the outcomes of the meeting, stating, “This engagement marks a crucial step forward in realizing the potential of CAAPs projects to drive sustainable development and intra-African trade. The collaboration between AFREXIMBANK, AUC, FARA and other stakeholders underscores our collective commitment to transforming the agricultural landscape in Africa.”
Looking ahead, the CAAPs Secretariat at FARA will continue to work closely with AFREXIMBANK and other partners to ensure the timely implementation of CAAPs projects, further advancing the continent’s agro-industrialization agenda.
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