AfDB's Urban and Municipal Development Fund to partner with Spanish private sector

ICEX Spain Trade and Investment and the African Development Bank (AfDB) have signed a cooperation agreement to consolidate engagement of Spain’s private sector for urban development in Africa. The agreement will more specifically foster cooperation between the Spanish business entity and the Urban and Municipal Development Fund (UMDF), a multi-donor trust fund hosted by the African Development Bank.

The Spanish public agency will mobilise Spanish expertise for African cities, including cross participation in events, data and knowledge sharing.

“The bank is very pleased with the Spanish-African partnership, especially its collaboration between ICEX and the UMDF, supporting project development of urban infrastructure and planning,” said Stefan Atchia, manager of the AfDB’s urban development division.

The Urban and Municipal Development Fund promotes sustainable, resilient and inclusive urban planning in the AfDB’s member countries. The fund facilitates infrastructure project financing and implementation across Africa. It emphasises the role of private sector expertise and financing to fill the services and urban infrastructures gap in African cities.