The African Development Bank Group and the European Bank for Reconstruction and Development (EBRD) on Monday signed a memorandum of understanding to promote sustainable private sector development in Africa. They will also work on improving business environments, bolstering the real economy and mobilising private sector investment. Covid-19 is threatening progress made towards the UN Sustainable Development Goals and is exacerbating debt vulnerability of many African countries. Sustainable private sector development will be key to recovery and prosperity across the continent. It comprises three distinct entities: the African Development Bank, the African Development Fund, and the Nigeria Trust Fund.

Source: The North Africa Journal May 17, 2021 08:15 UTC