Abidjan, 23 December 2022 (TDI): The African Development Bank (AfDB) will help to build sustainable infrastructure and economy in Mauritius. The bank intends to foster economic resilience by enhancing the business climate and high value-added output.
In Abidjan, the Board of Directors of AfDB Group approved the Mauritius Country Strategy Paper for 2022–2027 as well as the implementation of the designated priority development areas.
Aims of the Bank
To encourage and develop a more productive, sustainable, inclusive, and resilient Mauritian economy the Bank will support private sector development.
Moreover, the Bank will promote important economic, regulatory, and institutional reforms. This will help to lower operating costs and improve the environment for private investment.
The Bank also prioritizes assisting in the removal of production obstacles that raise costs and reduce companies’ ability to compete. The development of infrastructure, particularly in the fields of electricity, water, and transportation, will be the main focus.
In order to improve Mauritius’ regional and global connectivity and competitiveness, the Bank will assist the strategic construction and upgrading of cost-effective infrastructure.
Establishing the National Renewable Energy Roadmap 2030 is the main goal of support as far as the energy sector is concerned.
In order to improve sustainability and aid the nation in reducing the impact of hydro-meteorological conditions on infrastructure, the Bank will take climate change resilience into account when funding infrastructure projects.
Mauritius-Country Strategy Paper 2022-2027
The African Development Bank’s engagement in Mauritius from 2022 to 2027 is proposed in this country strategy paper (CSP).
The study outlines the approach that will direct the Bank’s assistance throughout the upcoming five-year cycle, which runs from 2022 to 2027.
In addition to outlining the Country Portfolio Performance Review (CPPR) and the insights and lessons discovered via the Bank’s interactions with Mauritius, it assesses recent economic trends and prospects.
Five activities totaling $262.29 million were part of the African Development Bank Group’s active portfolio in Mauritius as of September 30, 2022.
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