From Africa Recovery, Vol.15#4 (December 2001), Briefs page

African bank to support universities

Africa's desperately underfunded universities will soon get another source of potential financing. The African Development Bank (ADB), a continent-wide bank headquartered in Abidjan, Côte d'Ivoire, is finalizing a new fund of some $70 mn specifically to support higher education institutions. According to Senegal's Minister of National Education Moustapha Sourang, the Bank is motivated by recognition of the importance of advanced knowledge and skills for the continent's long-term development. Moreover, he said, the ADB believes African universities should also be funded by African regional institutions, and not just governments or external donors.

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