International partners pledge $23.5bn for Niger’s national development program
Several partners have pledged to contribute up to $23.5 billion to the Niger’s Economic and Social Development Program known as PDES 2022-2026, the office of President Mohamed Bazoum has announced on the sidelines of an investors’ roundtable held in Paris dec.5-6.
“At the end of the first day, 22.3 billion euros (23.405 billion USD) of commitments were announced by the technical and financial partners for the realization of the PDES 2022-2026,” the office said Tuesday.
The technical and financial international partners include the African Development Bank (AfDB), UNDP, France and The Netherlands.
Bazoum launched Monday the investors roundtable in a bid to lure funds for PDES that requires, he indicated, around $30 billion and contributions from international technical and financial partners and the private sector is estimated at $17 billion.
The West African country expects to lure investments for sectors including mining and petroleum, energy infrastructure, agro-pastoral and agro-industrial, as well as in the hotel industry and social housing.
The program hinges on three strategic axes namely development of human capital, inclusion and solidarity, consolidation of governance, peace and solidarity and finally the structural transformation of the economy. The axis focuses on development of education and training, health, access to drinking water, hygiene and sanitation, social protection, employment, gender, youth, sports and culture, research and innovation for the structural transformation of the economy.
The second axis seeks to make Niger a stable, strong and resilient democratic state through good political, economic and administrative governance as well as the promotion of fair and accessible justice for all.
The PDES 2022-2026 addresses structural transformation of the economy. It will aim to boost growth sectors that are strong, sustainable, inclusive, more resilient and liable to create decent jobs. To meet the goal, authorities seek to promote a dynamic private sector and modernize the rural world.
Niger according to the office of President Bazoum expects to achieve an economic growth of 8.5 until the program winds up.
