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Nordic Development Fund Raise Financial Support To Boost Urbanization In Africa
['Eric Ojo']
Africa | African Examiner
Nordic Development Fund Raise Financial Support To Boost Urbanization In Africa(AFRICAN EXAMINER) – In a bid to further strengthen its partnership with African Development Bank (AfDB), the Nordic Development Fund (NDF) has announced a significant increase in its financial support for urban city development in Africa.
The Fund focuses on the nexus between climate change and development in lower-income countries and countries in fragile situations.
The latest contribution of €10 million will go to the Urban and Municipal Development Fund (UMDF), a thematic multi-donor trust fund that helps African countries to spur climate-resilient, livable and productive urbanization.
With this second grant, NDF is the largest contributor to date to the AfDB in sustainable urban development.
This support may be the most direct and effective way to unlock the development potential of Africa”, he stressed.
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