The African Development and the United Nations agency for industrialisation yesterday signed a memorandum of understanding (MoU), as the two organisations combine forces to industrialise the continent.
BY NDAMU SANDU IN BUSAN, SOUTH KOREA
The MoU between AfDB and United Nations Industrial Development Organisation was signed on the sidelines of AfDB’s annual meetings in Busan.
Unido managing director, Phillippe Scholtès told journalists after the signing of the MoU that industrialisation was a necessary step for the development of any economy.
“We work very closely in areas such as agro processing, creation of integrated industrial parks,” he said.
Scholtès said Unido was also working with AfDB on human capital development, vocational training and curriculum development, activities he said are necessary to support industrial development.
“We count on the co-operation to move together. We stand ready to support the bank,” he said.
The two organisations are working closely for the creation of staple food processing zones in rural areas across Africa resulting in the continent industrialising via agriculture, AfDB president, Akinwumi Adesina said.
“We will be able to change rural economies from zones of poverty to zones of prosperity,” he said.
Unido’s mission is to promote and accelerate inclusive and sustainable industrial development in its member states.
Its focus is predicated on creating shared prosperity, advancing economic competitiveness, safeguarding the environment and strengthening knowledge and institutions.
AfDB has listed industrialisation among its five priority areas alongside, feed Africa, light up and power Africa, integrate Africa and improves the lives of people on the continent.