The Acting Director General of Directorate of Technical Cooperation in Africa, DTCA, Mohammed Kachallah, on Monday, said out of $25 million of the Nigeria Technical Cooperation Fund, NTCF, there is still $3.7 million unspent fund that would be used in the next two years.
Kachallah stated this while addressing journalists ahead of events to mark ten years of NTCF which begins tomorrow in Abuja.
The NTCF, a twenty-five million United States Dollar (US$25,000,000) Fund, co-managed by the DTCA and AfDB was established as a grant facility for development projects/programmes with a view to contributing to the socio-economic and technological development of Regional Member Countries (RMCs) and to promote regional cooperation and economic integration in Africa.
“We have $3.7 million of unspent money but the money would be used for the next two years,” Kachallah said at the briefing.
The Fund which became operational on 5th April 2004, is the largest single bilateral co-operation fund by an African Country at the AfDB and a remarkable symbol of Nigeria’s commitment to promoting African brotherhood, solidarity and sustainable development of Africa in the spirit of South-South cooperation.
This fund has also contributed to the economic and technological development of Regional Member Countries, RMC, has promoted regional cooperation and economic integration of the African continent.
Kachallah said the fund was established for the implementation of projects/programmes at an annual depletion rate of US$2.5 million over a period of ten (10) years.
“The fund is domiciled at the African Development Bank, AfDB, and being co-managed with the DTCA, of the Ministry of Foreign Affairs and AfDB. The fund has completed its first life cycle and has been utilised and deployed into development projects and programmes that has benefited directly or indirectly the 54 African countries.
“Since the establishment of the Fund, a total of One Hundred and twenty three, 123, project proposals were considered as at June, 2014; Sixty nine were approved, with twenty four fully concluded and completion reports while the rest are at various stages of implementation”.
He said the fund was established by the Nigerian as a specialised technical assistance seed fund for the promotion of African solidarity, regional integration and technological advancement, as well as economic independence.
The fund focuses on on development of science and technology, health, business, and finance, agriculture, education, public administration, regional integration, climate change, and green development, governance and gender issues.
LAIDE AKINBOADE-ORIERE
