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PRESS RELEASE
Kenya: AfDB Launches Information Center for the Extractive Sector
Extractives currently contribute just one per cent to Kenya’s national income; Current estimates suggest the sector may grow to 10 per cent of GDP
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AfDB Director for the Eastern Africa Resource Centre (EARC) Gabriel Negatu pointed out the timeliness of the information center, saying the opportunity to use the sector to accelerate national development and promote economic growth requires careful planning at this critical stage.
According to government estimates, extractives currently contribute just one per cent to Kenya’s national income, and less than two per cent of export earnings. This contribution is set to grow significantly. Current estimates suggest the sector may grow to 10 per cent of GDP.
“AfDB supports the Africa Mining Vision, which sets out how mining can be used to drive continental development. We believe that, as stakeholders, we has a special role to play in promoting knowledge-sharing in Kenya, given our proven track record as a trusted convener and facilitator of Africa’s sustainable development agenda. In order to assist all those who will be affected by extractive industries – citizens, civil society organizations, businesses, development partners and donors – the AfDB has set up the Information Center for the Extractive Sector,” he said.
Housed by the AfDB, the information center will be supported by the United Nations Development Programme and Governments of Australia, Canada and the United Kingdom.
Distributed by APO (African Press Organization) on behalf of the African Development Bank (AfDB).
About the African Development Bank
The African Development Bank (AfDB) Group (http://www.afdb.org) is a multi-lateral development finance institution established to contribute to the economic development and the social progress of African countries. The Bank Group comprises three entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF).
As the premier development finance institution on the continent, the AfDB’s primary objective is to assist African countries – individually and collectively – in their efforts to achieve economic development and social progress. The Bank Group finances projects, programs and studies in multiple sectors such as infrastructure, agriculture, health, education, higher education and training, public utilities, environment, climate change, gender, telecommunications, industry and the private sector.
Media contact: Mercy Randa Tel: +254 771 048 558 / m.randa@afdb.org
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