Over US $7 million for poverty reduction

The Abidjan-based African Development Bank (ADB) has signed a number of agreements with Djibouti aimed at poverty reduction and improving the situation of women. According to an ADB press release, two loan and two grant agreements were signed amounting to a total of US $7.22 million. A structural adjustment loan will help reduce poverty through the promotion of good governance, improving the legal framework for business, and the greater participation of civil society in development. The second loan is aimed at boosting the fishing sector by increasing fish production and reducing Djibouti's food dependence on the outside world. The first grant will finance an institutional capacity building project for the "good governance of public finances". The second grant will fund a project to improve the condition of women and thus "enable them to make a better contribution to the country's development". To this end, the project will strengthen the ability of government departments, civil society organisations and the media to prepare and promote women's advocacy programmes. The press release said these four projects bring to about US $109 million the ADB's total commitment to Djibouti. "They will contribute in a significant manner to government efforts towards poverty reduction and improving the situation of Djibouti citizens," it added.