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The Malian government and the African Development Bank (ADB) on Monday signed a loan agreement worth CFA.F 19.60 billion (US $17 million) to finance Mali's 2001-2003 structural adjustment programme (SAP III), the ADB reported.
"SAP III aims to create an environment that will foster more rapid and sustainable growth of the Malian economy," ADB said. "It will be used to finance reforms implemented by the government since 1991 for strengthening economic growth through support to agricultural production namely, the cotton sector, public service delivery, governance and decentralization."
The loan, ADB added, would contribute to poverty alleviation through the improvement of farmers’ income and quality of life while the allocation of supplementary resources to the social sectors would increase enrolment in schools and health coverage.
Mali has 11.3 million people and an annual per capita GNP of US $240; average life expectancy in the West African country is 55 years and 60 percent of adults are illiterate. According to the African Development Report for 2001, some 48 percent of the population had access to safe water and 40 percent to health services while the primary enrolment rate for children of school age was 45 percent.
This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions