In his remarks, Yi Gang also noted that the Sharm El-Sheikh project is the first approved under the AGTF
and expressed confidence that "the Fund will continue to invest in excellent projects such as this project.
He even extended a special welcome to Yi Gang, Deputy Governor of the People s Bank of China, for attending the ceremony and appreciated the key role he played in helping put together the AGTF
The project led by the AGTF
consists in the comprehensive documentation of the structures located on Flat Island with the view to undertake the conservation of the heritage site.
Donald Kaberuka, the president of AfDB Group in Kigali, Rwanda said, The AGTF marks an important milestone in the long-standing relationship between China and the African Development Bank Group in particular and Africa in general .
The AGTF will be instantly established, and is likely to be used to co-finance some projects before the end of this year, officials revealed in Kigali previous week.
In the meantime, the AfDB s chief finance officer said the AGTF will enable an additional $200 million in more or larger-sized projects annually throughout Africa, on identical terms and conditions as for loans made by the AfDB itself to the same projects.
The African Development Bank ( AfDB ) and the People s Bank of China ( PBOC ) on Thursday, May 22 entered into a US $2 billion co-financing fund to be known as the Africa Growing Together Fund ( AGTF ).
Donald Kaberuka, President of the African Development Bank Group, commented that "the AGTF marks an important milestone in the long-standing relationship between China and the African Development Bank Group in particular and Africa in general.
To mark the 180th anniversary of the arrival of the indentured labourers on 2nd November 2014, the AGTF
is planning to have a series of national activities such as an international conference on indentured labour and other related themes which will focus on setting up an International Indenture Labour Route project.