AfDB approves natural resources development plan

The board of directors of the African Development Bank (AfDB) has approved the six-year Strategy of the African Natural Resource Centre (ANRC) to increase economic deliverables from resources exploitation by building institutional capacity.

The Strategy is intended to operationalize the centre by spelling out its strategic approach to assisting governments in their management of the opportunities and challenges of natural resources management (NRM).

The centre’s core business would be to provide support to resource management centre in natural resources policy design and policy dialogue.

In order to build capacity to deliver programme, the centre would partner with other institutions to jointly deliver support programme using the centre’s knowledge and advocacy tools.

According to a press statement, internally, the centre would leverage the bank’s brand, regional outreach and experience in delivering projects to deepen internal expertise on renewables policy matters while expanding knowledge on non-renewables.

Externally, the centre will assist RMCs and RECs to increase economic deliverables from resources exploitation by building institutional capacity, providing policy advice, offering strategic guidance on investment choices and delivering technical assistance on regulatory matters.

Desired outcomes were contribution towards transition to green growth through better governance of natural resources, enhanced economic impact on domestic economies and improved resources development planning.

ANRC proposed two pillars, namely, integrated natural resource development planning to protect the environment through sustainable development and good governance of natural resources to support negotiations, local content and transparency through public participation.

The strategy proposes an innovative governance and funding models, which combine different expertise across the bank and among stakeholders, as well as blend different sources of finance.

In respect of the value chain, the focus of the centre’s work will be on upstream natural resources management.

This meant that the centre’s programme would focus on the raw material stage that included project development but excluded processing and post processing stages.

From a governance perspective this embodied provision of advice on policies, laws and institutional frameworks that regulate projects at the raw material stage including policies that tackle challenges relating to promoting vertical and horizontal linkages.