The African Economic Research Consortium (AERC) and the African Development Bank Group (ADB) have today signed a grant of UA5 million (US$ 7 million) to finance AERC’s knowledge generation and capacity building activities.
The Research Capacity and Knowledge Enhancement for Africa’s Transformation, is aimed at enhancing knowledge and research capacity in the AfDB-eligible countries and Regional Institutions, with a view to fostering structural transformation. The project is also expected to enhance communication and dissemination of knowledge, and to strengthen the capacity of academic institutions in terms of staff skills and equipment. It is envisioned to result in well-trained Mater’s and PhD graduates as well as quality research. AERC is uniquely fit to deliver on the project as a result of its enduring capacity building and knowledge framework. The organization has been a remarkable African success story.
“This sizable grant is a momentous achievement and it helps solidify sustainability of AERC in its delivery of programs spanning policy-oriented research, collaborative graduate training, and policy outreach, while building capacity of individuals and institutions. It is exciting that AfDB is stepping in a big way in the wake of the recently established AERC African Central Banks Governors’ Forum; together, we have come a long way in enhancing African stakeholder-ship of AERC and greater voice in its governance. Hence, today is another proud moment for Africa. Moreover, this is clearly going to have an affirmative weight on our longstanding global partners at this crucial moment of the AERC strategy 2015-2020, in AERC’s path to move to the next level of excellence in the service of Africa”,” said Prof. Lemma W. Senbet, AERC Executive Director during the signing of the agreement.
“The bank’s Human Capital Strategy for Africa 2014 – 2018 has the vision of harnessing the potential of one billion Africans by building skills and promoting technologies for better jobs, equal opportunities and workforce competitiveness. A regional institution like AERC will provide a great platform for students in the region to be well trained, and for researchers to conduct quality research in key areas that will drive Africa’s transformation. This partnership will achieve great impact in a cost-effective and cost-sharing manner than AfDB alone could,” Said Mr. Gabriel Negatu, AfDB Regional Director for the East Africa Resource Centre (EARC).
The direct beneficiaries of this remarkable AERC-AfDB partnership are African graduate students, researchers, educators, universities, policymakers, policy institutions, non-state actors, such as the private sector and civil society. Indeed, the project is expected to provide great opportunity for African students to be trained in conformity to global best practices for researchers to be capacitated to conduct quality research that informs policy based on rigor and evidence toward Africa’s transformation. It is also expected to strengthen institutional capacity to deliver quality training and research in a sustained and active network of African universities, while providing policymakers with enhanced knowledge as an input to improved policymaking.