"By using this fund to augment existing development programs, we can help selected countries overcome key binding constraints and break into higher growth. These programs can generate positive spillover effects for neighboring countries as well as powerful demonstration effect for all Africa by creating more convincing models for sustained transformation" Africa Region VP, Gobind Nankani, New W Bank Fund to Award Results African Business, May 2006 The ACGF systematically targets high performing and transformation countries, as well as regional integration projects that can demonstrate evidence of a specific constraint to their economic growth. Targeted aid for these countries can help them to solve immediate problems, give them the opportunity to implement critical reforms, and provide them with assistance to break existing barriers, leading to higher sustained rates of growth. The ACGF seeks to associate with other funds to bring together a large infusion of capital in a coherent manner. The ACGF targets its funding to growth opportunities that demonstrate the greatest potential to directly benefit shared growth. The ACGF harnesses the potential that exists for an acceleration of economic growth throughout the continent. Africadoes not just need a higher percentage marker for growth; it needs growth that is sustainable over time and broadly shared.Shared growth is growth that benefits all segments of a society; the poor, those living in more remote rural areas, women and youth, and is not an automatic process, nor is it a process of “trickle down”. Additional Resources: |
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