AfDB

The African Development Bank (AfDB) has granted a sum of $45 million to the African Union Commission (AUC) to help establish the Pan African University (PAU).

The Bank in a statement said the grant to the AUC for the PAU is to enhance Africa?s competitiveness and growth through the creation of high quality higher education and research capabilities.

Officials say the PAU?s ambition is to compete with Western universities in attracting brilliant young Africans.

Both the AfDB and the AUC have accordingly, signed an agreement on the grant.

?The Bank?s support to the Pan-African University is a clear demonstration of our commitment to play a key role in Africa?s transformation,? said Mr Aly Abou-Sabaa, a AfDB Vice-President.

?AfDB?s decision to support the Pan African University has breathed new life into the project,? said AU Commissioner for Human Resources, Science and Technology, Martial De-Paul Ikounga.

The Pan African University covers key development areas such as technology, engineering, humanities among others through regional institutes and centers hosted by a selected existing universities on the continent.

Ghana?s Kwame Nkrumah University of Science and Technology (KNUST) is part of the PAU.

By Ekow Quandzie/ghanabusinessnews.com

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