Nineteen University-based African Centers of Excellence (ACE) to recieve grant from world bank.
30 Apr 2014 Nineteen university-based African Centers of Excellence (ACE) across seven countries in West and Central Africa will receive a combined grant of $150 million from the World Bank, to enable them provide training and higher education in science, technology, engineering and mathematics (STEM), as well as agriculture and healthcare. The countries are Nigeria, Ghana, Senegal, Benin, Burkina Faso, Gambia, Togo and Cameroon.
Ventures Africa tells us that the grant will be provided through World Bank’s International Development Association’s credit. The association provides loans and grants for projects and programs that boost economic growth, reduce poverty, and improve poor people’s lives.
Nigeria received the highest grant of $70 million, Ghana, Senegal and Gambia received $24m, $16m and $3m respectively while Benin, Burkina Faso, Cameroon, and Togo got $8 million each.
World Bank Education Manager for West & Central Africa, Peter Materu noted that students in West and Central Africa need high-quality science and technology programs to compete in their own regional job market as well as the global economy.
He is quoted as saying “The African Centers of Excellence (ACE) project is a win-win initiative (that) will help young people achieve their aspirations without leaving Africa, and it will help firms to find advanced skills and knowledge domestically and to compete more effectively in international markets