The Board of Directors of the African Development Bank (AfDB) has approved a $100 million investment in industrial platform developer and operator Arise Integrated Industrial Platforms Ltd (Arise IIP). This agreement will contribute to the financing of industrial parks and special economic zones across Africa

ARISE IIP seeks to replicate its successful experience of implementing industrial platforms in Gabon, Togo and Benin by establishing special economic zones in other African countries in order to improve the competitiveness of African exports. The industrial platforms developed and operated by Arise IIP are mainly aimed at supporting the transformation of the main agricultural and industrial value chains of African countries, which are the world's main suppliers of raw materials, but have limited local processing capacities. These platforms will provide agro-industrial tenants with developed industrial land, shared infrastructure and public services, good export connectivity and simplified administrative procedures, thus allowing them to relocate their global supply chains and create added value within African countries, while contributing to the reduction of the carbon footprint of trade flows.

According to Dr. Beth Dunford, Vice President of the African Development Bank for Agriculture, Human and Social Development, “African agricultural products such as wood, cashew nuts, cashew nuts, cocoa and cotton can add economic and social value when processed locally rather than exported in their raw state. Through programs such as the African Development Bank's Special Agro-Industrial Zones and investments in partner companies in these areas such as Arise IIP, we are promoting transformative agro-industrialization, driven by the private sector, that stimulates the local processing of commodities, creates jobs and develops rural economies