The African Development Bank (ADB) has given a 2.5 million-US dollar-grant to the New Partnership for Africa's Development (NEPAD) for its infrastructure development, according to a local press report on Wednesday.

The funds will be used to finance 64 percent of the Multi- national Long-term Strategic Framework Study which is aimed at promoting private sector participation in financing infrastructure projects and meeting economic and social aspirations of NEPAD.

"The study will establish a common vision among all stakeholders on NEPAD's infrastructure program for the medium and long-term (2015-2020). It will also propose measures to accelerate implementation of projects," ADB spokesman Eric Chinje was quoted as saying.

The study will also define criteria to be used in the selection of projects under NEPAD's infrastructure program and set up a monitoring framework.

The study will be carried out in two parts. The first part will be implemented in six months while the second one will be done in eight months.

The estimated costs of the study is 3.9 million dollars. The Nigeria Technical Cooperation Fund will finance the remaining 36 percent.

Source: Xinhua