The African Development Bank (AfDB) has approved a grant of US$45 million to support the creation of a Pan African University (PAU) which will consist of five Pan African institutes.According to the statement from the Bank, the focus of the institutes varies across the five regions. In East Africa the PAU will focus on basic sciences, technology and innovation, while in Southern Africa, it will work on space sciences.West Africa will get earth and life sciences, including health and agriculture, while Central Africa will focus on governance, humanities and social sciences.In North Africa, research will look to water and energy sciences.Agnes Soucat, AfDB director of human development, said the initiative will raise Africa’s standard of university education, develop the science and technology sectors and commercialise innovations."Thousands of students all over Africa will benefit from this project,” said Soucat."This is truly an amazing regional effort to help African universities achieve world-class status. It will increase the pool of African scientists and researchers not only to serve the needs of the continent, but to help youth become competitive in international labour markets.”While the best African university is ranked at position 113 globally, the new university would be an initiative in strengthening higher education and building of human capital in AfricaOf the 400 top universities worldwide, only four are in Africa, all of which are found in South Africa.The university will aid in capacity building, value addition of the continents natural resources and enhance competitiveness and youth employment.The bank has always financed the east African region in different areas especially the infrastructure and energy.