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A Project in History: The Transformational Journey of the African Development Bank
23-May-2024 - When the African Development Bank was established in 1964, its founders committed to the task of leveraging Africa’s natural and human resources to catalyze development across the continent. Despite skepticism labeling their ambitions as “suicidal,” the founders remain resolute. Through perseverance and determination, African countries forged ahead to establish their own transnational institution for development finance. Now, six decades later, what once seemed an unattainable dream stands as a remarkable reality.
The African Development Bank's Desert to Power Initiative
23-May-2024 - The African Development Bank is the driving force behind one of the world's most ambitious energy projects: the Desert to Power initiative aims to bring energy to one of the least developed and most marginal parts of the continent. This transformative and bold effort aims to turn Africa’s vast, sun-drenched Sahel region – one of the most vulnerable regions in the world - into a powerhouse of solar energy, targeting 11 countries: Burkina Faso, Chad, Djibouti, Eritrea, Ethiopia, Mali, Mauritania, Niger, Nigeria, Senegal, and Sudan.
Mauritius: the African Development Bank grants $240 million loan to support economic diversification and competitiveness
23-May-2024 - The Board of Directors of the African Development Bank Group approved a loan of $240 million to Mauritius in Abidjan on 22 May 2024 to implement the second phase of the Economic Competitiveness and Resilience Support Program.
2024 Korea-Africa Summit
22-May-2024 - What: 2024 Korea-Africa Summit Who: Delegations from African countries and related international organizations, key figures from Korean and international communities, including heads of state, heads of organizations, and President of the African Development Bank Group When: 4-5 June 2024 Where: KINTEX (Ilsan) and Seoul, Republic of Korea
African Development Bank issues Borrower Guidance Notes for Integrated Safeguards System
22-May-2024 - The African Development Bank Group has developed Environmental and Social Guidance Notes (ISS Guidance Notes) for borrowers and clients, following approval of an Integrated Safeguards System (ISS) by its Board of Directors on 12 April 2023 and subsequent public consultations. These tools offer detailed, technical guidance to help borrowers and clients (public and private) meet ISS requirements throughout the lifecycles of their Bank-supported projects.
Rwanda: Significant results midway through the implementation of the African Development Bank country strategy 2022-26
22-May-2024 - The Board of Directors of the African Development Bank Group approved the mid-term review of the Country Strategy Paper (CSP) 2022-26 for Rwanda in Abidjan on 21 May 2024. The progress during the first half of the implementation period has been significant.
Ethiopia: African Development Fund approves nearly $43 million to boost access to finance and non-financial services for Ethiopian Youth and Women-led MSMEs
22-May-2024 - The Board of Directors of the African Development Fund – the African Development Bank Group’s concessional financing window – approved a grant of $42.86 million to Ethiopia on 22 May 2024 to fund the implementation of the Agri-MSMEs development for jobs Program. Aimed at boosting the growth and productivity of youth and women-led MSMEs in Ethiopia, the program focuses on improving access to finance, providing business development services, and strengthening the entrepreneurship enabling environment.
Ethiopia: African Development Bank’s Sustainable Energy Fund for Africa to extend $8 million for groundbreaking mini-grid pilot programme
22-May-2024 - The African Development Bank Group’s Board of Directors has approved $8 million to support the rollout of a pioneering pilot mini-grid programme with potential Africa-wide benefits. The funding, provided by the Bank-managed Sustainable Energy Fund for Africa (SEFA)
African Development Bank reaffirms support for Sudan amid civil conflict
22-May-2024 - The African Development Bank has reassured Sudan of its continued support in providing humanitarian and economic assistance, while addressing other priority needs amid the country’s ongoing civil conflict. Rufus N. Darkortey, the Bank’s Executive Director representing The Gambia, Ghana, Liberia, Sierra Leone, and Sudan, reaffirmed this commitment during discussions with Sudan’s Finance Minister and Governor of the African Development Bank, Dr Gebreil Ibrahim Mohamed Fediel.
African Development Bank at the 10th World Water Forum: showcasing commitment to facilitating access to water and sanitation resources in Africa
22-May-2024 - The African Development Bank Group will highlight the importance of preparation, financing and coordination for water, sanitation and hygiene initiatives across Africa at the 10th World Water Forum in Bali, Indonesia. The Bank and the African Water Facility’s delegations to the world’s largest international gathering of water sector partners will share insights, strategies and stories of sustainable development successes from the continent.
African Development Bank invests $1.44 billion to support infrastructure development in Nigeria
22-May-2024 - The African Development Bank has invested $1.44 billion to support the development of energy and power, transport, water, and sanitation infrastructure in Nigeria. The Bank’s Nigeria Country Department, Director General Lamin Barrow disclosed this at the Nasarawa Investment Summit 2024, held from 15 – 16 May in Lafia, the Nasarawa State capital. The event was attended by local and foreign investors, representatives of the private sector, and senior government officials.
Virtual Capacity Development Academy (VCDA) Learning Edge Insights webinar
21-May-2024 - What: Virtual Capacity Development Academy (VCDA) Learning Edge Insights webinar: “Digital Catalysts in Africa: Learning Platforms as Engines for Capacity Development and Knowledge Exchange” Who: The African Development Institute of the African Development Bank Group When: 23 May 2024 @ 14:00 – 15:30 GMT Where: Virtual
Strengthening Global Nutrition Advocacy: Insights from African Leaders for Nutrition at the London Meeting
21-May-2024 - African Leaders for Nutrition (ALN) Coordinator George Ouma demonstrated the organization's unwavering commitment to influencing policy and driving positive nutrition outcomes across the continent during the recent three-day Nutrition Face-to-Face Meeting. The event, organised by the Bill and Melinda Gates Foundation in London, brought together nutrition actors to engage in a priority-setting process aimed at increasing collective impact on nutrition policy and financing and defining the vision for 2030.
Pledges for a stronger Africa Fertilizer Financing Mechanism to increase food production in Africa
21-May-2024 - African heads of state have committed to supporting the full operationalization of the Africa Fertilizer Financing Mechanism, a step that will empower it to invest in yield-boosting technologies and soil health initiatives, finance infrastructure and logistics to enhance fertilizer availability and market access for Africa’s farmers.
African Development Bank’s Adesina highlights Africa as the world’s best investment destination at BADEA’s 50th anniversary
20-May-2024 - Africa’s human, land, mineral resource and cross-border trade endowments combine to make it the world’s most promising investment destination, now and well into the future, African Development Bank Group President Dr Akinwumi Adesina said.
African Development Bank Group and African Water Facility to co-host session on innovative financing for water and sanitation at World Water Forum in Bali
19-May-2024 - What: Seminar on Innovative Financing and Resource Mobilization for Climate-resilient Water and Sanitation Investments Who: African Development Bank Group, African Water Facility, Republic of Namibia When: Wednesday, 22 May 2024 | 10:20 AM – 11:50 AM Indonesia Central Time (GMT+8) Where: 10th World Water Forum at Bali, Indonesia, BNDCC 2, Ground Floor, rooms Mengwi 7 – 8
Congo: New data centre funded by African Development Bank will cement national and subregional digital sovereignty
17-May-2024 - Jolting hammer blows, the sounds of iron bars under a workman’s blowtorch, the odor of fresh cement: at the foot of the three-storey building rising in the Bacongo district of the Congolese capital, a sign tells visitors that a “National Data Centre Construction Project in Brazzaville” is happening here.
Benin: a government and African Development Bank project launched to boost the fisheries and aquaculture sector
17-May-2024 - Benin and the African Development Bank officially launched the Project to Promote Sustainable Aquaculture and the Competitiveness of Fisheries Value Chains in Cotonou on 15 May 2024, to increase the contribution of fisheries and aquaculture sector to food security and local economies.
Congo lauds partnership with African Development Bank, seeks enhanced climate funding
17-May-2024 - The Congolese government has lauded the African Development Bank Group for its vital support to the nation’s development, particularly in infrastructure, where the Bank stands as the country’s key partner. Government representatives gave the commendation during a three-day visit by the African Development Bank Group’s Vice-President for Regional Development, Integration and Business Delivery, Marie-Laure Akin-Olugbade, during which she engaged with several ministers on political dialogue and support for the Bank’s operations.