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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.
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
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.
African Development Bank Group to launch 2024 African Economic Outlook
16-May-2024 - What: Launch of 2024 African Economic Outlook report Who: African Development Bank President Akinwumi Adesina; African finance ministers and central bank governors; and international development partners When: Thursday, 30 May 2024; 9:00-10:00 AM Eastern African Time (GMT +3) Where: Tsavo Hall, Kenyatta International Convention Centre, Nairobi and online. Register here
African Development Bank launches inaugural EUR 500 million 2.875% short 4-year Green Benchmark due March 2028
16-May-2024 - On Wednesday 15 May 2024, the African Development Bank (“AfDB”), rated Aaa/AAA/AAA (Moody’s/S&P/Fitch) successfully launched and priced an inaugural EUR 500 million short 4-year Green Benchmark, the second green bond issued under the Bank’s new Sustainable Bond Framework, established in September 2023. The bond due March 2028 pays a coupon of 2.875% with a re-offer yield of 2.947%.
Niger’s Civil society wants more involvement in dialogue on African Development Bank initiatives
16-May-2024 - Niger's civil society has informed Marie-Laure Akin-Olugbade, the Vice-President for the Regional Development, Integration and Business Delivery Complex at the African Development Bank Group, of its wish to be more involved in discussions relating to the Bank's operations in the country.
African Development Bank to Host Virtual Webinar to Help CSOs Access Africa Climate Change Fund
15-May-2024 - What? Training workshop to provide information and training to civil society organisations on the Africa Climate Change Fund’s procedures and the funding application process Who? African Development Bank Group When? Friday 17 May 2024, from 9 to 10 am GMT Where? Online. To register for the webinar, click here
Annual Meetings 2024: old debt resolution for African countries – the cornerstone of reforming the global financial architecture
15-May-2024 - When African Development Bank Group member states meet from 27 to 31 May in Nairobi, Kenya for the 2024 Annual Meetings, the question of African debt will be one of the key discussion points. The event’s theme is: “Africa’s Transformation, the African Development Bank Group and the Reform of the Global Financial Architecture”.
African Development Bank commits $2 billion as it leads the way at landmark summit for access to clean cooking in Africa
15-May-2024 - The African Development Bank Group pledged $2 billion over 10 years towards clean cooking solutions in Africa—a major step along the road to saving the lives of 600,000 mainly women and children each year. Speaking at a landmark summit on Clean Cooking in Africa held yesterday in Paris, the Bank Group’s President Dr Akinwumi Adesina, said the institution would now commit 20 per cent of all its financing of energy projects towards promoting safe alternatives to cooking with charcoal, wood and biomass.
Malawi: African Development Fund commits $22.7 million grant to bolster agricultural productivity and climate resilience
15-May-2024 - The Board of Directors of the African Development Fund on 15 May 2024 approved a $22.7 million budget support grant for Malawi to implement a national program to reform the agricultural sector and strengthen resilience to climate change. The Agricultural Productivity and Marketing Program is designed to catalyze economic growth and ensure food security within Malawi. It also entails the optimization of efficiency, transparency, and accountability in agricultural sector spending, alongside reinforcing disaster preparedness and climate...
Zimbabwe: African Development Bank’s $15 million Trade Finance Package for First Capital Bank to support SMEs and local enterprises
15-May-2024 - The Board of Directors of the African Development Bank Group has approved a $15 million trade finance package for First Capital Bank (FCB) in Zimbabwe to help bolster intra-African commerce in line with the goals of the Africa Continental Free Trade Area. The package, comprising a $7.5 million trade finance line of credit and a $7.5 million transaction guarantee, is expected to catalyse about $146 million in trade over the next three years.
African Development Bank and InterAmerican Development Bank Welcome International Monetary Fund’s (IMF) Executive Board’s Decision Approving Use of SDRs for Hybrid Capital Instruments
15-May-2024 - The African Development Bank Group (AfDB) and the Inter-American Development Bank (IDB) today welcomed the announcement by the International Monetary Fund’s Executive Board approving hybrid capital as an eligible instrument for channeling of Special Drawing Rights (SDRs).
President William Ruto Advocates for $25 Billion Replenishment of African Development Fund, Highlights Impact on Kenya’s Development
12-May-2024 - Kenya’s President William Ruto has intensified his campaign for a substantial replenishment of the African Development Fund, underscoring the transformative impact of the Fund-backed projects in the country. The Fund is the concessional window of the African Development Bank Group.
African Development Bank proposes Annual Africa Media Prize to promote more balanced reporting of continent and its achievements
10-May-2024 - Dr Akinwumi Adesina, the president of the African Development Bank Group, announced the creation of an Annual Africa Media Prize to recognise and profile African journalists, correspondents and media houses that showcase Africa’s achievements and progress.