Press Releases
Displaying 1 - 20 of 5656
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 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.
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.
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.
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.
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.
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 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%.
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).
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...
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.
African Development Bank Group President Calls for Media Transformation to Uplift Africa’s Global Narrative
10-May-2024 - The President of the African Development Bank Group, Dr Akinwumi Adesina, delivered an impassioned plea for more balanced media coverage of Africa and its development, noting it was critical for changing false narratives. Adesina said this on Thursday in a keynote speech to the All Africa’s Media summit in Nairobi, attended by nearly 300 participants from across the continent. He praised the crucial role the media plays in strengthening democracy and advancing inclusivity.
Central African Republic: African Development Bank and civil society commit to inclusive, sustainable development
10-May-2024 - The African Development Bank Group and civil society in the Central African Republic have committed to working together for inclusive sustainable development in the country. This crucial collaboration will help guarantee a full alignment of the Bank’s interventions with the needs and priorities of CAR’s population. The commitment arose from the consultation meeting organized in Bangui on 30 April.
Paris Summit Aims to Secure Commitments Toward $4B Needed to Close Clean Cooking Funding Gap for African Women
10-May-2024 - Development partners gathering in Paris on 14 May are expected to pledge towards the $4 billion needed to provide clean cooking access for 250 million African women by 2030. African Development Bank Group President Dr Akinwumi Adesina will co-chair the Clean Cooking Summit, to be held in Paris, alongside President Samia Suluhu Hassan of Tanzania, Prime Minister Jonas Gahr Støre of Norway, and International Energy Agency Executive Director Fatih Birol.