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Fitch affirms African Development Bank’s Triple 'A' rating with Stable Outlook
09-Aug-2017 - Leading global rating agency Fitch Ratings has affirmed the African Development Bank’s (AfDB) Long-Term Issuer Default Rating (IDR) at 'AAA' with a Stable Outlook and its Short-Term IDR at 'F1+' (best quality grade, indicating exceptionally strong capacity to meet its financial commitments). In a statement released on 4 August, the agency said the 'AAA' rating primarily reflects extraordinary support from AfDB’s shareholders which provides a three-notch uplift over the Bank’s intrinsic rating.
High hopes for cocoa farmers in Africa, as AfDB plans big for producing countries
08-Aug-2017 - Cocoa production in Africa is set to take a turn for the better, as the African Development Bank (AfDB) begin plans to support producers of the crop on the continent. Among other planned interventions, the Bank is considering support to Ghana and Côte d’Ivoire to reduce the volatility of the international prices of cocoa. Côte d’Ivoire leads the world in the production and export of cocoa. Ghana and Côte d’Ivoire are now at the final stages of discussions for AfDB support. A final deal is expected to be announced in the days to come.Fitch affirms African Development Bank at 'AAA'; Outlook Stable
04-Aug-2017 - Fitch Ratings has affirmed the African Development Bank's (AfDB) Long-Term Issuer Default Rating (IDR) at 'AAA' with a Stable Outlook and Short- Term IDR at 'F1+'. A full list of rating actions is at the end of this rating action commentary. Key Rating Drivers The 'AAA' rating primarily reflects extraordinary support from AfDB's shareholders, assessed by Fitch at 'aaa', which provides a three-notch uplift over the bank's intrinsic rating.
Ghana targets 5 million passengers yearly with AfDB-funded international airport expansion project
04-Aug-2017 - The construction of a new terminal at Ghana’s flagship airport – Kotoka International Airport – is expected to make the country a destination of choice with a yearly target of 5 million passengers. The project, funded by the African Development Bank (AfDB) with a $120-million facility, will improve air transport in the country. It is also expected to contribute towards boosting the country’s economy, reduce the cost of doing business, and improve competitiveness.
AfDB and African Ambassadors host 2nd Japan-Africa Business Forum in Tokyo
04-Aug-2017 - The 2nd Japan-Africa Business Forum was held in Tokyo on 25-26 July 2017 on the theme ‘Investment and Business Opportunities with Africa’. The Forum was organized by the Bank’s Asia External Representation Office and African Diplomatic Corps (ADC) in Tokyo, in collaboration with Japan International Cooperation Agency (JICA), Japan External Trade Organization (JETRO) and United Nations Industrial Development Organization (UNIDO).
Nigeria Technical Cooperation Fund celebrates first ten-year life cycle (2004 - 2014)
02-Aug-2017 - The Directorate of Technical Cooperation in Africa (DTCA) of Nigeria’s Ministry of Foreign Affairs and the African Development Bank (AfDB) celebrated the completion of the first life cycle of the Nigeria Technical Co-operation Fund (NTCF) in a ceremony in Abuja on 1 August 2017.
Transformation of cocoa production, rural economy, energy in focus, as Adesina visits Ghana
02-Aug-2017 - The President of the African Development Bank (AfDB), Akinwumi Adesina, is championing the transformation of the rural economies of African countries as the fastest way to lift millions of people out of poverty. The President, who is on a three-day visit to Ghana, August 1-4, spoke at a welcome dinner hosted by Ghana’s Minister of Finance. The dinner was attended by the Vice-President of Ghana, Mahamudu Bawumia, Governor of the Central Bank of Ghana, and key government functionaries.
AfDB signs US$ 78 million grant agreements with Governments of Somalia and South Sudan to strengthen drought resilience and address chronic hunger and malnutrition
01-Aug-2017 - Somalia grant of US$ 34.8 million set to benefit 804,000 individuals South Sudan grant of US$ 43.8 million set to benefit 300,000 individuals Pastoralists and agro-pastoralist households among the target beneficiaries; Women, children, elderly and disabled to be prioritizedImproving Accountability of Development Projects in West Africa - Joint CAO-IFC / BCRM-AfDB Regional Workshops in Abidjan
01-Aug-2017 - The Compliance Review and Mediation Unit (BCRM) of the African Development Bank Group (AfDB); the Office of the Compliance Advisor Ombudsman (CAO) of the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency MIGA) of the World Bank Group are organizing two regional workshops at the headquarters of the AfDB in Abidjan from 1 to 3 August 2017.AfDB to invest US$24 billion in agriculture in next 10 years
28-Jul-2017 - The African Development Bank (AfDB) will invest US $24 billion dollars in agriculture as part of its Feed Africaprogramme- a strategy for agricultural development in Africa. President of the Bank, Akinwumi Adesina, said this in a speech he delivered at the 50th anniversary celebration of the International Institute for Tropical Agriculture (IITA) in Ibadan, Nigeria,NEPAD Infrastructure Project Preparation Facility proposes regional information hub to stimulate investment in Africa
24-Jul-2017 - The NEPAD Infrastructure Project Preparation Facility (NEPAD-IPPF) has advocated the establishment of a regional information hub to advertise bankable projects in Africa. NEPAD-IPPF proposes that each country should have a window linked to the centralized hub as part of an overall objective to unlock bankable investment opportunities in Africa.
President of Malagasy Republic visits AfDB headquarters
24-Jul-2017 - The President of the Republic of Madagascar, Hery Rajaonarimampianina, paid a courtesy call on the President of the African Development Bank (AfDB), Akinwumi Adesina on Saturday 22 July 2017 at the Bank’s headquarters in Abidjan, Côte d’Ivoire. The Head of the Malagasy State, who was in the Ivorian capital city to attend the opening ceremony of the 8th Francophone Games, signed the guest book and expressed his appreciation for the warm welcome accorded him. He related this to the good relationships between Madagascar and the African...ALSF Management Board welcomes its two newest members, Bruce Montador and Rafique Mahomed
20-Jul-2017 - After bidding a fond farewell to its outgoing members, the African Legal Support Facility (ALSF) warmly welcomed two new additions to its Management Board – Rafique Mahomed and Bruce Montador – during a Board meeting held on Thursday, 13 July.
ADEA applauds Ghana’s and Seychelles’ strong Higher Education Management Information System
19-Jul-2017 - The Association for the Development of Education in Africa (ADEA) congratulated Ghana and Seychelles for having well-developed management information systems for their higher education institutions.Tanzania wins US$21.7 million from Climate Investment Funds to advance geothermal exploration and transform its energy sector
19-Jul-2017 - The Climate Investment Funds (CIF) has approved US $21.7 million for the United Republic of Tanzania to finance its Geothermal Energy Development Project. The project serves as a significant step in advancing the country’s plans to transform its national economy bolstered by an affordable and baseload sustainable energy technology. It will develop the Ngozi geothermal steam field in southwestern Tanzania and ultimately showcase the technology’s broader potential in the country’s energy transformation.La BAD dégage 28,9 milliards de francs CFA en soutien à la gouvernance économique et à la croissance en Côte d’Ivoire
18-Jul-2017 - Le Conseil d’administration de la Banque africaine de développement (BAD) a approuvé un prêt du Fonds africain de développement (FAD) de 36,232 millions d’Unités de compte (UC), soit 28,9 milliards de Francs CFA en faveur de la Côte d’Ivoire afin de permettre au pays de financer son Programme d’appui à la gouvernance économique et à la croissance (PAGEC).
Cameroon: AfDB President lays foundation stone of Lom Pangar Dam power plant
18-Jul-2017 - On Sunday 17 July 2017, The President of the African Development Bank Group (AfDB), Akinwumi Adesina, laid the foundation stone of the Lom Pangar Dam power plant in the département of Lom-et-Djerem in eastern Cameroon.African Parliamentarians’ Network on Development Evaluation Gains Momentum
17-Jul-2017 - The 3rd Annual General Meeting (AGM) of the African Parliamentarians’ Network on Development Evaluation (APNODE), held in Khartoum, Sudan, from July 15th to 17th, attracted 47 participants from 17 countries. Among these were three Speakers of Parliament (from Sudan, Ethiopia and Uganda), emphasizing the support that the network enjoys at the highest levels. Development partners including UN Women, the Centre for Learning on Evaluation and Results for Anglophone Africa (CLEAR-AA), and Independent Development Evaluation of the AfDB also...