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African Development Bank provides US $1 million to support Sudan’s preparation for debt relief
31-May-2018 - The African Development Bank’s Director General for the East African Region, Gabriel Negatu, and Sudan’s State Minister of Finance and Economic Planning, Magdi Yassin, presided over the signing ceremony of a US $1-million grant agreement to facilitate Sudan’s access to debt relief and to reintegrate it into the global economy.
African Development Bank and Republic of Korea to strengthen cooperation through Korea-Africa Tech Corps Program
31-May-2018 - The African Development Bank and the Republic of Korea have signed a cooperation agreement to enhance joint efforts to provide additional technical assistance to the Bank’s Regional Member Countries through the Korea-Africa Tech Corp Program.
Supporting Women-owned Businesses and SMEs in Sierra Leone
31-May-2018 - At its 2018 Annual Meetings in Busan, Korea, the African Development Bank signed a 5-year, US $3-million Line of Credit (LoC) with Sierra Leone’s Union Trust Bank (UTB), the only indigenous private bank in Sierra Leone and an important provider of finance for indigenous micro, small and medium-sized enterprises. The LoC will primarily target local SMEs and women-owned businesses working in agriculture, energy, manufacturing and services, among others.
Italy ramps up support for Somalia’s infrastructure, contributes €1 million to Somalia Infrastructure Fund
30-May-2018 - The African Development Bank, on May 28, 2018 in Mogadishu, participated in a signing ceremony that occasioned Italy’s contribution of €1 million to the Somalia Infrastructure Fund (SIF).
African Development Bank to host US $3-million Rockefeller Trust Fund to spur agriculture and youth employment in Africa
30-May-2018 - The African Development Bank Group has established a US $3-million Rockefeller Trust Fund, a joint effort of the Bank and The Rockefeller Foundation to help spur Africa’s transformation.
African Development Bank, Green Climate Fund and Africa 50 support Desert to Power programme
29-May-2018 - The African Development Bank, the Green Climate Fund (GCF) and the Africa50 investment fund signed a letter of intent to collaborate on the Desert to Power programme on the sidelines of the Bank’s Annual Meetings, Busan, Korea. The Desert to Power programme, initiated by the Bank, aims to develop 10,000 MW of solar energy across the Sahel region. It is intended to provide solar generated electricity to 250 million people, including 90 million through off grid solutions, thereby enabling the development of agriculture and other economic...
Akinwumi Adesina of Nigeria elected 8th President of the AfDB
28-May-2018 - “Today, I have been given a great responsibility,” Akinwumi A. Adesina said Thursday upon his election as the 8th President of the African Development Bank Group. The President-Elect said he was “humbled by this remarkable vote of confidence in me” on the part of the Bank’s Board of Governors, who met during the Bank Group’s 50th Annual Meetings in Abidjan, Côte d’Ivoire.
Sharing the Development Experiences of Africa and Asia for Sustainable and Inclusive Growth
25-May-2018 - The Asia External Representation of the African Development Bank(link is external) organized an Africa Day Joint Side Event with the Asian Development Bank Institute, “Sharing the Development Experiences of Africa and Asia for Sustainable and Inclusive Growth”, during the Bank’s 53rd Annual Meetings and the African Development Fund’s 44th Meetings in Busan, Korea.
Guest of the day: Simon Mizrahi, Director of the Bank’s Service Delivery, Performance Management and Results
25-May-2018 - The mandate of the African Development Bank is to work for Africa's development. But what is the tangible impact of its operations in the field and on the daily lives of millions of Africans? A conversation with Simon Mizrahi, Director of the Bank’s Service Delivery, Performance Management and Results. Africa’s development priorities come with many challenges. How do the Sustainable Development Goals connect with the Bank’s High 5s to find solutions to them?
“We solve the problems, you finance us!”: young African entrepreneurs make the call at 2018 Annual Meetings
25-May-2018 - “African youth are not waiting for any reforms to happen. Our moment is now. The African continent offers tremendous business opportunities and we are committed to developing quality products and services,” said Abigail Urey, Edgail CEO and co-owner from Liberia, during the youth-led event on Day 1 of the African Development Bank Annual Meetings in Busan, Korea.
The African Development Bank and the Global Green Growth Institute partner to fast-track Green Growth in Africa
25-May-2018 - The African Development Bank(link is external) and the Global Green Growth Institute(link is external) (GGGI) signed a Memorandum of Understanding (MoU) Friday on the sidelines of the African Development Bank Group’s Annual Meetings in Busan, to promote programs, projects, joint studies and research activities to accelerate green growth options for African countries.
Guest of the Day: Stella Kilonzo, Senior Director of the Africa Investment Forum
25-May-2018 - Through the Africa Investment Forum, the African Development Bank is taking a new approach by offering a multi-stakeholder and multi-disciplinary platform that promotes collaborative leadership for Africa’s social and economic development. Stella Kilonzo, Senior Director of the Forum, talks about the innovative nature of the Forum, the development challenges facing the continent and a strong turnout at the inaugural meeting in November, 2018, in Johannesburg, South Africa. What is the objective of the Africa Investment Forum?
Supporting regional integration in the Lake Chad Basin
25-May-2018 - Two loan agreements totaling €44.51 million were signed on Thursday, May 24 in Busan, Korea, by Alamine Ousmane Mey, Cameroon’s Minister of Economy, Planning and Regional Development, and Ousmane Doré, Director General for the African Development Bank Central Africa Regional Development and Business Delivery Office.
Guest of the Day: Hassatou Diop N'Sele, Acting Vice-President, Finance, and Treasurer, African Development Bank Group
25-May-2018 - In this interview, the Treasurer of the African Development Bank Group, Hassatou Diop N’Sele, confirms the financial soundness of the Bank and its favourable prospects. In 2017, Bank lending reached a record US $7.2 billion. How is the African Development Bank doing financially in 2018?Le Conseil approuve les recommandations du Mécanisme indépendant d’inspection et le plan d’action de la direction relatifs au projet de Moulin Moderne du Mali
25-May-2018 - Le Conseil d’administration du Groupe de la Banque africaine de développement, en sa séance du 26 avril 2018, a approuvé les recommandations du mécanisme indépendant d’inspection (MII) contenues dans le rapport de vérification de la conformité du projet « Diversification des Activités du Moulin Moderne du Mali » (M3).
Hallyu, the Korean pop culture model that could inspire Africa
25-May-2018 - “Culture meets industry – the case of Korea, Hallyu,” a session at the 2018 Annual Meetings of the African Development Bank organized by the host country, Korea, in Busan, took place on Thursday May 24. Hallyu, or Korean culture (music, TV series, cinema, games) has been spreading swiftly since the early 1990s. Could it be a model that inspires Africa? Gin Ho-yon, Korean Tourist Office Director spoke proudly of Hallyu’s international presence. “Thanks to this model, we are present in 87 countries worldwide, especially in Africa.”
Guest of the day: Vincent Nmehielle, Secretary General, African Development Bank Group
25-May-2018 - In the lead-up to the 53rd Annual Meetings of the African Development Bank, Bank Group Secretary General Vincent Nmehielle explains the rationale behind this year’s industrialization theme and promises fruitful deliberations. The 2018 Annual Meetings of the African Development Bank Group open Wednesday May 23, in Busan, Korea. Would you explain the role of the Annual Meetings in the Bank’s governance?
Curtain falls on successful 2018 Annual Meetings of the African Development Bank in Korea
25-May-2018 - The 53rd Annual Meetings of the African Development Bank drew to a close on Friday, May 25 in Busan, Korea, in an atmosphere of marked all-round satisfaction, especially at the decision of the Board of Governors to authorize the opening of consultations with a view to a general increase in the Bank’s capital.