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With a strong financial profile, the African Development Bank is spearheading Africa’s economic transformation
24-May-2018 - The African Development Bank has a very strong financial profile and remains focused on optimizing and strengthening its balance sheet to more effectively accompany African countries in achieving the Sustainable Development Goals. Prudent financial management and policies are the backbone of the Bank’s AAA rating.
African Ministers discuss innovative financing mechanisms to respond to climate change
24-May-2018 - Ministers of Finance, Agriculture and Governors of Central Banks from African countries have called for further innovative financing mechanisms to deal with the impact of climate change, which has led to economic losses from cycles, conflict, insecurity and cross-border political instability in the Sahel region.
Climate and disaster risk financing get fresh boost from African Development Bank
24-May-2018 - The President of African Development Bank, Akinwumi A. Adesina, and the Bank’s Board of Governors held a high-level session on “Climate and Disaster Risk Financing” focusing on the Role of the African Risk Capacity (ARC) and the Africa Disaster Risk Financing Program (ADRiFi) on Wednesday in Busan, Korea.Integrity in Development Projects: African Development Bank and Sinohydro Reach Settlement Agreement on Fraudulent Practice
24-May-2018 - The African Development Bank Group (AfDB) on June 15th, 2017, announced the conclusion of a settlement agreement with Sinohydro Corporation.
FAPA Donors and AFAP sign grant agreement in support of local supply and utilization of fertilizer in Africa
24-May-2018 - On the sidelines of the African Development Bank Annual Meetings in Busan, Korea, the Fund for African Private Sector Assistance (FAPA)(link is external) donors and the African Fertilizer and Agribusiness Partnership (AFAP) have signed a grant agreement in support of local supply and utilization of fertilizer by smallholder farmers in Africa.
Babacar Ndiaye Trophy presented in Busan by Akinwumi Adesina, President of the African Development Bank
24-May-2018 - The Babacar Ndiaye Trophy for 2018 was presented on Wednesday evening in Busan, Korea, by the President of the African Development Bank, Akinwumi Adesina, to the representative of the Kenyan Head of State, Uhuru Kenyatta, who was distinguished for “his personal leadership and for the transformation of his country’s road network.”
53rd Annual Meetings of the African Development Bank: Board of Governors reviews the Bank’s performance
24-May-2018 - The Board of Governors of the African Development Bank (AfDB) met on Thursday, May 24 in Busan, Korea, for the second time during the 53rd Annual Meetings to review the state of the Bank’s operations and its prospects for the coming years. Introducing this session entitled “Governors' Dialogue,” the Bank President, Akinwumi Adesina, shared operational results and urged Governors not to hesitate to offer their views or suggest advice.
African Development Bank achieves historic disbursement of US $7.81 billion, exceeding 2017 target
24-May-2018 - The African Development Bank, under the leadership of its President, Akinwumi Adesina, has increased disbursements to support the structural transformation of countries in Africa, according to its Annual Report, released during the Annual Meetings in Busan, Korea.
Regional cooperation, structural reforms key to economic transformation
23-May-2018 - Africa’s development agenda must focus on the socio-cultural and commercial interests of Africans and the upliftment of Africa’s trade and economic ecosystem, said Muhammadu Sanusi II, the Emir of Kano and a former Governor of Nigeria’s Central Bank, during his address at the 2018 Annual Meetings of the African Development Bank Group in Busan, Korea.
The African Development Bank and the African Institute for Mathematical Sciences to explore partnerships for scaling up investments in Science, Technology, Engineering and Mathematics
23-May-2018 - The African Development Bank signed a Letter of Intent with the African Institute for Mathematical Sciences aimed at finding opportunities for potential partnership between the two institutions. The organizations will specifically explore ways of strengthening education and research in the mathematical sciences across Africa.
Accelerating Africa’s industrialization
23-May-2018 - Every year since 1964, the African Development Bank Group brings together development experts and Africa’s Central Bank Governors, Finance and Economic Planning Ministers to discuss the continent’s economic fortunes. Busan, Korea’s second-largest city and industrial hub, is host to the Bank’s 53rd Annual Meetings this week attended by finance and development experts, business leaders and Finance Ministers from Africa and beyond.African Legal Support Facility Governing Council and Management Board meets in Busan
23-May-2018 - The African Legal Support Facility (ALSF) held its 25th Management Board and 9th Governing Council meetings on 20 and 21 May 2018 respectively, on the margins of the 2018 African Development Bank Annual Meetings in Busan, Korea. The members reviewed the 2017 activities of the ALSF and discussed the future plans for the institution.
Zimbabwe Water and Sanitation Project : Relief for Chitungwiza Residents
23-May-2018 - “For every drop of water you waste, you must know that somewhere on earth, someone is desperately looking for a drop of water!” Novelist and thinker Mehmet Murat Ildan’s warning could be referring to the likes of 39-year-old Mercy Chimusoro of Zengeza 3 Extension D, Chitungwiza and her family. Chimusoro and her family only experienced reliable water supply in the first two years after they moved to their new home in 2001. The next 14 years were marked by serious water shortages; Sometimes the taps remained completely dry for an entire month.
African Development Bank and Korea launch the Korea-Africa Energy Investment Facility
23-May-2018 - The Government of Korea and the African Development Bank have signed a Letter of Intent to launch the Korea-Africa Energy Investment Facility (KEIF) to provide significant support to the New Deal on Energy for Africa, which aims to achieve universal access to energy.
Korea announces $5-billion financial package for Africa at African Development Bank Annual Meetings
23-May-2018 - The Government of Korea and the African Development Bank have issued a Joint Declaration following the conclusion of the Ministerial Roundtable of the Korea-Africa Economic Cooperation (KOAFEC) Conference taking place during the African Development Bank’s 53rd Annual Meetings in which Korea announced a $5-billion bilateral financial assistance package for Africa.
Accelerating Africa’s efforts to fight climate change
22-May-2018 - On Friday, May 25, 2018, the African Development Bank will host an open dialogue at the Bank’s Annual Meetings in Busan, Korea on the need to establish an African Financial Alliance for Climate Change (AFAC). Key representatives of financial institutions operating in Africa will exchange views on modalities to support and accelerate Africa’s efforts to fight climate change by mobilizing Africa’s domestic private resources to support the implementation of Africa’s Nationally Determined Contrib
South Korea’s rapid development is an inspiration to Africa, says African Development Bank President
22-May-2018 - The rapid economic development in Korea is an inspiration and a model to African economies, said African Development Bank President, Akinwumi Adesina. He made the remarks while speaking at the welcome reception of the 53rd Annual Meetings of the African Development Bank(link is external), which opened Monday in Busan, Korea.
Private Sector Liaison Officers’ Network and DFIs share ideas on Climate Smart Agriculture
22-May-2018 - The Private Sector Liaison Officers’ Network (PSLO) organized a Climate Smart Agriculture mission in Abidjan, Cote d’Ivoire,13-17 May 2018. During the four-day program, prominent agriculture experts of various Development Finance Institutions and company representatives networked and shared ideas and experiences on agriculture sector strategies, priorities and portfolios of the African Development Bank, the World Bank and other agencies with a view to foster partnerships.