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Inclusive growth and sustainable development in Africa: a major task for regional development banks
05-May-2023 - The average annual GDP (Gross Domestic Product) growth in Africa was 3.4% between 2010 and 2021, according to African Development Bank data. This is well below the targeted yearly average growth of 7%. Combined with population growth, GDP per inhabitant has barely changed.
Madagascar's President Andry Rajoelina named winner of 2023 Babacar Ndiaye Super Prize
04-May-2023 - The Africa Road Builders Selection Committee has named Madagascar’s President Andry Rajoelina, the winner of the prestigious Babacar Ndiaye Trophy, for his commitment to infrastructure development in the island state. He succeeds Tanzanian President Samia Suluhu, who won the award in 2022.
The present and the future belong to your generation, African Development Bank President tells 2023 graduating class of Calvin University
04-May-2023 - African Development Bank Group President Akinwumi A. Adesina has called on young university graduates to be instruments of change in a world beset by increasing socio-economic challenges.
African Development Bank welcomes Banga’s confirmation as World Bank chief
04-May-2023 - African Development Bank Group president Dr. Akinwumi Adesina has congratulated former MasterCard CEO Ajay Banga for his election as head of the World Bank Group, saying he looks forward to working together with him to tackle current global challenges, including climate change. Banga, 63, was confirmed by the World Bank’s board of governors on Wednesday to serve a five-year term as the 14th president, from 2 June. He succeeds David Malpass, who announced his resignation last February.
African Development Bank-supported Cameroonian start-up provides low-cost greenhouses, sustainable solutions to boost livelihoods
03-May-2023 - A youth-led agricultural start-up is supporting farmers in climate-vulnerable Cameroon to produce crops sustainably year-round using low-cost greenhouses and solar-powered irrigation. Mumita Holdings is a beneficiary of the African Development Bank’s investment into the channelling of private capital to young African entrepreneurs, who are seen as critical to unlocking innovative solutions to climate change and the continent’s energy transition.
Digital technologies key to inclusive growth in Africa - African Union Commissioner
03-May-2023 - Digital technologies could offer Africa a great chance to unlock new pathways for rapid, inclusive economic growth and job creation, according to Ambassador Albert Muchanga, the African Union’s Commissioner for Economic Development, Trade, Tourism, Industry and Minerals. In an address to the recent 55th Conference of African Ministers of Finance, Planning and Economic Development, Muchanga said the continent needed to raise the requisite funding to develop its digital knowledge base to achieve growth.
Africa Development Bank’s Africa Climate Change Fund dialogues with Global Affairs Canada delegation
02-May-2023 - The Director of the African Development Bank’s Climate Change and Green Growth Department, Prof. Anthony Nyong, on 25 April in Abidjan, received a delegation from Global Affairs Canada’s Cooperation for Pan-African and Regional Development Program in Cote D’Ivoire.
Madagascar: African Risk Capacity Group-African Development Bank partnership issues $1.5 million insurance pay-out for Tropical Cyclone Freddy recovery efforts
02-May-2023 - Representatives of the African Risk Capacity (ARC) Group and the African Development Bank presented two cheques worth $1.5 million in insurance payouts to the Government of Madagascar and the World Food Programme (WFP) to support the country’s recovery from Tropical Cyclone (TC) Freddy. The funds, comprising $1.2 million to the government of Madagascar and $300,000 to the World Food Programme, were paid under the ARC Replica initiative, an innovative risk-financing solution extended to humanitarian organizations.
Policy Dialogue: Asia-Africa Cooperation on Natural Gas
28-Apr-2023 - What: Policy Dialogue on presenting a new vision for Asia-Africa Cooperation on Natural Gas. Who: African Development Bank Group When: Tuesday, 16 May 2023; 8:00-10:00 AM GMT | 13:30-15:30 PM (India Standard Time) | 16:00-18:00 PM (China Standard Time) | 17:00-19:00 PM (Japan/Korea Standard Time) Where: Virtual (Click here to register)
African Development Bank Debars Société Bel Mabrouk Des Travaux and Investissements S.A.R.L for 13 Months for Fraudulent Practices
28-Apr-2023 - The African Development Bank Group, on 28 April 2023, announces the 13-month debarment of Société Bel Mabrouk Des Travaux et Investissements S.A.R.L with effect from 11 April 2023. Société Bel Mabrouk Des Travaux et Investissements S.A.R.L is a limited liability company registered under the laws of Tunisia.
African Development Bank advocates for strengthening the role of multilateral development banks beyond financing
28-Apr-2023 - On the occasion of its Annual Meetings, to be held from 22 to 26 May 2023 in Sharm el Sheikh, Egypt, the African Development Bank Group plans to highlight the role that multilateral development banks could play in building a new development architecture beyond the financial.
African Development Bank rolls out new Whistleblowing Policy
28-Apr-2023 - The African Development Bank Group has launched a six-month campaign to sensitize its internal and external stakeholders on its new Whistleblowing Policy, approved by the Boards of Directors in January this year. The Whistleblowing Policy 2023 builds on a 2007 policy, which at the time was widely considered as progressive and reflective of the value the Bank Group places on the contribution of whistleblowers to its anti-corruption processes, and its zero tolerance of any retaliation against them.
African Development Bank updates its Integrated Safeguards Systems
27-Apr-2023 - The Board of Directors of the African Development Bank has approved updates to the institution’s Integrated Safeguards System (ISS) on April 12, 2023. Among other changes, the revision clarifies the bank’s roles, responsibilities, and accountability to borrowers and clients. The updates will align the bank more closely with its peers on community health and safety, gender-based violence, and stakeholder engagement in high-risk operations.
African Development Bank appoints Jean-Hubert Bayala as Acting Director for General Services and Procurement
27-Apr-2023 - The African Development Bank Group has appointed Jean-Hubert Bayala, a national of Burkina Faso, as Acting Director for its General Services and Procurement department. The appointment took effect on 1 March 2023. Bayala has over 30 years of progressive professional, technical and managerial experience that includes supporting core Bank Group business operations and financial activities.
African Development Fund, Smart Africa Alliance launch $1.5 million project to enhance digital trade and e-commerce ecosystems across Africa
26-Apr-2023 - The African Development Fund and Smart Africa Alliance have jointly launched a $1.5 million project to streamline digital trade and e-commerce policies across 10 African countries.
The African Development Fund's new Climate Action Window, a pivotal instrument for strengthening Africa's climate resilience
26-Apr-2023 - In December 2022, in Tangier, Morocco, on the occasion of the 16th replenishment of the African Development Fund (ADF), the African Development Bank and its development partners created a Climate Action Window for low-income countries. The window covers 37 member countries of the ADF, which are also among the world’s most fragile and vulnerable to climate change.
Nigeria: African Development Bank and Africa Fintech Network sign $525,000 grant to strengthen development of fintech in Africa
26-Apr-2023 - The African Development Bank has signed a $525,000 grant agreement with Africa Fintech Network (AFN) for the setup of the Africa Fintech Hub, an online portal that will serve as a one-stop shop for all fintech activities in Africa. The agreement was signed on 4 April 2023.
Africa Development Bank Group: a world leader in commitments to climate finance
26-Apr-2023 - As Africa's foremost development finance institution, the African Development Bank Group has significantly increased its commitments to climate finance since the 2015 United Nations Climate Change Conference (COP 21) in Paris.
Japan: Smart water drainage facility reduces cost of damage caused by floods by 90%
26-Apr-2023 - Japan’s megalopolis region of Tokyo has a history of heavy rainfall and typhoons. But the days when the region used to be inundated with flooding are past. The pain of losing lives and livelihoods and seeing property worth billions of dollars being swept away by devastating floods, forced the region to turn to technology for a solution.