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African Development Bank approves new financing program for energy providers, 4.5 mln people in sub-Saharan Africa to benefit from off-grid power by 2025

12-Jul-2019 - 12-Jul-2019 - Abidjan, Côte d’Ivoire, July 12, 2019 – The Board of Directors of the African Development Bank Group has approved an innovative multinational financing program for Distributed Energy Service Companies (DESCOs), which would see 900,000 households in sub-Saharan Africa – about 4.5 million people -  gain access to solar power by 2025. The DESCOs Financing Program promotes securitization financing techniques to address barriers to accessing finance for DESCOs, while supporting their growth and expansion into existing and new...

La Banque africaine de développement soutient le démarrage du Marché financier unifié d’Afrique centrale

12-Jul-2019 - 12-Jul-2019 - Abidjan, 10 juillet 2019 - La Banque africaine de développement (BAD) réunit les acteurs du marché financier régional en Afrique centrale pour promouvoir le démarrage du Marché financier unifié d’Afrique centrale, le 15 juillet à Douala au Cameroun. Les spécialistes en valeurs du trésor, les Trésors, la Banque centrale et les organes de supervision, se réunissent du 15 au 17 juillet pour finaliser les textes portant approfondissement et développement du marché des valeurs du trésor ainsi que son impact économique et financier...

Board approves Independent Review Mechanism’s recommendations of the first monitoring report on Modern Mills of Mali (M3) Project

12-Jul-2019 - 12-Jul-2019 - On 10 July 2019, the Board of Directors of the African Development Bank Group approved recommendations of the first monitoring report of the Independent Review Mechanism (IRM) on the «Diversification of Activities of the Modern Mills of Mali” (M3) Project in Mali.   The Board asked Bank management to update its action plan and submit biannual supervision reports to the IRM on the progress made in its implementation. Finally, it authorized the independent Review Mechanism (IRM) to conduct a second monitoring mission to...

African Union summit: Niger’s President calls for strong support to the Bank’s General Capital Increase and African Development Fund’s Replenishment

11-Jul-2019 - 11-Jul-2019 - Niamey, Niger, 08 July 2019 – In his opening remarks at the plenary session of the Regional Economic Communities (RECs) meeting, in Niamey, the President of Niger, Mahamadou Issoufou, commended the African Development Bank for its highly valuable contributions to bringing the launch of the African Continental Free Trade Area agreement (AfCFTA) into fruition. President Issoufou called for strong support to the African Development Bank’s quest for a General Capital Increase, “that will help accelerate the continent’s...

Africa Investment Forum 2019: African Development Bank delegation presents opportunities at Japan roadshow

11-Jul-2019 - 11-Jul-2019 - Abidjan, Côte d’Ivoire, 11 July, 2019 -  Japanese companies and investors were presented with a range of investment opportunities in Africa as the African Investment Forum continued a roadshow to showcase the  Forum as an innovative investment marketplace for attracting capital for projects on the continent. African Development Bank officials met with business community leaders and government officials in Tokyo, Japan, from 3-5 July to familiarize them about the upcoming edition of the Forum, scheduled for 11-13...

Green Climate Fund announces $20m for African Development Bank’s Affirmative Finance Action for Women in Africa’s climate resilience project in Ghana

11-Jul-2019 - 11-Jul-2019 - ABIDJAN, Cote d’Ivoire, 11 July 2019 - The Green Climate Fund has announced a $20 million grant to the African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) program for a climate action project to support women-led farmers’ associations and micro, small and medium enterprises in Ghana’s agricultural sector. The funds will go to the “Financing Climate Resilient Agricultural Practices in Ghana” project, following approval by the Green Climate Fund board at a meeting held 6 - 8 July 2019 in Songdo,...

Africa Investment Forum 2019: Nigeria expected to be major player

10-Jul-2019 - 10-Jul-2019 - ABUJA, Nigeria 10 July 2019 - Nigeria will feature significantly in the 2019 Africa Investment Forum scheduled to take place in Johannesburg, South Africa this November, business leaders and government heard at a roadshow event held in the capital Abuja. Following the hugely successful inaugural edition held last year, the African Development Bank’s innovative investment marketplace set up to accelerate investment into the continent, will convene for its second meeting from 11-13 November. The Nigerian roadshow, held 9th...

Angola to Sign Lusophone Country-Specific Compact

09-Jul-2019 - 09-Jul-2019 - WHO: The Government of Angola, the Government of Portugal, and the African Development Bank WHAT: Lusophone Country-Specific Compact Signing Ceremony      WHERE: Luanda International Fair (FILDA), Special Economic Zone WHEN: 10 July 2019, 10:15-11:25 a.m. On 10 July 2019, The Governments of Angola and Portugal and the African Development Bank, will sign a Country-Specific Compact designed to accelerate the inclusive, sustainable and diversified growth of Angola’s private sector. The...

African Development Bank, Portugal and Cabo Verde sign compact to accelerate diversification, private sector development

09-Jul-2019 - 09-Jul-2019 - Abidjan, Cote d’Ivoire, 09 July, 2019 - The African Development Bank and the governments of Cabo Verde and Portugal have signed a country specific memorandum of understanding for the implementation of the Lusophone Compact, which aims to accelerate private sector development in Portuguese-speaking countries of Africa. The signing took place on Sal Island on 1 July, between Olavo Correia, Vice Prime Minister and Minister of Finance of Cabo Verde, Helena de Paiva, Portugal’s Ambassador to Cabo Verde; and Moono Mupotola, the...

Independent Development Evaluation Annual Report highlights a year of Delivering knowledge, engaging with stakeholders, and responding to evaluation needs to improve the lives of the people in Africa

08-Jul-2019 - 08-Jul-2019 - On 21 May 2019,Independent Development Evaluation (IDEV) at the African Development Bank presented its 2018 Annual Report to the Bank’s Committee on Development Effectiveness. Covering a year in which evaluation and evaluators worldwide were called upon to “speak truth to power”, the report, entitled Delivering, Engaging and Responding, focuses on how IDEV delivered evaluative knowledge; engaged with Bank operations staff, stakeholders and partners to strengthen its products and build a culture of evaluation; and responded to...

Niger: African Development Bank President attends historic African Union summit, decries child marriage

08-Jul-2019 - 08-Jul-2019 - Niamey, Niger 08 July 2019 – The president of the African Development Bank, Akinwumi Adesina joined continental leaders in Niger for an African Union summit which saw the official launch of the African Continental Free Trade Area agreement – the world’s largest free trade area since the formation of the World Trade Organization. The agreement, ratified in April, will cover a market of 1.2 billion people and an estimated gross domestic product (GDP) of $2.5 trillion, across all 55 member States of the...

African Legal Support Facility appoints new chairman and two board members

05-Jul-2019 - 05-Jul-2019 - The African Legal Support Facility (ALSF) has bid a fond farewell to the outgoing members of the Management Board, the Chairperson, Dorcas Auma Achapa (Kenya) and Professor Dandi Gnamou (Benin) for their three years of excellent contributions to the organization. Afterwards, the ALSF warmly welcomed two additions to its Management Board – Eva Jhala (Zambia) and Nimatou D. Feliho (Benin). The two will serve for three years. The passing of the torch occurred on 10 and 11 June at the Annual Meetings of the ALSF in Malabo,...