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Annual Meetings of African Development Bank Group, 2024: The Bank’s independent sanction mechanisms are effective but major challenges still remain (the opinion of judges)
01-Jun-2024 - The independent sanction mechanisms put in place by the African Development Bank (AfDB) to improve its governance, control and accountability are effective but still face major challenges. Such was the opinion expressed on Tuesday, 28 May 2024 in Nairobi by the judges who sit on various sanction mechanisms at the Bank.
African Development Bank Joins the African Carbon Markets Initiative to Enhance Climate Finance
01-Jun-2024 - The African Development Bank has announced its official membership in the African Carbon Markets Initiative (ACMI) as of 30 May. This strategic move is set to empower African countries and the private sector in securing additional resources to combat climate challenges effectively. Dr. Kevin Kariuki, the Bank’s Vice President for Power, Energy, Climate, and Green Growth, made the announcement during a round table at the 2024 Annual Meetings of the Bank Group, held in Nairobi, Kenya, from 27 to 31 May.
The African Development Bank and civil society unite in favour of Africa’s transformation and overhaul of the global financial architecture
01-Jun-2024 - Achieving inclusive growth depends on the involvement of all stakeholders in the design and implementation of development work. Such was the main conclusion of the debate under the title “Mobilising civil society to shape Africa's transformation and reforms of the global financial architecture”, which took place on 31 May on the sidelines of the Annual Meetings of the African Development Bank (AfDB) in Nairobi. The event was an opportunity to set out the institutional arrangements for involving civil society in the programmes and projects of...
African Development Bank Group Annual Meetings 2024: the need for responsible, innovative solutions for African debt management
31-May-2024 - It is essential to find innovative solutions for managing the debt of African countries, taking proactive measures to secure development financing for Africa, according to members of the panel speaking in Nairobi on Tuesday at a side event during the African Development Bank Group’s Annual Meetings, which are taking place in the Kenyan capital from 27 to 31 May.
Africa Investment Forum Bankability Series showcases Innovative Approaches to Attract Global Capital to Africa
31-May-2024 - The Africa Investment Forum has launched a series of investment roundtables to overcome Africa's project bankability challenges and, ultimately, bridge its infrastructure investment gap. The Roundtables will showcase key players currently focused on project development and bankability in Africa.
African Development Bank Group Annual Report 2023: Effective delivery, operations and innovation build resilience and recovery for its African members post COVID-19
31-May-2024 - The African Development Bank Group has released its Annual Report for 2023, painting a picture of improved financial performance and robust support to its member countries across Africa. The critical financial support has resulted in increased resilience and recovery despite the challenging effects of regional conflicts, economic shocks, climate change, and the after-effects of the COVID-19 pandemic.
Annual Meetings 2024: Centenary Rural and Development Bank named Affirmative Finance Action for Women in Africa initiative’s “AFAWA Bank of the Year” at African Banker Awards
31-May-2024 - A Kampala-based commercial bank with a “mission critical focus” to provide financial services to vulnerable women entrepreneurs has been named the “AFAWA Bank of the Year” at the African Banker Awards.
Annual Meetings 2024: Netherlands bolsters Africa's climate resilience with $27 million disaster financing pledge to African Development Bank
31-May-2024 - Representatives from the Kingdom of the Netherlands and the African Development Bank Group this week discussed further details of the Dutch government’s recent $27 million financial commitment to the Africa Disaster Risk Financing Program Multi-Donor Trust Fund. With this commitment, signed earlier this month, the Netherlands becomes the sixth contributor to the Fund, operated by the Bank Group to boost Africa’s resilience and responsiveness to climate shocks.
Annual Meetings 2024: Comoros, Djibouti, Somalia and South Sudan join $35 million African Development Bank climate disaster risk financing project
31-May-2024 - The African Development Bank Group Vice President for Agriculture, Human and Social Development joined finance ministers and representatives from Comoros, Djibouti, Somalia and South Sudan for the signing agreement for a $35 million project to build resilience and responses to climate shocks. The signings took place on the sidelines of the Bank’s 2024 Annual Meetings in Nairobi.
Annual Development Effectiveness Review 2024: African Development Bank Group’s vice presidents share positive development impact in 2023
31-May-2024 - Senior officials from the African Development Bank Group detailed the positive impacts of Bank-supported projects affecting virtually all facets of life across the continent during 2023—a year hailed as one of the most successful in its history. Bank Vice President Marie-Laure Akin-Olugbade said: “2023 was an exceptional year for the African Development Bank, $10.1 billion in approvals, a 30% increase on 2022—this is the second highest level approvals in the history of the Bank.”
Side Event on Engaging Civil Society in shaping Africa’s transformation and the Reforms of the Global Financial Architecture at the African Development Bank Group’s 2024 Annual Meetings
30-May-2024 - WHAT: Side Event on Engaging Civil Society in shaping Africa’s transformation and the Reforms of the Global Financial Architecture at the African Development Bank Group’s 2024 Annual Meetings WHO: The African Development Bank’s Civil Society and Community Engagement Division WHEN: 31 May 2024; 9:00 a.m. - 10:30 a.m. East Africa Time (GMT+3)2024 Japan-Africa Business Forum - Pre-TICAD 9 event
30-May-2024 - What: Japan-Africa Business Forum 2024 (Pre-TICAD 9 event), “Exploring Investment Risks in Africa: Unveiling the True Potential and Challenges.” Who: African Development Bank, Japan Association of Corporate Executives (Keizai Doyukai) When: Tuesday 18 June 2024, 5.30 – 08.30 GMT (Côte d’Ivoire), 6.30-09.30 GMT+1 (Tunisia, Nigeria), 7.30 - 10.30 GMT+2 (South Africa), 14.30 - 17.30 GMT+9 (Japan) Where: Tokyo Kaikan and Online (Hybrid)
Announcement of the Effectiveness of Bank Group’s updated Integrated Safeguards System (ISS)
30-May-2024 - I am thrilled to announce that effective from May 31st, 2024, the African Development Bank Group's updated Integrated Safeguards System (ISS), approved by the Board of Directors on 12th April 2023, will come into full effect!
Harnessing Human Capital: Key Insights from African Development Bank Group’s 2024 Annual Meetings
30-May-2024 - Africa is known for its generally youthful population. But is the continent truly harnessing this demographic dividend to its advantage? This question was at the heart of a forum hosted by the Kenyan government on May 27 on the sidelines of the African Development Bank Group’s 2024 Annual Meetings in Nairobi. The panel discussion, titled “Harnessing Human Capital for Sustainable Growth and Development in Africa: Demographic Dividend and Circular Movement of Skilled Labour,” rallied experts to deliberate on the issue.
African Development Bank Group Annual Meetings 2024: President Adesina calls for Bank makeover to attract game-changing private sector investment
30-May-2024 - Dr. Akinwumi Adesina, the president of the African Development Bank Group, today unveiled an ambitious five-point programme to attract much-needed private sector investment to accelerate Africa’s economic transformation and meet the challenges of a host of interlocking global crises.
African Leaders Join African Development Bank’s Call for Action to Reform the Global Financial Architecture at its 2024 Annual Meetings
30-May-2024 - With $200 billion invested in development projects across the continent since its establishment in 1964, the African Development Bank Group is leading the charge in transforming Africa’s development landscape, as a solutions bank. At the institution’s 2024 Annual Meetings in Nairobi, six African Presidents joined the Group’s President Dr. Akinwumi Adesina’s call for action to reform the global financial architecture to unlock more resources to scale up Africa’s economic transformation.
Annual Development Effectiveness Review 2024: Africa Demonstrates Resilience Amid Multiple Crises
30-May-2024 - The latest edition of the Annual Development Effectiveness Review (ADER), released on Thursday, highlights the African Development Bank Group’s critical contributions to the continent’s development priorities in 2023.
41 African countries set for stronger growth in 2024, keeping continent second fastest growing region in the world—African Development Bank’s Economic Outlook
30-May-2024 - African economies remain resilient, despite challenges that are testing economies worldwide. According to the latest African Development Bank Group’s African Economic Outlook, 41 countries on the continent are projected to experience stronger growth rates in 2024 than they did in 2023.
Transforming African Economies through Circular Solutions - The case of the Africa circular Economy Facility
29-May-2024 - What: African Development Bank Annual meetings side event: Transforming African economies through Circular Solutions Who: The African Development Bank, Government of Finland, the Nordic Development Fund, Trade and Development Bank and UNEP Africa When: Friday, May 31 – 09 :00 to 10:30 EAT