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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.
Annual Meetings: Governance and Africa-Korea technological cooperation at the centre of KOAFEC discussions
22-May-2018 - Sanussi Il Lamido, Emir of Kano and former Governor of the Central Bank of Nigeria called on African nations to provide evidence of transparency in their economic management, stating that corruption is a serious obstacle to the continent’s development. “Perceptions are important. It is critical to improve transparency in our countries, since transparency is clearly linked to good governance,” he said during a co-led high-level panel that included several African ministers and the President of the African Development Bank, Akinwumi Adesina.
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.The African Development Bank issues EUR 1.25 billion 0.875% 10-year Social Bond due 24 May 2028
22-May-2018 - On Wednesday, 16th May 2018, the African Development Bank (“AfDB”), rated Aaa/AAA/AAA by Moody’s / S&P / Fitch (with stable outlook) successfully priced a EUR 1.25 billion 10-year Social Bond transaction. The transaction, which follows the inaugural EUR 500 million 7-year Social Bond issued in November 2017, was priced at mid-swaps (MS) minus 8 basis points (bps), 2 bps inside Initial Pricing Thoughts (IPTs). This equated at the time of pricing to a spread of 36.7 bps over the German Bund DBR 0 ½ 15/02/28.
High-level panel session to highlight importance of disaster risk financing in building resilience
22-May-2018 - A high-level panel session on the importance of disaster risk financing solutions in building resilience and protecting development gains will be held at the 2018 Annual Meetings of the African Development Bank taking place in Busan. The session will focus on Climate and Disaster Risk Financing: The role of the African Risk Capacity (ARC) and the Africa Disaster Risk Financing Programme (ADRiFi). Who:
African Banker Awards crowns top performers in the continent’s banking and financial sector
21-May-2018 - Since 2012, the African Development Bank has been a partner of the African Banker Awards. The awards are organized by African Banker magazine, which specializes in the banking and financial sector in Africa. The annual award ceremony is held on the sidelines of the African Development Bank’s Annual Meetings. The annual ceremony takes place Tuesday evening at the Paradise Hotel in Busan.
African Development Bank and UNIDO join forces to accelerate Africa’s industrialization
21-May-2018 - The African Development Bank (AfDB) and the United Nations Industrial Development Organization (UNIDO) signed a Memorandum of Understanding (MoU) on Monday, May 21 to step up collaboration to boost Africa’s industrialization.
Annual Meetings of the Boards of Governors of the African Development Bank Group
21-May-2018 - The 53rd Annual Meeting of the Board of Governors of the African Development Bank and 44th Meeting of the Board of Governors of the African Development Fund, the concessional arm of the Bank Group, are scheduled to take place from May 21-25, 2018 in Busan, Korea.
Why Africa must trust and support its youth to creatively drive its industrialization
21-May-2018 - Many young Africans are coming up with innovative solutions to the continent’s problems and should be trusted and supported to drive continent’s industrialization, participants at the 2018 Annual Meetings of the African Development Bank heard in Busan. How to leverage the continent’s youth to accelerate economic prosperity through industrialization was the focus of a session on “Bridging innovation and industry: African youth solving continental challenges.”
“Africa must no longer be a museum of poverty,” declares African Development Bank President
21-May-2018 - By 2050 about 580 million young Africans will enter the labour market, Akinwumi Adesina, President of the African Development Bank (AfDB), observed Monday, noting that African people are tired of poverty. “Africa must stop being a museum of poverty. Its people are determined to reverse this trend. The future of young Africans is not in Europe, their destiny is not to end their lives in the Mediterranean Sea,” he stressed during a lively press conference on Day 1 of the Bank’s 53rd Annual Meetings, taking place from May 21 to 25 in Busan, Korea.New champion joins forces with African Leaders for Nutrition
21-May-2018 - The African Leaders for Nutrition (ALN) initiative aims to mobilize political action and leadership for nutrition in Africa by building a high-level forum that strengthens government policies and financial commitment to end malnutrition.ALSF co-organizes regional workshop on Negotiating Fishing Agreements and Concession
21-May-2018 - Illegal, Unregulated, and Unreported (IUU) fishing represents US$ 1.2 billion loss in revenue for West African countries alone. Some of this loss is due to inadequate governance in the sector. There is a growing awareness among African countries and regional bodies dedicated to maritime economy, of the need to strengthen capacity in this sector and empower government ministries for negotiations.
Innovative technologies need to reach African farmers for agricultural transformation to happen
21-May-2018 - For Africa to witness true agricultural transformation, technologies need to reach farmers to enhance productivity. This was part of the outcomes of the Leadership4Agriculture Forum held at the 53rd Annual Meetings of the African Development Bank taking place in Busan, Korea from May 21-25. Participants included Ministers and key partners involved in the development of agriculture industrialization infrastructure for the continent.Nigeria: African Development Bank approves US$100 million for expansion of fertilizer production
17-May-2018 - The African Development Bank has approved US$100 million senior loan to Nigerian firm, Indorama Eleme Fertilizer & Chemicals Limited, to support the company’s plans to double its fertilizer production from 1.4 million tons of urea to 2.8 million tons per annum.
Bank Group organizes a workshop for sharing best practices in Somalia’s electricity industry
17-May-2018 - The African Development Bank and the Federal Government of Somalia concluded a two-day (26-27 April 2018) consultation and knowledge-sharing workshop on “Regulating the Somalia Energy Sector.”Mali : la Banque africaine de développement accorde un prêt de 8 millions d’euros pour soutenir le commerce
17-May-2018 - C’est une bonne nouvelle pour le commerce au Mali, mais surtout pour les petites et moyennes entreprises : le Conseil d'administration de la Banque africaine de développement a approuvé, le 16 Mai 2018 à Abidjan, en Côte d’Ivoire, une ligne de crédit de 8 millions d’euros en faveur de la Banque sahélo-saharienne pour l’investissement et le commerce au Mali (BSIC-Mali). Celle-ci devrait profiter de cette ligne de crédit pour renforcer ses efforts de financement au profit des petites et moyennes entreprises, un des secteurs clés de l’économie...Capacity building on Sovereign Debt and Creditor Litigation in São Tomé & Príncipe
16-May-2018 - To assist the government of São Tomé & Príncipe, a lower middle income island with a fragile economy, the African Legal Support Facility (ALSF) organized a training to raise awareness and enhance capacity of Santomean lawyers in matters pertaining to sovereign debt and creditor litigation.Experts discuss financial needs for energy access at 5th Annual SEforALL Africa Workshop in Lisbon
16-May-2018 - Back-to-back with the SEforALL Global Forum held in Lisbon recently, the SEforALL Africa Hub held its Fifth Annual Africa Workshop under the headline “Financing the Pipeline.” Over 70 participants from public and private sector, financial institutions, developments partners and civil society participated in a lEUR 200 million to develop Morocco’s agricultural value chains and reinforce sustainable job creation
16-May-2018 - The Board of Directors of the African Development Bank has approved EUR 200 million loan to support inclusive and Sustainable Development of Agricultural Value Chains in Morocco. This operation will support the creation of jobs in rural areas by developing inclusive value chains that will Increase the sustainability and effectiveness of jobs created through green governance and water resource management. It will also finance the implementation of agriculture, environment, employment and vocational training strategies.