Loans & Grants

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Eswatini on track to strong growth, African Development Bank team concludes after consultation mission

06-Feb-2019 - 06-Feb-2019 - The Kingdom of Eswatini is on track for progress following encouraging country performance in execution of ongoing projects, Executive Directors of the African Development Bank concluded following a consultative mission to the southern African nation. The delegation of nine directors met with Prime Minister Ambrose M. Dlamini and several members of his cabinet including Minister of Finance and Bank Group Governor, Neal Rijkenberg, Minister of Economic Planning and Development, Tambo Gina; Minister of Agriculture...

African Development Bank, ECOWAS, sign agreement for study on Abidjan-Lagos Corridor Highway

05-Feb-2019 - 05-Feb-2019 - The African Development Bank and the Economic Community Of West African States Commission (ECOWAS) have signed an agreement for a study into a 1,000 kilometre highway linking Cote d’Ivoire’s commercial capital Abidjan, to Lagos in Nigeria, marking a new step in building regional integration and trade. The proposed Abidjan-Lagos Corridor Highway, a six-lane (3-lane dual) motorway, will connect the countries via Ghana (Accra), Togo (Lomé) and Benin (Cotonou).The agreement signed Monday for a study on the technical...

African Development Bank President Adesina confident of “very promising future” for continent

05-Feb-2019 - 05-Feb-2019 - "The future of our continent is looking very promising indeed," African Development Bank Group President Akinwumi Adesina declared in the opening words of his address to diplomats  at a lunch organised today, Tuesday, in Abidjan. Adesina referred to the Bank’s recent flagship publication, the African Economic Outlook 2019, which noted that the recovery in commodity prices is driving domestic demand and infrastructure investment, while real Africa’s GDP continued to improve in 2018 to 4.1%. The Bank expects...

Agriculture et entreprenariat agricole en Guinée : La Banque africaine de développement et les autorités guinéennes signent pour 11 millions de dollars d’accords de financement

24-Jan-2019 - 24-Jan-2019 - Le Bureau national de la Banque africaine de développement en Guinée (COGN) et le ministère guinéen du Plan et du développement économique ont procédé à la signature de deux protocoles d’accord, l’un de don et l’autre de prêt, vendredi 18 janvier 2019, au Petit palais, sur la presqu’île de Kaloum à Conakry. D’un total de 11 millions de dollars, ces accords de financement sont destinés au projet d’appui à la transformation de l’agriculture guinéenne et de l’entreprenariat agricole des jeunes (PATAG EAJ). D’un...

First statutory meeting of the African Development Bank-Civil Committee

21-Jan-2019 - 21-Jan-2019 - The African Development Bank - Civil Society Committee held its first statutory meeting at the Bank’s headquarters in Abidjan on 15-16 January, 2019. The committee is an advisory group set up by the Bank to strengthen links and collaboration with civil society in Africa, and is composed of 11 civil society organisations with proven expertise in at least one of the Bank's five major development priorities, known as the High 5s. The committee members also represent the continent's five sub-regions (North Africa,...

African Development Bank and ICRC join forces to accelerate economic resilience in fragile contexts

18-Jan-2019 - 18-Jan-2019 - The African Development Bank Group and the International Committee of the Red Cross (ICRC) signed a letter of intent on Wednesday 16th January 2019 at the Bank’s headquarters in Abidjan. The letter commits the institutions to increase their collaboration to accelerate gender equality, build resilience, and provide improved economic opportunities in Africa’s transition countries. “We recognise that security issues cannot be divorced from development. And that sustainable, healthy and inclusive economic...

African Development Bank and Rwanda Sign financing agreements worth €115 million for water projects

17-Jan-2019 - 17-Jan-2019 - The African Development Bank (AfDB) has signed financing agreements worth €115 million with the Government of Rwanda to support the Rwanda Sustainable Water Supply and Sanitation Programme as additional financing. The funding, which comprises €114.27 million from the AfDB window and €0.8 million from the Rural Water Supply and Sanitation Initiative Trust Fund, augments the original financing of €104 million AfDB loan and €43 million Africa Growing Together Fund ...

African Economic Outlook 2019: Africa growth prospects remain steady, industry should lead growth

17-Jan-2019 - 17-Jan-2019 - Africa’s general economic performance continues to recover and GDP growth is projected to accelerate to 4.0 percent in 2019 and 4.1 percent in 2020. But improved macroeconomic and employment outcomes require industry to lead growth, according to the 2019 African Economic Outlook report, launched today by the African Development Bank. Published annually since 2003, the African Development Bank’s flagship report provides headline numbers on Africa’s economic performance and outlook. The focus of the 2019 report on...

The African Legal Support Facility to receive € 5 million grant from the European Union

15-Jan-2019 - 15-Jan-2019 - The European Commission has approved a grant of 5 million euros to the African Legal Support Facility, to finance the Facility’s Medium Term Strategy for the next five years. ALSF, hosted by the African Development Bank, to date has supported African countries to negotiate commercial deals worth more than US$60 billion in potential investments, mainly in the infrastructure and extractive sectors. This assistance from the European Union, will boost resources required to consolidate these achievements and...

Accord Commission européenne-Banque africaine de développement : 60 millions d’euros pour l’interconnexion électrique Cameroun-Tchad et pour la Dorsale transsaharienne à fibre optique

08-Jan-2019 - 08-Jan-2019 - La Commission européenne et la Banque africaine de développement ont procédé,- à la signature de deux accords de co-financement, au profit du projet d’interconnexion électrique entre le Cameroun et le Tchad et de la Dorsale transsaharienne à fibre optique (DTS). C’était le jeudi 20 décembre 2018, au siège de la Commission européenne à Bruxelles. M. Ousmane Doré, directeur général de la Banque pour l’Afrique centrale, et Mme Francesca Di Mauro, chef de l’unité Afrique centrale et australe, et océan Indien de la...

African Development Bank approves US$14.12 million to support Nigeria’s membership in African Trade Insurance (ATI) Agency

08-Jan-2019 - 08-Jan-2019 - The African Development Bank Group, through its Trade Finance operations, has approved a US$14.12 million facility to support the Federal Republic of Nigeria’s membership in the African Trade Insurance Agency (ATI). This is a critical and mandatory step to enable ATI commence its operations in Nigeria. Nigeria, as Africa’s largest economy, joins 14 other African countries that have already signed up to ATI membership. Once membership formalities in ATI are finalized, Nigeria could benefit from gross political...

Tunisia: African Development Bank and European Bank for Reconstruction and Development invest 150 million euros to improve sanitation in small municipalities

08-Jan-2019 - 08-Jan-2019 - The African Development Bank and the European Bank for Reconstruction and Development (EBRD) signed on 8th January  a loan agreement with the Ministry of Development, Investment and International Cooperation (MDICI) and the National Office for Sanitation (ONAS) to finance the sanitation programme for small municipalities with fewer than 10,000 inhabitants. Nearly 200,000 inhabitants of small municipalities in Tunisia will benefit from significant environmental improvements thanks to a 150 million euros loan...