Agreements

Displaying 37 - 48 of 356

African Development Bank supports fiber-optic development in the Central African Republic

31-May-2018 - The Central African Minister of Economy, Planning and International Cooperation, Félix Moloua, and the Director General for Central Africa Regional Development and Business Delivery Office of the African Development Bank, Ousmane Doré, signed three grant agreements in Busan, Korea, of FCFA 22,107 billion to finance the fiber-optic backbone project for Central Africa – CAF component. Two grants are funded from the African Development Fund (FCFA 8.44 billion) and from the Transition Support Fund (FCFA 2,480...

Supporting Women-owned Businesses and SMEs in Sierra Leone

31-May-2018 - At its 2018 Annual Meetings in Busan, Korea, the African Development Bank signed a 5-year, US $3-million Line of Credit (LoC) with Sierra Leone’s Union Trust Bank (UTB), the only indigenous private bank in Sierra Leone and an important provider of finance for indigenous micro, small and medium-sized enterprises. The LoC will primarily target local SMEs and women-owned businesses working in agriculture, energy, manufacturing and services, among others. Private-sector development will benefit from having more...

The African Development Bank and the Global Green Growth Institute partner to fast-track Green Growth in Africa

25-May-2018 - The African Development Bank(link is external) and the Global Green Growth Institute(link is external) (GGGI) signed a Memorandum of Understanding (MoU) Friday on the sidelines of the African Development Bank Group’s Annual Meetings in Busan, to promote programs, projects, joint studies and research activities to accelerate green growth options for African countries. The African Development Bank and the Global Green Growth Institute will cooperate in several areas, including conducting a joint study on green...

Supporting regional integration in the Lake Chad Basin

25-May-2018 - Two loan agreements totaling €44.51 million were signed on Thursday, May 24 in Busan, Korea, by Alamine Ousmane Mey, Cameroon’s Minister of Economy, Planning and Regional Development, and Ousmane Doré, Director General for the African Development Bank Central Africa Regional Development and Business Delivery Office. This financing by the Bank (€33.32 million) and the African Development Fund (€11.19 million) will partially fund the regional road network integration project in the Lake Chad Basin...

FAPA Donors and AFAP sign grant agreement in support of local supply and utilization of fertilizer in Africa

24-May-2018 - On the sidelines of the African Development Bank Annual Meetings in Busan, Korea, the Fund for African Private Sector Assistance (FAPA)(link is external) donors and the African Fertilizer and Agribusiness Partnership (AFAP) have signed a grant agreement in support of local supply and utilization of fertilizer by smallholder farmers in Africa. This FAPA grant of US $1 million will help increase affordability, accessibility and incentives for fertilizer use among smallholder farmers in Africa and expand the supply...

Integrity in Development Projects: African Development Bank and Sinohydro Reach Settlement Agreement on Fraudulent Practice

24-May-2018 - The African Development Bank Group (AfDB) on June 15th, 2017, announced the conclusion of a settlement agreement with Sinohydro Corporation. An investigation conducted by the AfDB’s Office of Integrity and Anti-Corruption established that Sinohydro Corporation engaged in a fraudulent practice in bidding for works contracts in the context of the AfDB-financed Road Sector Support Project in Uganda.  As part of the settlement, the AfDB imposes a conditional non-debarment for a period of three years, subject to the...

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. “The Bank launched in 2016 its Industrialization Strategy for Africa 2016-2025, which was the outcome of collaborative work with UNIDO and the United Nations Economic Commission for Africa. The signing of the present MoU is key to our Strategy’s implementation,” said African Development...

Cameroon: 25th Member State to ratify the African Legal Support Facility Treaty

24-Apr-2018 - The President of the Republic of CameroonPaul Biya, ratified the agreement to establish the African Legal Support Facility (ALSF) on April 13, 2018 in the presence of his cabinet. Cameroon is the 25th Member State to ratify the treaty. The bill authorizing President Biya to ratify the agreement was brought before the Senate, under the chairmanship of Senate President, Marcel Niat Njifenji, after the country’s National Assembly adopted the proposed statute. After the 100 upper house members...

Three leading development finance institutions sign loan agreement to support capital markets and high impact sectors in Africa

13-Apr-2018 - Overseas Private Investment Corporation (OPIC), the African Development Bank (AfDB) and ALCB Fund Board Members have signed a loan agreement to support high impact sectors in Africa focusing on housing, agriculture and SMEs. OPIC contributed US $40 million to the Fund while the African Development Bank is providing a Senior Loan of ZAR 140 million ($10 million) to support the development of local currency corporate bond markets in Africa. The latter loan was first local currency financing obtained by the ALCB...

African Development Bank’s Trade Finance Operation signs US $100-million soft commodity finance facility agreement with the Export Trading Group

12-Apr-2018 - The African Development Bank has signed a loan agreement for a soft commodity finance facility (SCFF) with the Export Trading Group (ETC). This Facility is innovatively structured as two successive loans of US $100 million, each with a tenor of up to 2 years, thus signifying the African Development Bank’s strong commitment to the promotion of agriculture in Africa. This SCFF is one of the core Trade Finance instruments in the Bank that will provide pre- and post-shipment finance along various stages of ETC’s...

African Development Bank and Portuguese Government plan to unlock growth opportunities in Africa’s Lusophone countries

12-Apr-2018 - To help unlock economic growth, the African Development Bank is coordinating the implementation of an integrated development strategy for Portuguese-speaking countries in Africa. In preparation for the rollout of this initiative, the Bank and the Government of Portugal have signed an agreement to provide language training to African Development Bank staff interested in learning Portuguese, as well as professional conference translation services. The language-learning cooperation agreement, signed by the...

The Republic of Angola and the Bank sign a loan agreement of US $101.07 million to support agricultural value chains development in Cabinda Province

29-Mar-2018 - The Government of the Republic of Angola, represented by Augusto Archer de Sousa Mangueira, Minister of Finance and Governor for the African Development Bank, and the Bank, represented by Joseph Ribeiro, Country Manager for Angola, signed on Tuesday, January 16, 2018 in Cabinda Province, a loan agreement in the amount of US $101.07 million for the Cabinda Provincial Agriculture Value Chains Development Project. Speaking at the ceremony, the Governor of Cabinda Province, Eugénio César Laborinho, praised the Bank...