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AfDB charges Snamprogetti Netherlands B.V. US $5.7 million in monetary sanction for corrupt practices

28-May-2014 - Snamprogetti Netherlands B.V. admits to corrupt practices from 1995 until 2004 by affiliated companies in relation to the award of AfDB-financed services contracts for liquefied natural gas production plants on Bonny Island, Nigeria.   

Africa tipped on sound water management

27-May-2014 - Water security in Africa is compromised by a highly variable climate with significant annual variability, experts said during the session “Building Water Resilience” at the Annual Meetings of the African Development Bank (AfDB) in Kigali, Rwanda. The experts called on African governments to enhance the profile of water management planning processes.

NEPAD calls for partnership with AfDB to drive implementation of regional programmes

27-May-2014 - The New Partnership for Africa’s Development (NEPAD) seeks to fast-track implementation of continental programmes intended to drive Africa’s transformation.

Lessons in Private-Public Partnership (PPP) from India

27-May-2014 - India’s story of success in implementing the Private-Public Partnership (PPP) model makes it an important partner in facilitating the adoption of this model in Africa. India is one of the developing countries to have successfully received a large-scale investment to the tune of US $300 billion in infrastructure under the PPP model.

Sierra Leone, AfDB provides US $10 million grant for public financial management

27-May-2014 - The African Development Bank Group and the Government of Sierra Leone have committed to good governanceand to tackling corruption, with a view to building a stronger economy. This falls within the country’s inclusive economic management program, aimed to sustainable development and shared economic growth.

We can reduce our risks by sharing our strengths: Tim Turner

27-May-2014 - The second day of the African Development Bank’s (AfDB) Annual Meetings started with “Managing Sovereign Exposure”, a session focused on the challenges of managing the sovereign lending exposure of multilateral development banks (MDBs). The session focused on how MDBs can reduce their country concentration risks by sharing their strengths.

AfDB reaffirms support to Somalia’s reconstruction

27-May-2014 - The African Development Bank has reaffirmed its support to Somalia’s reconstruction as the country embarks on the path of irreversible and durable peace and stability. This was during the roundtable on Somalia held on Friday, May 23, on the closing day of the 2014 of the Annual Meetings of the African Development Bank in Kigali.

Gala fêtes African Development Bank’s 50 years

27-May-2014 - “In the life of an individual, 50 years is a milestone; it’s the same for an institution.” These are the words of Donald Kaberuka, African Development Bank President, at a gala dinner organized in Kigali for the Bank’s Golden Jubilee. The journey that started in 1964 has seen the AfDB grow to include 54 regional member countries (RMCs) with 32 field offices across the continent.

Capacity building is critical to Africa's emergence and industrialisation: Emmanuel Nnadozie

27-May-2014 - In recent years Africa has been making great strides in policy development and at present looks very prepared to move from principle into practice on this. Some leaders say now is the time to boost Africa's industrialisation efforts and that capacity building, which is critical to the continent's emergence, will play an essential role in this.

Strong partnership will boost power generation in Africa, officials say

23-May-2014 - The African Development Bank (AfDB) together with its partners in power generation in Africa have concurred that strong partnership will realise the Power Africa initiative.

AfDB, Microsoft join forces to create jobs for young Africans through ICT

23-May-2014 - Microsoft has proposed a series of measures to African governments to promote the use of information and communications technology (ICT) among unemployed youth.

Agriculture should transform from being a social activity to a business, experts say

23-May-2014 - Although Africa has a large labour force in its agricultural sector, comprising 57% of the working population, it still heavily relies on food imports. This means that farmers are simply not producing enough food to feed the continent’s surging population estimated at one billion people.

AfDB’s 2014 Annual Meetings End in Kigali

23-May-2014 - The 49th Annual Meetings of the African Development Bank (AfDB) and the 40th meetings of the African Development Fund (ADF) closed on Friday, May 23, 2014 in Kigali, Rwanda, after five days of exhaustive deliberations on key African and global development issues.

Security is biggest challenge to Africa’s development: Ali Bongo Ondimba of Gabon

23-May-2014 - Without security, all progress in Africa is not sustainable, the President of Gabon, Ali Bongo Ondimba, said on Thursday, May 22, during the Annual Meetings of the African Development Bank (AfDB) in Kigali, Rwanda.

Climate change financing: AfDB and the Nordic Development Fund ink 5 million euro grant

23-May-2014 - The African Development Bank (AfDB) and the Nordic Development Fund (NDF) have decided to join forces in their bid to deal with climate change. To concretize their ambition, the two entities on Thursday, May 22 in Kigali, signed a 5 million euro grant agreement. Climate change is also one of the strategic issues raised during the Annual Meetings, on the theme: “The next 50 years, the Africa we want”.

Ministers call for an international commitment to peace and development in South Sudan

23-May-2014 - Only three years after independence, the world’s youngest country was still celebrating its newly acquired freedom before it was plunged into violent conflict. On December 15, 2013, South Sudanese woke up to the same gunfire and conflict that they had fought so tirelessly to end.

Special Economic Zones are not an end in themselves: Nigerian’s Agriculture Minister Akinwumi Adesina

23-May-2014 - On the third day of the Annual Meetings, panelists gathered for the “Special Economic Zone: Learning from Experience” session which looked at how African countries can adopt the Special Economic Zone philosophy to accelerate their economic growth.

Regional integration: the importance of the economy and political will

23-May-2014 - Has regional integration come off the rails? Why has Africa reached an impasse in this area despite concerted effort? What steps can be taken to accelerate the process? These were the central questions addressed on Thursday, May 22, during the Governors’ Dialogue at the AfDB's 2014 Annual Meetings in Kigali.

AfDB signs the first grant agreement with post-revolution Libya

23-May-2014 - The African Development Bank (AfDB) Group, on Thursday, May 22, 2014 in Kigali, signed its first post-revolution grant agreement with the Libyan authorities, to assist with leadership capacity building and democratic transition in the country. The grant amounts to US $3.5 million to strengthen the efficiency and effectiveness of the Libyan institutions to deliver democratic governance and sustainable economic and social development.

Urbanization recommended as key to improving living conditions

23-May-2014 - Africa will have 760 million urban residents in 2030 and the figure is expected to multiply to 1.2 billion by 2050. If this population explosion is not matched with growth of megacities across the continent, urbanization is certainly set to suffocate infrastructure, as well as usher in challenges like inadequacy of clean water, sanitation, electricity, public transport and healthcare.