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Mauritania: AfDB funding emergency humanitarian relief for flood victims

23-May-2014 - "The AfDB is a preferential partner of Mauritania. It has funded various projects in the country and helped to improve socio-economic conditions for the Mauritanian population," stated Diomba Thiam, Minister of Finance for Mauritania, at the African Development Bank’s Annual Meetings in Kigali.

Exim Bank of India and Nigeria sign US $100 million loan for energy development

23-May-2014 - The Export-Import Bank of India (Exim Bank) and Nigeria signed a US $100-million line of credit agreement on May 22, for the financing of three energy projects in the provision of electricity transformers to solar electrification in rural areas.

African leaders call for harmonized approach to conflict prevention, management

23-May-2014 - A high-level panel comprised of former African leaders including Nigeria’s Olusegun Obasanjo and South Africa’s Thabo Mbeki has recommended the need for African countries to develop an early warning mechanism that will help them to prevent conflicts, during a session held late Tuesday at the ongoing Annual Meetings of the African Development Bank (AfDB) in Kigali.

Rwanda cited as metaphor for resilience at AfDB Annual Meetings

23-May-2014 - Rwanda, host of the 2014 Annual Meetings of the African Development Bank Group (AfDB), commemorated the 20th anniversary of the genocide which claimed a million lives, mainly people of the Tutsi ethnic group and moderate Hutus in one hundred days, in April 1994. The narrative on “how quickly” Rwanda recovered from what many saw as an irrevocable apocalypse is not lost to delegates attending the meetings.

Gender dividend: The economic benefits of investing in women

23-May-2014 - The debate around gender equality has recently adopted the notion of gender dividend whose focus is to increase the economic opportunities of women. Its proponents believe that there is a business case to be made for gender equality and that the fact that women make up a significant part of the population makes them vital to the development process.

"The Africa50 Fund to build the Africa of tomorrow": AfDB President Donald Kaberuka

23-May-2014 - The closing press conference of the 49th Annual Meetings of the African Development Bank (AfDB) on Thursday, May 23 in Kigali once again gave AfDB President Donald Kaberuka an opportunity to return to the concept of the Africa50 Fund. According to Kaberuka, "The Africa50 Fund is a simple concept adopted after 12 months of preparation, based on the mobilisation of African savings to finance African infrastructure.

A healthier business climate is a prerequisite for strong growth in Africa, say African leaders

23-May-2014 - Africa needs to make its business environment attractive to draw investors and ensure strong growth, said panelists in a session called "Harnessing the Investment Climate" at the 49th Annual Meetings of the African Development Bank (AfDB) in Kigali. 

Post-MDG programme targets economic inclusion in Africa

22-May-2014 - The African Development Bank 2013 Annual Report, published on May 21 in Kigali, states that Africa has made some progress towards Millennium Development Goals (MDGs), particularly with regard to reductions in maternal and infant mortality, education for all and the improvement of 

Down Memory Lane: Tracking AfDB’s footprint in Africa’s development

22-May-2014 - The African Development Bank Group’s 2014 Annual Meetings provides an opportunity to trace the institution’s development journey in line with the meetings theme: “The Next 50 Years: The Africa We Want.” The financial presentation of the Bank’s operations provided a fertile ground to assess its accomplishment and envision the way forward.

President Paul Kagame receives special recognition at 2014 African Banker Awards for Rwanda's achievements

22-May-2014 - Rwanda’s President, Paul Kagame, has received a special recognition award at the African Banker Awards 2014for Rwanda's achievements, including spearheading the economic growth and transformation that the country has registered over the last 20 years.    The annual event, which took place on Wednesday, May 21 at the ongoing Annual Meetings of the African Development Bank, seeks to recognize the reforms, rapid modernization and expansion of banking and finance in Africa.

High-level debate: Leaders focus on integration and the need for a change in mindset

22-May-2014 - Africa still does not occupy its rightful place on the world stage, but the continent's economy is healthier than it was four years ago. This was the consensus of the High-Level Debate on May 21, 2014 at the African Development Bank's (AfDB) Annual Meetings in Kigali.

Panelists urge African governments to boost the continent’s agriculture productivity

22-May-2014 - African governments have been urged to boost the continent’s agriculture by accelerating the development of infrastructure such as roads and storage, increasing access to financial services such as credit and insurance, and dropping intra-African barriers to trade.

With 6% growth, Africa is showing good resilience to the crisis in 2013

22-May-2014 - Sub-Saharan Africa recorded 5% growth in 2013 – 6% if South Africa is excluded from the figures. These are the findings of the 2013 Annual Report of the African Development Bank (AfDB) published on May 21 in Kigali, Rwanda, as part of the Bank's Annual Meetings.

AfDB announces US $2 billion fund with China

22-May-2014 - The African Development Bank (“AfDB”) and the People’s Bank of China (“PBOC”) on Thursday, May 22 entered into a US $2 billion co-financing fund to be known as the Africa Growing Together Fund (“AGTF”).  The resources from the AGTF are expected to be provided over a 10-year period and will be used alongside the AfDB’s own resources to finance eligible sovereign and non-sovereign guaranteed development projects in Africa.

AfDB, World Bank developing a shared dynamic: Makhtar Diop

22-May-2014 - Africa is at a crossroads. In 50 years, the African Development Bank has become a leading player in development. On the occasion of his participation in the AfDB Annual Meetings in Kigali, World Bank Vice-President Makhtar Diop hailed Africa's strong performance under the leadership of the AfDB over past decades. Diop also praised relations between his institution and the AfDB. "I am happy about the cooperation between the AfDB and the World Bank, in the convergence of our development activities and policies for this continent," he said. "We...

For a prosperous Africa in the next half a century, its growth story must go along with peace: Kabagambe

22-May-2014 - Given its remarkable growth in the past decades, Africa has been hailed as the next frontier for opportunity and a potential global growth pole. Political conflicts have declined, economic growth is robust and economic management, governance and political stability have improved.

AfDB announces a 60 billion CFA francs loan to fund water and sanitation project in Senegal

22-May-2014 - On 22 May 2014, the African Development Bank (AfDB) announced a loan of 60 billion CFA francs (approximately US $127 million) to Senegal for a water and sanitation project. The aim of the project is to make the sector more viable and improve socio-economic conditions for the Senegalese population.

To transform Africa, leaders need to do what they say

22-May-2014 - "The learnings are legion and the lessons drawn abundant. So what shall we do with all this? We must act to provide the missing practical link between what we have diagnosed and what we have to do. Otherwise, Africa will still be there in fifty years' time thinking about what it has to do to achieve ‘The Africa we want’, the central theme of the discussion."

President Kagame officially opens AfDB 2014 Annual Meetings, commends Bank for its development work in Africa

22-May-2014 - Rwanda’s President, Paul Kagame, officially opened the African Development Bank’s Annual Meeting on Thursday, May 22, 2014 in Kigali, commending the Bank for its huge contributions to Africa’s development.

Remittances, up by 5%, reach US $65 billion: AfDB Annual Report

22-May-2014 - 22/05/2014 Share| AfDB Annual Report 2013 Despite the financial crisis, remittances from the diaspora and foreign direct investment (FDI) to Africa have continued, with relatively large volumes in recent years.