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AfDB Grants US $3.2 Million for Technical Assistance to Sudan for PRSP Preparation
03-Oct-2013 - On Thursday October 3, 2013, the African Development Bank (AfDB) and the Government of Sudan signed a Protocol of Agreement for Technical Assistance for the preparation of a full Poverty Reduction Strategy Paper (PRSP). The grant is financed with UA 1.97 million (US $3.2 million) from Pillar III of the Fragile States Facility.
Red Cross Red Crescent and AfDB enter pan-African partnership on food security and disaster risk reduction
03-Oct-2013 - The International Federation of Red Cross and Red Crescent Societies (IFRC) and the African Development Bank (AfDB) signed a Memorandum of Understanding (MoU) on Thursday, October 3 in Tunis establishing a partnership of cooperation, aimed at providing assistance to improve the lives of the most vulnerable in Africa.
AfDB, largest financier of clean energy on the African continent with $4.3 billion in energy projects
03-Oct-2013 - Between 2011 and 2012, the African Development Bank (AfDB) increased by a staggering 92% its investment in clean energy in Africa, according to a new report by Bloomberg New Energy Finance. The publication looks at the clean energy transactions of 26 national and multilateral development banks from 2007 to 2012.AfDB Invests US $70 Million in PTA Bank to Boost Trade and Economic Growth in Africa
02-Oct-2013 - The Board of Directors of the African Development Bank (AfDB) approved on Wednesday, October 2, a financial package consisting of US $20 million in additional equity and a US $50-million line of credit (LOC) to finance projects in the Eastern and Southern African Trade and Development Bank (PTA Bank) member states. This financial package will allow PTA Bank to finance a mix of small- and medium- scale enterprises as well as regional infrastructure projects.First ADF partial risk guarantee approved in Kenya for largest African wind power project
02-Oct-2013 - The Board of the African Development Bank (AfDB) approved the Lake Turkana Transmission Line Delay Partial Risk Guarantee for €20 million, the first of the African Development Fund’s Partial Risk Guarantees (ADF PRG). The ADF PRG is a risk mitigation instrument that covers private lenders and investors against the risk of a possible government failure to meet contractual obligations to a project.
Sierra Leone receives support for green growth with new AfDB report
02-Oct-2013 - Report explores challenges and opportunities of growth in a fragile stateGhana set to increase community engagement and transform its forestry sector with project awarded nearly $10 million
01-Oct-2013 - With African Development Bank (AfDB) support, Ghana has received $9.75 million approval from the Climate Investment Funds’ (CIF) Forest Investment Program (FIP) to undertake the Engaging Local Communities in REDD+/Enhancement of Carbon Stocks (ELCIR+) project.
Public-private partnerships promise a bright future for the African pharmaceutical industry
30-Sep-2013 - The African pharmaceutical sector is expected to grow tremendously in the coming years. The opportunity is such that public-private synergies are key to the development of the industry. These were the conclusions that emerged from the first African Pharmaceutical Summit, held on September 23 and 24 in Hammamet, Tunisia.
Participants Reaffirmed their Commitment to Africa at ADF 13th Replenishment
27-Sep-2013 - Participants in the African Development Fund have reaffirmed their commitment to supporting Africa’s continuing process of economic transformation, with a total replenishment amount of $7.3 billion for 2014 to 2016. Millions of Africans stand to benefit from improved energy supply, transport networks, water and sanitation, education and agricultural productivity.Zambia gets $38 million green light to increase climate-resilient growth in the Kafue Sub-Basin
27-Sep-2013 - With African Development Bank (AfDB) support, Zambia has received approval for a $38 million infusion of support from the Climate Investment Funds’ (CIF) Pilot Programme for Climate Resilience (PPCR) to undertake the Strengthening Climate Resilience in the Kafue Sub-Basin project.
AfDB and Made in Africa Foundation Launch Fundraising for Africa50 Infrastructure Fund
27-Sep-2013 - The African Development Bank and Made in Africa Foundation officially launched the fundraising for Africa50’s Project Development Vehicle on Thursday, September 26 at the NASDAQ Stock Exchange in New York City. The African Development Bank (AfDB) and Made in Africa Foundation (MIAF) have partnered to co-market initiatives that will catalyze funding for Africa’s largest infrastructure delivery vehicle created to-date, Africa50.AfDB prices a new 5-year US Dollar Global bond
26-Sep-2013 - This week, the African Development Bank priced a new USD 1 billion 5-year Global benchmark bond. This is AfDB’s second fixed-rate USD transaction of the year after having issued a 5-year in January.AfDB Approves US $43.27 Million for Sierra Leone’s Rural Water Supply and Sanitation Project
26-Sep-2013 - The Board of Directors of the African Development Bank (AfDB) Group met on Wednesday, September 18, 2013 in Tunis and approved US $43.27 million (UA 28.845 million) to finance Sierra Leone’s Rural Water Supply and Sanitation Project, which aims to increase access to water and sanitation in the rural areas of the country. The overall goal of the project is to contribute to the Sierra Leone’s Poverty Reduction Strategy Agenda for Prosperity and achievement of the water supply, sanitation and hygiene targets set out in the Millennium Development...Holding Excess Foreign Reserves Versus Infrastructure Finance: What Should Africa Do?
26-Sep-2013 - Financing infrastructure needs in Africa necessitates new thinking on financing mechanisms. Currently, there is a lively debate on the funding and use of foreign exchange (forex) reserves as one of the funding sources for financing infrastructure. Forex reserves have been viewed from different perspectives as monetary policy and debt intervention instruments and/or national assets for economic development.11th Asset and Liability Management and Multilateral Development Bank Risk Management Forum
26-Sep-2013 - The African Development Bank Group will be hosting the 2012 Asset and Liability Management and MDB Risk Management Forum in Tunis from September 27-28, 2012. The forum will be attended by delegates from several multilateral development banks and financial institutions, including:ADF-13 to be innovative, focused and strategic, says Bank President
25-Sep-2013 - The African Development Fund (ADF) and its donor-country partners opened on Wednesday, September 25 in Paris, the third and last round of the 13th replenishment of the ADF, the African Development Bank Group’s concessional window.High Level Panel on Fragile States calls for more resources for AfDB
25-Sep-2013 - Fragility and post-conflict situations, a matter of great concern for development institutions including the African Development Bank (AfDB), were central to discussions at its September 25-26 meeting in Paris on ADF-13 Replenishment. The Bank’s work through African Development Fund (ADF) is much appreciated by regional member countries, as indicated by representatives of Malawi, Côte d’Ivoire and Ghana. AfDB management intends to do more.Money transfers from Tunisians living abroad: an untapped goldmine
24-Sep-2013 - According to Chedly Ayari, Governor of the Central Bank of Tunisia (BCT), “Migrants are development stakeholders in their own right.” He reiterated this belief time and again at a workshop on migrant money transfers organized by the African Development Bank (AfDB), and held at the Central Bank in Tunis on June 19, 2013. 3.54 billion TND transferred to Tunisia in 2012