Press Releases
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AfDB approves first Guarantee of Risk Management Product
13-Jul-2015 - The African Development Bank (AfDB) has approved its first Partial Credit Guarantee of risk management product. The Financial Sector Development Department, led by Stefan Nalletamby, has embarked on a groundbreaking operation that will result in the institution’s first guarantee to cover the exchange risk on foreign borrowing.AfDB approves a €100-million Soft Commodity Finance Facility for Sucden Côte d’Ivoire
10-Jul-2015 - The Board of Directors of the African Development Bank (AfDB) approved on Friday, July 10, 2015 a two-year €100-million Soft Commodity Finance Facility for Sucres & Denrées Côte d’Ivoire (Sucden CI), a wholly owned subsidiary of Sucden SA in France. This facility will help Sucden CI to expand its pre-financing arrangements with cooperatives and local suppliers in the cocoa sector in Côte d’Ivoire.AfDB along with other MDBs and IDFC have developed common principles for adaptation finance tracking
10-Jul-2015 - The world’s leading development finance institutions have taken an important step forward in tracking more consistently the flows of finance that help countries and people deal with the effects of climate change. The six large multilateral development banks (MDBs) and the International Development Finance Club (IDFC), a network of national, regional and international development banks, have agreed on a common set of principles to track financial commitments that help countries prepare for and build resilience to the impacts of climate change.
International Financial Institutions announce $400 billion to achieve Sustainable Development Goals
10-Jul-2015 - The multilateral development banks (MDBs) and International Monetary Fund (IMF) on Friday, July 10 signaled plans to extend more than $400 billion in financing over the next three years and vowed to work more closely with private and public sector partners to help mobilize the resources needed to meet the historic challenge of achieving the Sustainable Development Goals (SDGs).AfDB supports growth potential of African midcap private sector through AfricInvest Fund III
10-Jul-2015 - The Board of Directors of the African Development Bank (AfDB) approved on Wednesday, July 8, 2015, an equity investment of €20 million to the AfricInvest Fund III. Among the well-established and impactful African private equity funds, AfricInvest is one of the longest standing and successful funds. AfricInvest Fund III is targeting €200 million to invest in midcap companies to transform them into regional champions.AfDB takes leading role in raising funds for AFIG Fund-II, A Multinational Private Equity Fund
10-Jul-2015 - The Board of Directors of the African Development Bank (AfDB) approved on Wednesday, July 8, 2015 an equity investment of up to USD 45 million in Atlantic Coast Regional Fund LLC II (or “AFIG Fund II”), a 10-year USD 300 million multi-sector private equity fund that focuses on West, Central and East Africa, including transitional states and low/mid-income countries in that region. AFIG Fund-II is managed by the Advanced Finance and Investment Group (“AFIG Funds”), a Mauritius-registered limited liability company headquartered in Dakar, Senegal.AfDB Board approves African Natural Resources Center Strategy for 2015-2020
10-Jul-2015 - On July 10, 2015, the Board of Directors of the African Development Bank approved the six-year Strategy of the African Natural Resources Center (ANRC). The Strategy is intended to operationalize the Center by spelling out the Center’s strategic approach to assisting governments in their management of the opportunities and challenges of natural resources management (NRM).AfDB approves €16.7 million to improve electricity access in Guinea Bissau’s capital
09-Jul-2015 - The African Development Bank (AfDB) Group announced on Wednesday, June 8 the approval of €16.7 million (a €9-million loan and a €7.7-million grant) in financing toward a program which aims to strengthen the electricity distribution network in Guinea Bissau’s capital by rehabilitating the facilities of 31,000 existing subscribers; connecting 10,500 new subscribers; and improving the commercial management and governance of the public utility, the National Electricity and Water Corporation (company named EAGB).AfDB invests ZAR 4.5 billion in Development Bank of Namibia
09-Jul-2015 - The Board of Directors of the African Development Bank (AfDB) approved on Thursday, July 9, 2015 a line of credit amounting to ZAR 4.5 billion (about US $450 million) to Development Bank of Namibia (DBN) to finance projects in key priority sectors in the country including infrastructure, manufacturing, logistics and tourism.Maroc : 112,5 millions $ de la BAD pour une économie plus compétitive
08-Jul-2015 - Le Conseil d’administration de la Banque africaine de développement (BAD) a approuvé, le 8 juillet 2015 à Abidjan, un prêt de 112,5 millions de dollars EU, destiné à soutenir le programme d’appui à la compétitivité de l’économie marocaine (PACEM).SEFA doubled its grant portfolio to small- to medium- sized clean energy projects in 2014: report
06-Jul-2015 - The Sustainable Energy Fund for Africa (SEFA) announced on June 11 that it more than doubled its project portfolio last year, with commitments of USD 6.5 million, for 10 new projects all over the continent during the launch of its 2014 Annual Report.African Development Bank Group approves debt relief for Chad
03-Jul-2015 - The Boards of the African Development Bank Group (AfDB) on Wednesday, July 1, 2015 approved debt relief for the Republic of Chad under the Enhanced Heavily Indebted Poor Country (HIPC) initiative in the amount of US $37 million (at end 2000 Net Present Value terms, or approximately US $66.04 million, in nominal terms). This follows a joint assessment of the country in April 2015 by the IMF and World Bank as having attained the HIPC ‘Completion Point’.Skills that lead to jobs: AfDB provides US $62 million to support Technical and Vocational Education in Kenya
03-Jul-2015 - The Executive Board of Directors of the African Development Bank Group (AfDB) on Wednesday, July 1, 2015 approved a US $62-million loan to finance the second phase of Kenya’s Support to Technical Vocational Education and Training (TVET) for Relevant Skills Development project. “Kenya is experiencing a skills gap, mainly for technicians and artisans. This project will play an important role in supporting the emerging oil, gas and mining industry, which intends to employ between 42,000 and 98,000 people over the next 10 years,” said Sunita...The African Water Facility catalyses the development of waste management businesses to improve sanitation services in Arba Minch, Ethiopia
02-Jul-2015 - The African Water Facility (AWF) announced on Wednesday, July 1, 2015 that it is providing a €1.2-million grant to the Government of Ethiopia to improve sanitation and faecal waste management in Arba Minch. The project will benefit over 21,000 people who will have access to improved toilet facilities. It will also boost local agriculture through the provision of new and affordable fertiliser.AfDB approves US $22.5-million to improve investment climate and forest governance in Congo
01-Jul-2015 - The Board of Directors of the African Development Bank Group (AfDB) on Wednesday, July 1, 2015 approved a US $22.5-million loan to the Republic of Congo to help finance the country’s Investment Climate and Forest Governance Support Project (PACIGOF). The project aims to promote robust and inclusive growth by improving the business climate and diversifying the Congolese economy. It will strengthen the capacity of private sector support institutions and promote private initiative; as well as improve forest/timber sector governance.
Côte d’Ivoire’s President launches West African Energy Leaders Group
30-Jun-2015 - Côte d’Ivoire’s President Alassane Ouattara headed a top-level line-up of political and business leaders on Tuesday, June 30 in Abidjan to launch the African Energy Leaders Group (AELG) in West Africa, with concrete plans to drive sector reforms and a pipeline of bankable investment projects for sustainable energy access across the region.