Press Releases
Displaying 1 - 20 of 5662
African Development Bank meets to chart a better future for the continent with reform of global financial architecture
25-May-2024 - The African Development Bank Group’s upcoming Annual Meetings in Nairobi are a golden opportunity to showcase the Bank’s successes as a catalyst for Africa’s transformation. Over five days the Bank’s management and governors will meet to exchange ideas and forge new relationships with a range of government and private sector partners on the road to creating a more inclusive, sustainable, and resilient Africa.
Niger: private sector asks African Development Bank for massive investments to boost country’s economy
24-May-2024 - The private sector in Niger, the vast West African Sahelian country that has faced a years-long security crisis, is calling on the African Development Bank Group to invest massively in the country to further boost Africa’s highest-performing economy in 2024.
The African Development Bank strengthens capacities of civil society organisations to access Africa Climate Change Fund resources
24-May-2024 - The first in a series of training sessions for African civil society organisations (CSOs) on accessing resources of the Africa Climate Change Fund (ACCF) was held on 17 May 2024. The online session was organised by the African Development Bank (AfDB), which established the fund in 2014. The session was very well attended. More than 1400 CSOs from all over Africa attended, demonstrating the strong commitment of African citizens to climate action.
Mauritius: the African Development Bank grants $240 million loan to support economic diversification and competitiveness
23-May-2024 - The Board of Directors of the African Development Bank Group approved a loan of $240 million to Mauritius in Abidjan on 22 May 2024 to implement the second phase of the Economic Competitiveness and Resilience Support Program.
Ethiopia: African Development Bank’s Sustainable Energy Fund for Africa to extend $8 million for groundbreaking mini-grid pilot programme
22-May-2024 - The African Development Bank Group’s Board of Directors has approved $8 million to support the rollout of a pioneering pilot mini-grid programme with potential Africa-wide benefits. The funding, provided by the Bank-managed Sustainable Energy Fund for Africa (SEFA)
African Development Bank reaffirms support for Sudan amid civil conflict
22-May-2024 - The African Development Bank has reassured Sudan of its continued support in providing humanitarian and economic assistance, while addressing other priority needs amid the country’s ongoing civil conflict. Rufus N. Darkortey, the Bank’s Executive Director representing The Gambia, Ghana, Liberia, Sierra Leone, and Sudan, reaffirmed this commitment during discussions with Sudan’s Finance Minister and Governor of the African Development Bank, Dr Gebreil Ibrahim Mohamed Fediel.
African Development Bank at the 10th World Water Forum: showcasing commitment to facilitating access to water and sanitation resources in Africa
22-May-2024 - The African Development Bank Group will highlight the importance of preparation, financing and coordination for water, sanitation and hygiene initiatives across Africa at the 10th World Water Forum in Bali, Indonesia. The Bank and the African Water Facility’s delegations to the world’s largest international gathering of water sector partners will share insights, strategies and stories of sustainable development successes from the continent.
Rwanda: Significant results midway through the implementation of the African Development Bank country strategy 2022-26
22-May-2024 - The Board of Directors of the African Development Bank Group approved the mid-term review of the Country Strategy Paper (CSP) 2022-26 for Rwanda in Abidjan on 21 May 2024. The progress during the first half of the implementation period has been significant.
African Development Bank invests $1.44 billion to support infrastructure development in Nigeria
22-May-2024 - The African Development Bank has invested $1.44 billion to support the development of energy and power, transport, water, and sanitation infrastructure in Nigeria. The Bank’s Nigeria Country Department, Director General Lamin Barrow disclosed this at the Nasarawa Investment Summit 2024, held from 15 – 16 May in Lafia, the Nasarawa State capital. The event was attended by local and foreign investors, representatives of the private sector, and senior government officials.
Ethiopia: African Development Fund approves nearly $43 million to boost access to finance and non-financial services for Ethiopian Youth and Women-led MSMEs
22-May-2024 - The Board of Directors of the African Development Fund – the African Development Bank Group’s concessional financing window – approved a grant of $42.86 million to Ethiopia on 22 May 2024 to fund the implementation of the Agri-MSMEs development for jobs Program. Aimed at boosting the growth and productivity of youth and women-led MSMEs in Ethiopia, the program focuses on improving access to finance, providing business development services, and strengthening the entrepreneurship enabling environment.
Pledges for a stronger Africa Fertilizer Financing Mechanism to increase food production in Africa
21-May-2024 - African heads of state have committed to supporting the full operationalization of the Africa Fertilizer Financing Mechanism, a step that will empower it to invest in yield-boosting technologies and soil health initiatives, finance infrastructure and logistics to enhance fertilizer availability and market access for Africa’s farmers.
African Development Bank’s Adesina highlights Africa as the world’s best investment destination at BADEA’s 50th anniversary
20-May-2024 - Africa’s human, land, mineral resource and cross-border trade endowments combine to make it the world’s most promising investment destination, now and well into the future, African Development Bank Group President Dr Akinwumi Adesina said.
Congo lauds partnership with African Development Bank, seeks enhanced climate funding
17-May-2024 - The Congolese government has lauded the African Development Bank Group for its vital support to the nation’s development, particularly in infrastructure, where the Bank stands as the country’s key partner. Government representatives gave the commendation during a three-day visit by the African Development Bank Group’s Vice-President for Regional Development, Integration and Business Delivery, Marie-Laure Akin-Olugbade, during which she engaged with several ministers on political dialogue and support for the Bank’s operations.
Benin: a government and African Development Bank project launched to boost the fisheries and aquaculture sector
17-May-2024 - Benin and the African Development Bank officially launched the Project to Promote Sustainable Aquaculture and the Competitiveness of Fisheries Value Chains in Cotonou on 15 May 2024, to increase the contribution of fisheries and aquaculture sector to food security and local economies.
African Development Bank launches inaugural EUR 500 million 2.875% short 4-year Green Benchmark due March 2028
16-May-2024 - On Wednesday 15 May 2024, the African Development Bank (“AfDB”), rated Aaa/AAA/AAA (Moody’s/S&P/Fitch) successfully launched and priced an inaugural EUR 500 million short 4-year Green Benchmark, the second green bond issued under the Bank’s new Sustainable Bond Framework, established in September 2023. The bond due March 2028 pays a coupon of 2.875% with a re-offer yield of 2.947%.
Niger’s Civil society wants more involvement in dialogue on African Development Bank initiatives
16-May-2024 - Niger's civil society has informed Marie-Laure Akin-Olugbade, the Vice-President for the Regional Development, Integration and Business Delivery Complex at the African Development Bank Group, of its wish to be more involved in discussions relating to the Bank's operations in the country.
African Development Bank and InterAmerican Development Bank Welcome International Monetary Fund’s (IMF) Executive Board’s Decision Approving Use of SDRs for Hybrid Capital Instruments
15-May-2024 - The African Development Bank Group (AfDB) and the Inter-American Development Bank (IDB) today welcomed the announcement by the International Monetary Fund’s Executive Board approving hybrid capital as an eligible instrument for channeling of Special Drawing Rights (SDRs).
African Development Bank commits $2 billion as it leads the way at landmark summit for access to clean cooking in Africa
15-May-2024 - The African Development Bank Group pledged $2 billion over 10 years towards clean cooking solutions in Africa—a major step along the road to saving the lives of 600,000 mainly women and children each year. Speaking at a landmark summit on Clean Cooking in Africa held yesterday in Paris, the Bank Group’s President Dr Akinwumi Adesina, said the institution would now commit 20 per cent of all its financing of energy projects towards promoting safe alternatives to cooking with charcoal, wood and biomass.
Malawi: African Development Fund commits $22.7 million grant to bolster agricultural productivity and climate resilience
15-May-2024 - The Board of Directors of the African Development Fund on 15 May 2024 approved a $22.7 million budget support grant for Malawi to implement a national program to reform the agricultural sector and strengthen resilience to climate change. The Agricultural Productivity and Marketing Program is designed to catalyze economic growth and ensure food security within Malawi. It also entails the optimization of efficiency, transparency, and accountability in agricultural sector spending, alongside reinforcing disaster preparedness and climate...