Press Releases
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African nations join front-runners in ratifying Paris Agreement on climate change
03-Oct-2016 - At the United Nations General Assembly in New York on September 21, 2016, nine African nations deposited their articles for ratification of the global Paris Agreement on climate change, cementing their commitment to a climate-smart development path, and helping the world draw closer to making the Agreement a global reality. Following the ceremony, Mali also filed its ratification papers on September 28, 2016.AfDB issues 0.125% EUR 750 Million Global Benchmark due 7 October 2026
03-Oct-2016 - On Friday, 30th September 2016, African Development Bank (AfDB), rated Aaa (Moody’s) / AAA (S&P) / AAA (Fitch), successfully launched and priced its inaugural €750mm 10-year EUR benchmark transaction due 7 October 2026. AfDB decided to launch its debut EUR transaction to fulfil its EUR denominated needs and the 10-year transaction will serve as an anchor point to build out a full EUR curve over time. Barclays, Goldman Sachs International and SG CIB were mandated as joint lead managers on the transaction.Towards enhancing the legal capacity of African government officials
30-Sep-2016 - “The challenges many African governments face in negotiations are made worse by the interdependent nature of government systems which requires targeted skills in specified sectors complemented by better coordination when it comes to negotiating transactions for governments. Also, some governments are in a difficult position because they are stuck with poorly negotiated contracts. How should governments deal with agreements that have no spill over effect of investment?Studies on West African corridors highlight improved performance and need for short term high impact projects to consolidate gains
30-Sep-2016 - Results from a performance analysis study, conducted on three West African corridors – involving consultation with actors such as countries, customs, corridor management organisations, transporters, etc., were unveiled at a regional coordination meeting convened, today, in Abidjan by the Economic Community of West African States (ECOWAS), the African Development Bank (AfDB) and the ATWA project.The Bank Group approves agriculture and forestry sector risk participations
29-Sep-2016 - The Board of Directors of the African Development Fund (ADF), the concessional arm of the African Development Bank Group (AfDB) on Wednesday, September 28, 2016 approved four agriculture and forestry sector risk participations amounting to US $62 million under its Private Sector Credit Enhancement Facility (PSF).
Accra Urban Transport Project to address the challenges of a rapidly growing city
29-Sep-2016 - On September 28, 2016, the Board of Directors of the African Development Bank Group (AfDB) approved a USD 83.9 million (UA 60 million) loan for the Accra Urban Transport Project to contribute to integrated transport and urban development solutions in the Greater Accra Region in Ghana. The loan will finance a modern 3-tier highway interchange at Pokuase and 10 kilometres of interconnected urban roads, facilitating the movement of people and the transportation of goods in a rapidly developing industrial zone. The infrastructure will be...
Nigerian Economic Society awards Fellowship to AfDB President
28-Sep-2016 - The President of the African Development Bank, Akinwumi Adesina, has urged Nigerian economists to provide their Government with knowledge tools to tackle and overcome the country’s recession. Adesina, who is on a three-day official visit to the country – the first since he took office as the first Nigerian President of the AfDB in September 2015 – made the call on Tuesday, September 27, 2016 in a vote of thanks following his induction into the Fellowship of the Nigerian Economic Society (NES)AfDB discusses its strategy for Africa’s agricultural transformation
28-Sep-2016 - The African Development Bank’s Department for Agriculture and Agro-industry launched “Feed Africa: A Strategy for Agricultural Transformation in Africa 2016-2025” on September 19, 2016, at its headquarters in Abidjan, Côte d’Ivoire. The event brought together participants from the public sector including the Minister of Agriculture for Côte d’Ivoire, the Ambassador of Mali, a representative from the Ethiopian Embassy, members of international development institutions, and the private sector.
Abidjan-Lagos Corridor Coordination Meeting ends with calls for accelerated implementation and recognition of challenges ahead
28-Sep-2016 - A regional corridor meeting, held in Abidjan, on the Abidjan-Lagos Corridor concluded Monday with calls for renewed commitment, accelerated implementation while also recognising the challenges ahead to ensure improved efficiency on the corridor. The one-day meeting, convened by the African Development Bank (AfDB), brought together all parties involved in the Abidjan-Lagos Corridor, to encourage better donor coordination along the corridor, share views, discuss challenges, opportunities and the strategy going forward.
AfDB President Adesina concludes first official visit to Nigeria
28-Sep-2016 - Akinwumi Adesina, President of the African Development Bank Group, completed a three-day official visit to Nigeria on Wednesday, reaffirming the Bank's strong partnership with one of his biggest shareholders and clients, as the country struggles with the impact of an economic recession.AfDB approves US $310 million Trade Facilitation Loan for Ecobank Transnational Incorporated
27-Sep-2016 - The Board of Directors of the African Development Bank (AfDB) approved on Wednesday, September 21, 2016, in Abidjan, a US $310 million trade finance loan for Ecobank Transnational Incorporated, parent company of the Ecobank Group. Through this facility the AfDB will provide critical trade finance funding to support economies in which Ecobank is present.AfDB in talks with CSOs on Africa’s transformative agenda
27-Sep-2016 - The African Development Bank’s consultations with Civil Society Organisations (CSOs) in the Central Africa region are currently underway in Yaoundé, Cameroun. The September 26-28, 2016 discussions aim at enhancing cooperation between the two at regional and country levels in order to effectively support the Bank’s Regional Member Countries in delivering development programs.Ghana wins US $24 million to restore and expand sustainable forests through innovative public-private partnership
26-Sep-2016 - Ghana received approval on Thursday, September 22, 2016 from the African Development Bank (AfDB) for a project to restore degraded forest reserves and double a sustainable forest plantation through a first-of-its-kind Public-Private Partnership (PPP) in its forest sector.BAD-Guinée Bissau : Revue annuelle conjointe de la coopération
26-Sep-2016 - Le Groupe de la Banque africaine de développement (BAD) et le Gouvernement de la Guinée Bissau, ont procédé, le 19 septembre 2016 à Bissau, à la revue annuelle conjointe de la coopération entre le pays et l’institution.
MDG Transition Report: Reliable statistics and integrated policy approach key to successful SDG and Agenda 2063 implementation
26-Sep-2016 - African countries will need better data, statistics, and policy coordination to ensure successful implementation of the Sustainable Development Goals (SDGs) and congruence with the African Union’s Agenda 2063.AfDB President begins first official visit to Nigeria
26-Sep-2016 - Akinwumi Adesina, President of the African Development Bank Group (AfDB), started his first official visit in Nigeria on Monday with an interactive session with the Government’s economic team chaired by Vice-President Yemi Osinbajo. The session focused on how the Bank can help the country overcome it current recession.ALSF hosts training on Production Sharing Agreements for Somalia government officials
26-Sep-2016 - Somalia’s offshore potential oil and gas reserves has garnered the attention of many international oil companies. The potential of these reserves, if managed well, will provide consistent revenue streams that could catalyse the economic development of Somalia.
Adesina stresses need for Nigeria to incentivize its way out of recession
26-Sep-2016 - Akinwumi Adesina, President of the African Development Bank (AfDB), stressed the need Monday for Nigeria to put in place the right incentives to boost private investment and revive growth. He also reassured authorities of the Bank's unwavering support during these difficult times.
Leaders stress support for creating decent employment for youth in Africa
26-Sep-2016 - Leaders on Tuesday expressed the need for African countries to urgently embark on programs to create decent job opportunities for the youth on the continent. Speaking in New York in a high-level side event organized by the New Partnership for Africa’s Development (NEPAD) on the sidelines of the United Nations General Assembly, the leaders concurred that lack of decent employment opportunities for African youth was a recipe for disaster and that African governments needed to act quickly avert a crisis in the continent.