Press Releases

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Egypt: African Development Bank approves $22 million to expand leasing financing to corporates and SMEs

29-Jan-2020 - The Board of Directors of the African Development Bank  on Wednesday approved a $22 million Senior Loan to help Egypt’s Corporate Leasing Company (Corplease) expand its operations in the North African country. The decision signaled confidence in a burgeoning local market and in the Egyptian economy as a whole. The Bank will mobilize $7 million of the $22 million from the Africa Growing Together Fund (AGTF), a co-financing fund, established with the People’s Bank of China.

‘Agriculture is the most important business in the world,’ African Development Bank President Akinwumi Adesina tells students

29-Jan-2020 - African Development Bank President Akinwumi Adesina reminded students of the important role they have to play in the continent’s economic development, as he was conferred with an honorary doctorate in his homeland. The Doctorate of Science was awarded by the Federal University of Agriculture in Abeokuta, Nigeria, on Tuesday, in honor of Adesina’s work in agriculture and food security across the continent.

Africa Fertilizer Financing Mechanism Governing Council calls for more investments in Africa’s fertilizer value chain

28-Jan-2020 - The Africa Fertilizer Financing Mechanism’s Governing Council closed its eighth meeting with a call for increased investment to boost agricultural yields and build the industry across the continent.

The United Kingdom reaffirms its commitment to Africa’s economic transformation

28-Jan-2020 - The United Kingdom is the top donor to the African Development Fund (ADF), the Bank’s concessional lending arm for its next three-year cycle, ADF-15 (2020 – 2022), a position it has held for the last three replenishments.

La Banque africaine de développement évalue son action en République de Guinée (Conakry) et présente ses perspectives pour 2020

28-Jan-2020 - QUOI ? Conférence de presse sur le bilan des activités 2019 et les perspectives 2020 QUI ? La Banque africaine de développement QUAND ? Mercredi 19 février 2020 à 9h OÙ ? Bureau Pays Guinée – Cité des Nations, Villas n°3 et n°4, Boulbinet, Kaloum.  

AfDB and ICRC meet to discuss implementation of new impactful partnership

27-Jan-2020 - The African Development Bank held talks with International Committee of the Red Cross (ICRC) Vice-President Gilles Carbonnier at the Bank’s headquarters in Abidjan on furthering their shared development goals. The main purpose of the meeting, held on 20 January, was to discuss collaboration between the institutions and share the progress made since the signing of a Bank-ICRC memorandum of understanding to explore partnership opportunities.

Zimbabwe: African Development Bank Group approves grant for disaster risk management training

23-Jan-2020 - The Board of the African Development Fund (ADF) on Wednesday approved a $685,000 grant to strengthen Zimbabwe’s capacity to manage disaster risks, including droughts, floods and tropical cyclones, through the Bank’s Africa Disaster Risk Financing (ADRiFi) programme.

African Development Bank President Akinwumi Adesina opens trading on London Stock Exchange

23-Jan-2020 - Don Robert, Chairman of London Stock Exchange Group, welcomed the president of the African Development Bank to open markets for trading at London Stock Exchange on Wednesday 22 January. The reception in London followed the African Development Bank’s Africa Investment Forum, held in November last year. The innovative market-place for accelerating investment into the continent is playing a valuable role in convening investors and corporates and removing the bottlenecks to investments and enabling a free flow of long-term capital.

Ride the wave of the African Continental Free Trade Area, African Development Bank president Adesina Urges UK investors

21-Jan-2020 - Africa is on the cusp of unmatched economic transformation, and the UK must engage in a “partnership of change,” African Development Bank President Akinwumi Adesina said Tuesday in a keynote address at a UK Parliamentary Symposium. “The Africa of the 21st century is very different. The Africa of the 21st century is new and more confident,” he said. The Symposium was co-organized by the All-Party Parliamentary Group for Africa with the Royal African Society, Oxford Brookes University, and the Trade Justice Network under the theme UK-Africa...

ACCF grants $4.7m to support projects in African countries

21-Jan-2020 - The Africa Climate Change Fund (ACCF) recently approved seven new project proposals amounting to around $4.7 million.

British Prime Minister, African leaders urge investors to accelerate economic role on the continent

20-Jan-2020 - UK companies must leap at the chance to deepen economic ties with Africa, a continent with unmatched investment opportunities, several African leaders said at a high-level panel. At an oversubscribed opening ceremony for the 2020 UK-Africa Investment Summit, Monday, attended by dignitaries and delegates from 16 African countries, including President El Sisi of Egypt, British Prime Minister Boris Johnson made the case for bigger investments in Africa and called for increased and renewed partnership  between  the UK and Africa.

African Development Bank's Akinwumi Adesina heads to UK-Africa investment summit: Revitalizing economic ties top of agenda

17-Jan-2020 - New opportunities for bi-lateral trade and increasing UK investor appetite in Africa will be the main focus of the UK-Africa summit, convened by Prime Minister Boris Johnson, on January 20th. African Development Bank President Akinwumi Adesina is expected in London for the milestone investment summit aimed at forging new partnerships under the theme: ‘Partners for prosperity.’

The African Development Bank signs €6 million grant for São Tomé and Principe

16-Jan-2020 - The African Development Bank on Wednesday signed a €6.18 million grant in budgetary support to the Democratic Republic of São Tomé and Principe. The agreement was signed at the Bank’s headquarters in Abidjan, Côte d'Ivoire, by Osvaldo Vaz, Minister of Planning, Finance and the Blue Economy of São Tomé and Principe and by Khaled Sherif, Vice President for regional development, integration and service delivery. The Bank approved the budgetary support to São Tomé and Principe on 8 January 2020 under its programme to support economic reform and...

République démocratique du Congo : la Banque africaine de développement discute avec le gouvernement du développement rapide du site Inga et du lancement de Inga 3

15-Jan-2020 - « Nous venons pour réaffirmer notre partenariat avec la Banque africaine de développement et son leadership dans la mise en œuvre effective et rapide du projet Inga 3 », a déclaré, lundi 13 janvier à Abidjan, Sele Yalaghuli, ministre des Finances de la République démocratique du Congo (RDC).

African Development Fund Board approves $37.2 million in credit risk participations by the Private Sector Credit Enhancement Facility for non-sovereign operations in Kenya, Sudan and Senegal

15-Jan-2020 - The Board of Directors of the African Development Fund (ADF), the concessional window of the African Development Bank Group, approved on January 15, 2020, credit risk participations by the Private Sector Credit Enhancement Facility (PSF) for projects in Kenya, Sudan and Senegal. The agreement covers operations cumulatively valued at $37.2 million and includes a corporate loan to support an East African agribusiness firm’s domestic and regional expansion, and two lines of credit targeting SME borrowers.

African Development Bank allocates €1.2 million to train policymakers in boosting mining revenues

15-Jan-2020 - The African Development Bank has allocated a €1.2 million grant to provide training to help resource-rich countries improve their mining revenues. The Bank’s Regional Development, Integration and Business Delivery Complex approved the first-of its kind grant from the Transitional Support Facility for the project on Financial Modelling for the Extractive Sector (FIMES) in December. The project will be implemented in Africa’s transitional countries from 2020 to 2022.

African Development Bank unveils Policy on Non-Sovereign Operations

13-Jan-2020 - The African Development Bank Group on Monday organized a workshop to share its approach to private sector funding through its new policy on Non-Sovereign Operations (NSO Policy). The policy provides the general framework and modalities required for Bank lending and investment without sovereign guarantee to private and public entities that meet specific eligibility requirements on non-concessional terms.

African Development Bank signs five-year agreement to use International Federation of Consulting Engineer (FIDIC) standard contracts

13-Jan-2020 - The International Federation of Consulting Engineers (FIDIC) has secured a major agreement with the African Development Bank that will see the international funding organisation include the use of seven FIDIC standard contracts for the next five years.

African Development Bank approves €8 million technical assistance grant to support preparation of Ruzizi IV Hydro Power Project in the Great Lakes region

13-Jan-2020 - The Board of Directors of African Development Bank Group has approved an €8 million grant drawn from the European Union’s Africa Investment Platform (EU-AIP) to support the preparation of the Ruzizi IV Hydropower Project. The plant will be situated on the Ruzizi River between Rwanda and the Democratic Republic of Congo and will supply electricity to the DRC, Burundi and Rwanda.

African Development Bank sponsored Off-Grid Energy Access Fund reaches final equity close with partner contributions

10-Jan-2020 - The Facility for Energy Inclusion’s Off-Grid Energy Access Fund (FEI OGEF) has reached a final equity close with $59 million in committed equity capital and $36 million debt facilities, to support innovative, off-grid energy access companies.