Press Releases

Displaying 1 - 50 of 4043

African Development Bank approves $1.5 million emergency grant to curb desert locusts ravaging East and Horn of Africa

02-Apr-2020 - The Board of Directors of the African Development Bank on Wednesday approved a $1.5 million emergency relief grant to assist nine countries in the East and Horn of Africa on the control of swarms of desert locusts that are threatening livelihoods and food security. The proposed assistance will be channeled to the Intergovernmental Authority on Development (IGAD), which has been mandated to mobilize resources on behalf of the African Union.

African Development Bank wins industry gong for pioneering 2019 social bond issue

01-Apr-2020 - The African Development Bank received on 30 March 2020 an award for its successful one billion Norwegian krone (NOK) social bond issued in 2019. This Environmental Finance 2020 bond award was given by an independent panel comprising 30 of the world’s largest green, social and sustainability bond investors.

African Development Bank approves $2 million emergency assistance for WHO-led measures to curb COVID-19 in Africa

01-Apr-2020 - The Board of Directors of the African Development Bank on Tuesday approved  $2 million in emergency assistance for the World Health Organization (WHO) to reinforce its capacity to help African countries contain the COVID-19 pandemic and mitigate its impacts. The grant, which is in response to an international appeal by the WHO, will be used by the world body to equip Regional Member Countries to prevent, rapidly detect, investigate, contain and manage detected cases of COVID-19.

Mozambique: Government and African Development Bank sign financing for Mueda-Negomano road phase II

31-Mar-2020 - The Government of Mozambique and the African Development Bank have signed a protocol agreement for a $34 million grant for the paving of the 35-km Nambungali-Roma road to facilitate trade and promote social inclusion of local communities. Mozambican Finance Minister Adriano Maleiane and Bank Country Representative, Pietro Toigo signed for their respective sides on 24 February. The works form part of the second phase of the Mueda - Negomano Road Project, which seeks to improve transport infrastructure between Mozambique and Tanzania.

São Tomé-et-Principe : la Banque africaine de développement fait un don de plus de 12 millions d’euros pour financer la transition énergétique

27-Mar-2020 - Le Conseil d’administration du Fonds africain de développement (FAD), le guichet de financement concessionnel du Groupe de la Banque africaine de développement, a approuvé, mercredi 25 mars à Abidjan, un don de 12,46 millions d’euros (10 millions d’Unités de compte) destiné à financer le Programme de transition énergétique et d’appui institutionnel (ETISP) à São Tomé-et-Principe.

African Development Bank launches record breaking $3 billion “Fight COVID-19” Social Bond

27-Mar-2020 - The African Development Bank (AAA) has raised an exceptional $3 billion in a three-year bond to help alleviate the economic and social impact the Covid-19 pandemic will have on livelihoods and Africa’s economies.  

Zimbabwe: African Development Bank approves $8.25 million loan to food producer Olivine Industries

27-Mar-2020 - The Board of Directors of the African Development Bank Group has approved a $8.25 million corporate loan to Olivine Industries Limited to support the company’s food production expansion plan in Zimbabwe. The Bank’s loan, approved on Wednesday, will enable the company to construct new processing plants for margarine and tomato sauce and install upgraded machinery with advanced technologies. Olivine plans to increase its domestic and regional production capacity and food supply.

Côte d’Ivoire : la Banque africaine de développement approuve un financement de 62 millions d’euros pour l’électrification de plus de 1300 localités rurales

27-Mar-2020 - Le Conseil d’administration de la Banque africaine de développement a approuvé, mercredi 25 mars, un prêt de 62,35 millions d’euros à la République de Côte d’Ivoire destiné au financement de la première phase du Projet de renforcement des ouvrages du système électrique et d’accès à l’électricité appelé « PROSER I ».

New dawn for Somalia: Arrears owed to the African Development Bank Group cleared

24-Mar-2020 - Arrears on loans owed by Somalia to the African Development Bank Group have been cleared following the payment in full of $122.55 million by the governments of the United Kingdom and the European Union, marking the end of sanctions and the resumption of full re-engagement between the Bank Group and the East African nation.  The long road to resolution of Somalia’s debt arrears began in 2014 and included the completion of three Staff Monitored Programs of the International Monetary Fund, and significant advances on a fourth program.

Côte d’Ivoire : une nouvelle génération formée à la pisciculture à Man, avec le soutien de la Banque africaine de développement

20-Mar-2020 - Une formation technique sur la pratique de la pisciculture a été dispensée à 35 jeunes ivoiriens du 12 au 14 mars derniers à Man, dans l’ouest de la Côte d’Ivoire, avec le soutien financier de la Banque africaine de développement. Cette formation s’est déroulée dans le cadre de la mise en œuvre de la composante Appui à l’autonomisation des femmes et des jeunes du Projet de renforcement des réseaux de transport et de distribution de l’électricité (PRETD) du District des Montagnes.

Seychelles: African Development Bank Supports Blue Economy with $800k FAPA grant

19-Mar-2020 - The African Development Bank has signed an $800,000 grant agreement with the government of Seychelles to support micro, small and medium enterprises (MSMEs) in its Blue Economy sector. The package will help Seychelles develop its marine biotechnology sector, strengthen the capacity of public institutions and private operators, create a knowledge platform on emerging business opportunities, and provide technical and financial training to MSMEs.

African Development Bank announces bold measures to curb coronavirus

18-Mar-2020 - The African Development Bank on Wednesday announced health and safety measures to help prevent the spread of the coronavirus in countries where it has a presence, including its headquarters in Abidjan. The measures include telecommuting, video conferencing in lieu of physical meetings, the suspension of visits to Bank buildings, and the cancelation of all travel, meetings, and conferences, until further notice.

African Development Bank to provide underserved communities in Nigeria with sustainable energy solutions

17-Mar-2020 - The African Development Bank and the Government of Nigeria have launched the National Electrification Project (NEP), to address critical energy access deficits by channeling private sector investments into mini grid and off-grid solutions. The project, which will be implemented by Nigeria’s Rural Electrification Agency, is a boost to efforts to achieve the target of universal energy access by 2030.

African Development Bank Debars BEULAH UNIVERSAL LINK RESOURCES LIMITED and BLUESTREAM SYSTEMS AND DEVICE LIMITED for Fraudulent Practices

17-Mar-2020 - The African Development Bank Group on 17 March 2020, announces the debarment of Beulah Universal Link Resources Limited for 36 months and Bluestream Systems and Device Limited for 12 months. Both companies are registered in Nigeria.

MFW4A: Call for essays on financial sector development

17-Mar-2020 - The Making Finance Work for Africa Partnership (MFW4A) invites researchers and students enrolled in an academic institution to submit an essay on the African financial sector. The call for essays aims to foster a better understanding of the issues challenging financial sector development in Africa and to gather thoughts, opinions and innovative ideas on how to develop the sector. Topics selected for this call are aligned with MFW4A’s priority themes, including:

Bénin : la Banque africaine de développement présente les résultats de l’étude sur l’environnement des affaires

16-Mar-2020 - La Banque africaine de développement a présenté les résultats d’une étude sur l’environnement des affaires au Bénin lors d’un atelier organisé, jeudi 12 mars 2020 à Cotonou, par son bureau de représentation.

Africa Fertilizer Financing Mechanism launches $2.2 mill project in Nigeria to boost fertilizer supply to 200,000 farmers

13-Mar-2020 - The Africa Fertilizer Financing Mechanism (AFFM) has kick-started a $2.2 million project to provide fertilizer suppliers in Nigeria with financial support to improve supply for 200,000 smallholder farmers. The trade credit guarantee project is AFFM’s first in the West African nation and will involve 10 fertilizer suppliers, 12 hub agro-dealers and 120 retail agro-dealers. The project will also train farmers in proper fertilizer use and other agricultural best practices.

Sierra Leone to count on African Development Bank to help build resilient economy, restore self-sufficiency in rice production

13-Mar-2020 - Sierra Leone will look to the African Development Bank to stimulate agribusiness development in the country with a focus on rice production, its president Maada Bio told a visiting delegation led by its president Akinwumi Adesina. Adesina began a two-day visit to Sierra Leone on Wednesday, during which he will hold meetings to discuss curbing malnutrition, creating skills and jobs for young people, rapidly scaling up economic diversification and restoring the country to self-sufficiency in rice production.

The African Development Bank revives key aquaculture project in western Cote d’Ivoire

13-Mar-2020 - The African Development Bank has revived an important aquaculture project in the Mountain District of western Cote d’Ivoire, and last week launched the women and youth component of the project to build electricity systems.

Mali : la Banque africaine de développement accorde plus de 32 milliards de francs CFA pour la construction de la « route de l’unité nationale », Bourem-Kidal

13-Mar-2020 - La Banque africaine de développement et le gouvernement du Mali ont signé, jeudi 05 mars dernier à Kidal, un accord de financement pour la construction de la route Bourem-Kidal, longue de 285,83 Km et surnommée « route de l’unité nationale ». L’accord de financement portant sur 32,25 milliards de francs CFA a été signé par la responsable du bureau-pays de la Banque au Mali, Mme Haly Louise Djoussou-Lorng et le Premier ministre malien Boubou Cissé également ministre de l’Economie et des Finances.

La Banque africaine de développement entre au capital du fonds d’investissement Yeelen Financial Fund L.P.

12-Mar-2020 - Le Conseil d’administration de la Banque africaine de développement a approuvé, jeudi 11 mars à Abidjan, une prise de participation de 12 millions d’euros au capital du fonds Yeelen dédié au secteur financier.

Namibia: African Development Bank approves $121.7 million loan, Euro 3 million grant to support water and sanitation sector

12-Mar-2020 - The Board of Directors of the African Development Bank on Wednesday approved a $121.7 million loan (ZAR 1.893 billion) and Euro 3 million grant from the Rural Water Supply Sanitation Initiative Trust Fund to support Namibia’s “Water Sector Support Program”. The program will facilitate sustainable production and transfer of water resources to improve access to potable water and for agricultural and industrial use. It will also enhance sanitation in rural areas and enrich institutional capacity, sustainable management and utilization.

Le Congo et le Cameroun reliés par 300 km de route grâce à la Banque africaine de développement

12-Mar-2020 - Le président congolais, Denis Sassou Nguesso, a inauguré, vendredi 06 mars 2020, la route reliant la ville de Ketta au Congo au poste-frontière de Ntam au Cameroun. Longue de 300 km, cette route surnommée « route de l’intégration » a coûté 103 milliards de francs CFA préfinancée à 90% par la Banque africaine de développement.

La Banque africaine de développement a consacré plus du tiers de ses approbations au changement climatique en 2019

11-Mar-2020 - La Banque africaine de développement a consacré, en 2019, 36% de ses approbations, soit 3,6 milliards de dollars, au financement du changement climatique, dont plus de la moitié dédiée à l’adaptation des pays du continent à ce phénomène. Après la 21ème Conférence des parties sur le changement climatique (COP 21), organisée par les Nations unies en décembre 2015 à Paris, la Banque s’est dotée d’un Plan d’action pour le climat pour la période 2016-2020, donnant une place centrale au renforcement de la résilience climatique.

Namibia: African Development Bank approves $129.4 million loan to boost economic governance and competitiveness

11-Mar-2020 - The Board of Directors of the African Development Bank has approved a $129.4 million (ZAR 2.011 billion) loan to finance the Namibia Economic Governance and Competitiveness Support Programme, EGCSP.

Sudan: African Development Bank signs first private sector loan, DAL Group to receive up to $75 million

10-Mar-2020 - The African Development Bank has signed an agreement with DAL Group, one of Sudan’s largest conglomerates, for the provision of up to $75 million to improve food security and household incomes in the country. The agreement is the Bank’s first private sector loan to the East African nation. The agreement was signed on Thursday, 5 March at a ceremony held at the Bank’s Sudan Country Office by Dr. Jennifer Blanke, Bank Vice President for Agriculture, Human and Social Development representing the Bank, and DAL Group Chairman Osama Daoud Abdellatif.

Côte d’Ivoire: Mother-child hospital shows success of public-private partnerships

10-Mar-2020 - A cutting-edge hospital in the Abidjan suburb of Bingerville is reducing maternal mortality rates in the world’s largest cocoa producer, proving the promise of public-private partnerships. For the past two years, the mother-child hospital in Bingerville, founded by the foundation of Ivorian first lady Dominique Ouattara, has seen over 60,000 patients. On a visit to the hospital on Tuesday, Ouattara shared the hospital’s success with dignitaries.

Cameroon: African Development Bank Executive Directors visit pioneer member country with $3 billion project portfolio

09-Mar-2020 - A five-member delegation of African Development Bank Executive Directors has concluded a week-long fact-finding mission to Cameroon during which they met with the country’s Prime Minister and other senior officials. During the mission which began on 2 March 2020 in the capital, Yaoundé, the Executive Directors also held consultations with stakeholders, including private sector operators and development partners. They also toured Bank-financed projects.

Nigeria: Visiting Abia State Governor seeks partnership with African Development Bank to transform state into industrial hub

04-Mar-2020 - A thriving entrepreneurship industry and agricultural base in Nigeria’s Abia State are the foundation for the creation of a potentially viable industrial hub, its governor Okezie Ikpeazu told the African Development Bank Tuesday. Ikpeazu met with African Development Bank President Akinwumi Adesina at the Bank’s headquarters in Abidjan, Cote d’Ivoire to discuss investment for Abia to help boost job creation and enhance livelihoods.

African Development Bank trains 100 fashion and creative industry entrepreneurs during Fashionomics Africa Masterclass in Nairobi

04-Mar-2020 - The African Development Bank’s Fashionomics Africa initiative hosted 110 entrepreneurs from the textile, apparel and accessories industry for a workshop on how to establish a successful fashion brand. Eighty-eight participants of the workshop, the first to be held in Nairobi, were women.

African Development Bank and Association for the Development of Education in Africa urge partners to tackle skills mismatch

04-Mar-2020 - The African Development Bank and the Association for the Development of Education in Africa (ADEA) have called for stronger links between technical and vocational education and training and industry to equip young people with the skills they need to boost technological advancement, trade and growth in Africa.

“You have been in the trenches with us,”Ghana Vice President Mahamudu Bawumia tells African Development Bank

04-Mar-2020 - The African Development Bank’s support for the west African nation Ghana has boosted its government’s efforts to consolidate the economy, the country’s Vice President, Mahamudu Bawumia said on Monday. Bawumia, welcoming a team of Executive Directors and senior officials of the Bank on an official visit, cited various Bank-supported projects, especially in the areas of infrastructure, agriculture and technical innovation, as examples of interventions that have helped to boost the government’s efforts to consolidate the economy.

The African Development Bank Group appoints M. Solomon Quaynor as Vice-President, Private Sector, Infrastructure and Industrialization

03-Mar-2020 - The African Development Bank Group is pleased to announce the appointment of Mr. Solomon Quaynor as the Vice President for the Private Sector, Infrastructure and Industrialization Complex, effective from 1st May 2020.

The African Development Bank Group appoints Dr. Kevin Kanina Kariuki as Vice-President, Power, Energy, Climate and Green Growth

03-Mar-2020 - The African Development Bank Group is pleased to announce the appointment of Dr. Kevin Kanina Kariuki as the Vice President for Power, Energy, Climate & Green Growth, effective from 16 April 2020.

African Legal Support Facility launches new handbook on sovereign debt at 10th anniversary

03-Mar-2020 - The African Legal Support Facility (ALSF) has launched a handbook on sovereign debt aimed at improving users’ understanding of the subject and offering development and implementation strategies and tips to avoid over-indebtedness.

African Development Bank Group President Appoints Ms. Bajabulile “Swazi” Tshabalala as Acting Senior Vice President

02-Mar-2020 - The President of the African Development Bank Group, Dr. Akinwumi Adesina is pleased to announce the appointment of Ms. Bajabulile “Swazi” Tshabalala as Acting Senior Vice President of the Bank with immediate effect.  Ms. Tshabalala, currently the Vice President for Finance and Chief Finance Officer for the African Development Bank Group, joined the Bank on August 1, 2018.

Somalia and the African Development Bank Group sign agreement for arrears clearance support

02-Mar-2020 - Somalia‘s Minister of Finance, Dr. Abdirahman Beileh and the African Development Bank‘s Vice President for Regional Development, Integration and Business Delivery, Khaled Sherif on Monday signed a $122.55 million grant agreement to advance Somalia’s national development agenda, consolidate peace and ensure inclusive economic growth and poverty reduction.

President of The African Development Bank Receives 8th African Leadership Magazine African of The Year Award

01-Mar-2020 - Over 200 leading African political, business, and diplomatic leaders gathered in Johannesburg for the 8th African Leadership Magazine Persons of the Year Award dinner. They witnessed Dr. Akinwumi Adesina, President of the African Development Bank, being honored as the African of the Year 2019. 

Somalia: African Development Bank Group approves framework to clear nation’s arrears

26-Feb-2020 - The African Development Bank and African Development Fund today approved a framework  for $122.55 million to clear Somalia’s arrears, paving the way for the Bank Group to fully reengage with Somalia and opening opportunities for enhanced financing for the country. The historic Framework for Somalia’s Arrears Clearance and a Policy-based Operation was approved at a meeting of the Boards of Directors held Wednesday.

African Development Bank Board bids farewell to Senior Vice President Charles Boamah

26-Feb-2020 - “Twenty-three years is not a trivial number of years to spend in an institution. You’ve been a pillar of this institution. You’ve done very well.” It is with those words that the Executive Director for Nigeria and São Tomé and Príncipe, Bright Okogu, also Dean of the Board of directors of the African Development Bank, commended the outgoing Senior Vice President, Charles Boamah.

Zimbabwe: African Development Bank Executive Directors conduct consultative mission, tour project sites

26-Feb-2020 - A seven-member delegation of Executive Directors of the African Development Bank visited Zimbabwe on a week-long fact-finding mission where they held meetings with a number of officials including President Emmerson Dambudzo Mnangagwa. The delegation also met officials from various ministries, civil society, private sector and multilateral financial institutions, during which they were briefed on the current macro-economic, social and political environment in the southern African nation.

Botswana: African Development Bank supports development finance agency BDC with $80 million Line of Credit

25-Feb-2020 - The African Development Bank and the Botswana Development Corporation (BDC) on Friday signed a Line of Credit (LOC) totaling $80 million to help scale up key investments in the southern African country. BDC will on-lend to specific target groups, focusing on industrialization including manufacturing, transport and service sectors that have significant development impact. Repayment will be over 10 years, including a two-year grace period.

African Union Executive Council endorses African Development Bank President Adesina for second term

25-Feb-2020 - The Executive Council of the African Union has supported Dr. Akinwumi Adesina’s candidacy for a second term as President of the African Development Bank.  The decision was taken during the thirty-sixth Ordinary Session of the AU Executive Council, held during the AU Summit in Addis Ababa, Ethiopia, 6-7 February 2020. Adesina was elected to his first term as President by the Bank’s Board of Governors at its Annual Meetings in Abidjan on 28 May 2015. He is the eighth President of the African Development Bank Group and the first Nigerian in the...

Sénégal : le président Macky Sall reçoit les administrateurs de la Banque africaine de développement en mission de consultation dans le pays

24-Feb-2020 - Le Président de la République du Sénégal, Macky Sall, a reçu, vendredi 21 février à Dakar, les administrateurs de la Banque africaine de développement au dernier jour de leur mission de consultation dans le pays.

Ireland moves closer to becoming the 81st member of the African Development Bank Group

24-Feb-2020 - Ireland moved a step closer to becoming a member of the African Development Bank Group after a government delegation on Monday deposited ratification instruments during an official visit to the Bank’s Abidjan headquarters. The delegation, led by  Paul Ryan, Director, International Finance Division of Ireland’s Department of Finance, included Patrick Mulhall and Renee Martin of the Department of Finance, and Laura Gibbons from the Department of Foreign Affairs and Trade.

African Development Bank issues call to strengthen fertilizer value chains at Argus Africa Fertilizer Conference

21-Feb-2020 - The African Development Bank urged development finance institutions, NGOs, farmer cooperatives, and the private sector to develop more effective financing solutions for Africa’s fertilizer value chains. The Bank’s call to action came during the Argus Africa Fertilizer Conference held on 19 February. The conference’s theme was Supporting the fertilizer value chain to improve agricultural productivity and economic growth in the region.

Burundi : la Banque africaine de développement et le gouvernement signent deux accords de dons d’un montant total de 23,4 millions d’euros en faveur du développement du Port de Bujumbura

21-Feb-2020 - La Banque africaine de développement et le gouvernement burundais ont signé, mardi 18 février à Bujumbura, capitale économique du Burundi, deux accords de dons d’un montant total de 23,4 millions d’euros sur les ressources du Fonds Africain de Développement (FAD) et de la Facilité d’Appui à la Transition (FAT) en faveur du secteur du transport du pays.

Kenya: Celebrated entrepreneur calls for better policies and resources to support youth and women entrepreneurship

21-Feb-2020 - Multi-award-winning entrepreneur Ahmad Ashkar has called on policymakers to develop better policy options, backed by dedicated resources to support the youth and women to become successful entrepreneurs. Addressing a forum organized by the Eastern Regional office of the African Development Bank in Nairobi last week, Ashkar, CEO and founder of the Hult Prize Foundation, said  99% of youth do not think they can be entrepreneurs.  “We should equip them with financing, tools, and training in soft skills, which is lacking in the current education...

African Development Bank joins other Development Finance Institutions to deepen private investment in fragile states

20-Feb-2020 - Representatives of 27 Development Finance Institutions (DFIs) met at the University of Oxford on 11-13 February for a follow-up forum to strengthen private investment inflows into fragile or conflict-affected economies.