Press Releases

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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.

Sénégal : les administrateurs de la Banque africaine de développement mesurent l’impact du P2RS sur les bénéficiaires du programme

20-Feb-2020 - Les administrateurs de la Banque africaine de développement se sont rendus, hier, à Fatick, à plus d’une centaine de kilomètres de Dakar, dans le cadre de leur mission de consultation au Sénégal. Accueillis sur place par la gouverneure de la région, Seynabou Gueye, ils ont rencontré les bénéficiaires du Programme multinational de renforcement de la résilience à l'insécurité alimentaire et nutritionnelle au Sahel (P2RS), dont ils ont pu mesurer l’impact sur le quotidien des populations locales.

“Our goal is to surpass developed countries,” African Development Bank VP tells fourth industrial revolution forum

20-Feb-2020 - Africa is not only ready for the fourth industrial revolution. It is set to outdo the achievements of the developed world. That was one of the messages that emerged at a seminar hosted by the African Development Bank at its headquarters in Abidjan. The event attracted Ivorian and regional ministers as well as officials, senior Bank staff and private sector executives, including those of tech giants MTN and Orange.

EAC hosts the 30th NEPAD-IPPF Oversight Committee in Arusha

19-Feb-2020 - The New Partnership for Africa’s Development Infrastructure Project Preparation Facility (NEPAD-IPPF) held its 30th Oversight Committee meeting for the Special Fund at the headquarters of the East African Community, in Arusha, Tanzania.

African Development Bank Director Hanan Morsy named one of Egypt’s 50 most influential women

18-Feb-2020 - The Director of Macroeconomic Policy, Forecasting and Research at the African Development Bank, Dr Hanan Morsy, has been named one of Egypt’s 50 most influential women. Dr Hala El Said, Egypt’s Minister of Planning and Economic Development, gave the award on 5 February in a ceremony organized under auspices of the Egyptian Prime Minister.  “I am honored to be named among the most influential women in Egypt. This award validates the crucial role of women in contributing to the Egyptian economy and the continent as a whole,” said Dr Morsy.

Côte d’Ivoire : la Banque africaine de développement lance un rapport de diagnostic pays inédit sur le financement à long terme.

18-Feb-2020 - La Banque africaine de développement a lancé, vendredi 14 février à Abidjan, un rapport de diagnostic pays inédit sur le financement à long terme de la Côte d'Ivoire. Ce rapport, premier du genre réalisé en Afrique, a été élaboré par la Banque en collaboration avec l’Initiative pour le renforcement du secteur financier en Afrique (« Financial Sector Deepening Initiative in Africa », FSD Africa), la coopération allemande (GIZ) et le partenariat « La finance au service de l’Afrique » (« Making Finance Work for Africa » MFW4A).

Sénégal : les administrateurs de la Banque africaine de développement veulent évaluer les impacts des projets financés par la Banque

17-Feb-2020 - Les administrateurs du Groupe de la Banque africaine de développement conduisent une mission de consultation du 17 au 21 février au Sénégal, ponctuée, ce lundi, par des réunions dans cinq ministères et des visites dans des structures de projets.  

République démocratique du Congo : Bientôt de l’eau potable pour la ville de Mbuji-Mayi, grâce à la Banque africaine de développement

13-Feb-2020 - le Premier ministre de la République démocratique du Congo (RDC), Sylvestre Ilunga Ilunkamba a procédé au lancement des travaux de réhabilitation et de modernisation du système de production et de distribution d’eau potable de la ville de Mbuji-Mayi, dans le Kasaï-Oriental, financés par la Banque africaine de développement.

African Development Bank Rebuts World Bank President’s comments on Africa’s debt profile

13-Feb-2020 - In several news reports, World Bank President David Malpass was recently quoted as saying some Multilateral Development Banks, including the African Development Bank, have a tendency to lend too quickly and in the process, add to the continent’s debt problems. This statement is inaccurate and not fact based. It impugns the integrity of the African Development Bank, undermines our governance systems, and incorrectly insinuates that we operate under different standards from the World Bank. The very notion goes against the spirit of...

AFAWA Initiative: French delegation follows through its commitment with working visit to African Development Bank headquarters

12-Feb-2020 - A delegation from the French government, led by Philippe Lacoste, director of sustainable development at the Ministry of Foreign Affairs, paid a working visit to African Development Bank headquarters in Abidjan on February 13 and 14.

African Development Bank approves $1 million grant for Uganda to stem Ebola transmission

12-Feb-2020 - The African Development Bank has released a $1 million grant to Uganda to help the East African country tackle an outbreak of the Ebola virus. The grant to support Uganda’s National Ebola Viral Disease (EVD) Preparedness and Response Plan, was approved in January. Funds have been disbursed through the World Health Organization (WHO), which is the implementing agency. 

Canadian Prime Minister Justin Trudeau meets African leaders to advance conflict resolution and economic security

10-Feb-2020 - Canada’s Prime Minister Justin Trudeau convened a meeting for African heads of state, foreign ministers and representatives of the United Nations and other multilateral bodies on Monday to discuss ways to secure peace across the continent as a necessary condition for prosperity.  

AU Summit: First continental report on implementation of Agenda 2063 unveiled

09-Feb-2020 - The African Development Bank, the United Nations, and the African Union on Saturday acknowledged the significant progress made in implementing Agenda 2063 and urged African countries to go further to fast-track economic transformation. The call was made on Saturday at the launch of the first report on the implementation of Agenda 2063 ahead of the 33rd African Union Summit in Addis Ababa. The report provides an assessment of the progress and performance of Africa’s development between 2013 and 2019.

AU Summit: African leaders call for action to end malnutrition by 2025

09-Feb-2020 - African countries have made progress toward eradicating malnutrition and stunting but need to do more to hit United Nations malnutrition targets by 2025. This was the main message of a meeting that took place during the 33rd African Union Summit. Speakers at a meeting of the African Leaders for Nutrition (ALN) included the heads of state of Madagascar, Cote d’Ivoire and Sierra Leone, national ministers of health as well as African Development Bank President Akinwumi Adesina, head of the African Development Bank.

La Banque africaine de développement réaffirme son plein soutien à la Commission du bassin du lac Tchad

07-Feb-2020 - La Banque africaine de développement a réaffirmé, mardi 4 février à Abidjan, son plein soutien à la Commission du bassin du lac Tchad (CBLT), qui regroupe le Cameroun, le Niger, le Nigeria et le Tchad, confrontés à la menace du groupe djihadiste Boko Haram.

‘A blueprint to address the continent’s human capacity gap.’ African Development Bank’s African Economic Outlook 2020 lauded at 33rd AU Summit

07-Feb-2020 - The African Development Bank’s African Economic Outlook 2020 was praised at the 33rd African Union Summit in Addis Ababa for being an effective blueprint for addressing the continent’s human capacity gap.

African Development Bank President Akinwumi Adesina to lead delegation to 33rd African Union Summit

07-Feb-2020 - The president of the African Development Bank Akinwumi Adesina is expected in the Ethiopian capital for the African Union’s 33rd Assembly of Heads of State and Government. The summit runs from 8-10 February 2020 under the theme: Silencing the Guns: Creating Conducive Conditions for Africa’s Development. 

Mali : Lancement officiel du Programme de développement et d’adaptation au changement climatique dans le Bassin du fleuve Niger

06-Feb-2020 - La Banque africaine de développement, le Gouvernement du Mali et l’Autorité du bassin du fleuve Niger (ABN) ont lancé, mardi 04 février 2020, à Bamako, le Programme intégré de développement et d’adaptation au changement climatique dans le Bassin du fleuve Niger (PIDACC/BN).

African Development Fund approves close to $35 million to the Government of Liberia for renewable energy

04-Feb-2020 - The African Development Fund has approved a $34.74 million grant and loan to boost renewable energy access and promote an attractive investment climate in Liberia.

Provide young people with new skills to meet the needs of a 21st century labor market, African Development Bank report urges

03-Feb-2020 - "Youth must be prepared for the jobs of the future – not the jobs of the past," African Development Bank President Akinwumi Adesina said on Thursday at the launch of the Bank's flagship African Economic Outlook.

“Nobody eats GDP” says African Development Bank President as he calls for inclusive growth

03-Feb-2020 - Africa’s economies are growing strongly, but growth alone cannot meet the needs of the continent’s poorest citizens, because “nobody eats GDP,” the African Development Bank’s President, Akinwumi Adesina, said as he unveiled the Bank’s flagship economic report on Thursday.

“Teach them smart solutions,” says out-of-the-box thinker Monique Ntumngia, founder of Green Girls, at 2020 African Economic Outlook launch

31-Jan-2020 - African governments must foster innovation and provide hands-on education solutions to young people if the continent is to beat the challenges of the next decade and meet global development targets. “Reality on the ground and the statistics do not meet, they are on parallel lines. There’s more of cram work in our educational system than actually getting us to think out of the box,” said Monique Ntumngia, Cameroonian founder of “Green Girls, a social business that educates young women from rural communities in the use of renewable energy.

African Economic Outlook 2020: Africa’s economy forecast to grow despite external shocks

30-Jan-2020 - Africa’s economic growth remained stable in 2019 at 3.4 percent and is on course to pick up to 3.9 percent in 2020 and 4.1 percent in 2021, the African Development Bank’s 2020 African Economic Outlook (AEO) revealed Thursday. The slower than expected growth is partly due to the moderate expansion of the continent’s “big five” — Algeria, Egypt, Morocco, Nigeria, and South Africa – whose joint growth was an average rate of 3.1 percent, compared with the average of 4.0 percent for the rest of the continent.

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.