Press Releases
Displaying 41 - 60 of 5617
Austrian expertise in renewable energy could benefit Africa, says African Development Bank’s Vice President Marie-Laure Akin-Olugbade
19-Mar-2024 - The African Development Bank Group’s Vice President for Regional Development, Integration and Business Delivery Marie-Laure Akin-Olugbade has said as Africa develops its renewable energy sector, it can benefit from the expertise of Austria—a country largely powered from renewable sources.
African Development Bank Executive Directors visit Sierra Leone
17-Mar-2024 - A delegation of seven Executive Directors from the African Development Bank Group has arrived in Sierra Leone on a five-day consultation mission aimed at deepening the partnership between the Bank and the West African nation. Led by Mette Knudsen from Denmark, the delegation includes Jonathan Nzayikorera from Rwanda, Rufus N. Darkortey from Liberia, Takaaki Nomoto from Japan, Dr. Martin Kipping from Germany, Dr. Nomfundo Ngwenya from South Africa and Dr. Samson Oyebode Oyetunde from Nigeria.
Morocco: the African Development Bank and the Fonds d’équipement communal sign a loan agreement of EUR 100 million to fund sustainable development projects and strengthen the attractiveness of various territories
15-Mar-2024 - The African Development Bank signed a loan agreement of EUR 100 million with the Fonds d’équipement communal (FEC) in Rabat, on Friday, March 15, to fund new investment and sustainable infrastructure projects backed by territorial communities. The aim of the operation is to improve public services, particularly in rural areas, and support the emergence of new economic activities, investment opportunities and employment opportunities to help improve living conditions for local populations.
African Development Bank signs $15 million Transaction Guarantee Facility with NMB Bank Zimbabwe
15-Mar-2024 - The African Development Bank and NMB Bank Limited Zimbabwe (NMB) have signed a $15 million Trade Finance Transaction Guarantee Facility to unlock trade finance opportunities for Zimbabwean small and medium-sized enterprises and those in agri-business and trade distribution value chains. The signing took place on 7 March at NMB Bank Headquarters in Harare. Moono Mupotola, African Development Bank Country Manager, and Gerald Gore, NMB Bank Chief Executive Officer attended. The African Development Bank’s board approved the project in November...
To tackle poverty, Africa needs welfarist policies and people-centred development, says African Development Bank President Adesina
08-Mar-2024 - President of the African Development Bank Group Dr. Akinwumi Adesina has appealed to leaders in Nigeria and across Africa to make poverty history as he outlined a compelling case for welfarist policies and people-centred development. “Given the high levels of poverty in Africa, and Nigeria, what is needed are welfarist policies that exponentially expand opportunities for all, reduce inequalities, improve the quality of life of people,” Adesina said as he received the prestigious Awolowo prize for leadership at a colourful ceremony in Lagos on...
The Gambia: African Development Bank approves supplemental $12 million to boost agriculture and food security
07-Mar-2024 - The Board of Directors of the African Development Bank Group, granted an additional $12 million on March 4, to The Gambia to bolster its ongoing Agriculture and Food Security Project, launched in 2021.
African Development Bank-Supported Projects in Egypt and Côte d'Ivoire Win Top Honors at 2024 Bonds, Loans & ESG Capital Markets Africa Awards
07-Mar-2024 - Two African Development Bank-supported projects have been recognized at the 2024 Bonds, Loans & ESG Capital Markets Africa Awards conference. A RMB3.5bn ($478.7 million) Sustainability Panda Bond issue by Egypt was awarded Sovereign, Supra & Agency Bond Deal of the Year and a €533m Sustainable Loan to Côte d'Ivoire was named ESG Loan Deal of the Year.
Senegal: the African Development Bank donates $20 million to strengthen food security and increase incomes of small producers
06-Mar-2024 - The Board of Directors of the African Development Bank Group granted a donation of $20 million to Senegal, in Abidjan on Tuesday 5 March 2024, to implement the Post-Covid Food and Nutrition Security Enhancement Project (PRESAN-PC), designed to increase the agricultural production and incomes of vulnerable women and young people over the long term.
Top Nigerian University honours African Development Bank President Akinwumi Adesina
06-Mar-2024 - Nigeria’s top Bayero University, Kano, has conferred an honorary degree on African Development Bank Group President Dr Akinwumi Adesina, for his exceptional contribution to education and youth development in the country and across Africa. Dr Adesina received a Doctor of Business Administration at the university’s 38th convocation held in Kano on Saturday, joining the league of influential recipients of this prestigious award, including global icons like South Africa’s Nelson Mandela.
Rwanda: the African Development Fund commits $12 million to the rapid operationalization of the African Pharmaceutical Technology Foundation (APTF)
04-Mar-2024 - The Board of Directors of the African Development Fund approved, in Abidjan on 27 February 2024, $11.96 million Grant to speed up the establishment of the African Pharmaceutical Technology Foundation, headquartered in Kigali, Rwanda. The financial support from the African Development Bank Group’s Regional Public Good window, together with a contribution of $1.93 million from the Rwandan government, is intended to implement the Regional Pharmaceutical Sector Support Project in Rwanda.
Democratic Republic of Congo: African Development Bank to lend $117 million to support agricultural transformation
04-Mar-2024 - Meeting in Abidjan on 14 February 2024, the Board of Directors of the African Development Bank Group approved a loan of $117.9 million to the Democratic Republic of Congo to implement the Project to Support Governance and Skills Development in support of the Agriculture Transformation Programme (PTA). The financial support comes from the African Development Fund, the Bank Group's concessional lending window, and includes $78.6 million from the Transition Support Facility – a financing instrument of the Bank aimed at countries in fragile and...
Mali: Partners and key players commit to developing renewables sector at opening of 3rd Renewable Energies Week
01-Mar-2024 - On Thursday 29 February 2024, the Malian Minister of Young People and Sports, Civic Education and Citizenship, Abdoul Kassim Fomba presided – in the name of the Prime Minister of Mali, Choguel Kokalla Maïga – the opening of the 3rd Renewable Energies Week. He renewed the commitment made by the authorities and key sector players to further the development of renewable energies in the country, located in the Sahel region of West Africa.
Bill & Melinda Gates Foundation commits $6 million to the African Water Facility for Africa Urban Sanitation Investment Initiative
01-Mar-2024 - The Bill & Melinda Gates Foundation has committed $6 million to the African Water Facility, to support the operationalization of the Africa Urban Sanitation Investment Initiative (AUSII) – a new financing window dedicated to improving sanitation in African urban cities. The African Water Facility, a special project preparation fund established as an initiative of the African Ministers Council on Water (AMCOW), is hosted and managed by the African Development Bank.
Africa defies odds to become the world’s second fastest growing region, African Development Bank’s Adesina tells ambassadors in Abidjan
01-Mar-2024 - Africa’s economies continue to grow faster than the global average of 3% demonstrating resilience against several challenges including climate change, geopolitical tensions, rising inflation, food insecurity and rising debt. The President of the African Development Bank Group, Dr Akinwumi Adesina said, “It is forecasted that Africa will account for 11 out of the 20 fastest-growing economies in the world in 2024,” adding, “15 African countries have posted output expansions of more than 5%.
Ethiopia: African Development Fund grants $46 million to improve access to water and sanitation for pastoral communities in the Borana region
29-Feb-2024 - The Board of Directors of the African Development Fund in Abidjan on 28 February 2024, donated $46.02 million to Ethiopia to implement Phase 2 of the Borana Resilient Water Development for Improved Livelihoods Program in the country’s south. Financial support from the African Development Bank Group’s concessional rate loans window is intended to improve access to integrated, sustainable, climate-smart, gender-sensitive water supply and sanitation services for pastoral communities in the arid lands of the Borana area, in the Oromia region.
African Development Bank approves $150 million Regional Trade Finance Unfunded Risk Participation Agreement facility for Eastern and Southern African Trade & Development Bank (TDB)
28-Feb-2024 - The Board of Directors of the African Development Bank Group has approved a $150 million Trade Finance Unfunded Risk Participation Agreement facility between the African Development Bank and Trade & Development Bank (TDB). The agreement is expected to boost intra-Africa trade, promote regional integration and contribute to the reduction of the trade finance gap in Africa, in line with the aspirations of the African Continental Free Trade Area (AfCFTA).
DR Congo: African Development Bank grants $7 million trade finance guarantee facility to Access Bank DR Congo to support SMEs and local businesses
22-Feb-2024 - On 20 February 2024, the Board of Directors of the African Development Bank Group approved a $7 million trade finance guarantee facility grant to Access Bank DR Congo.
Catalyzing Digital Innovation: African Development Bank commits $80 million to Ekiti Knowledge Zone Project in Nigeria
22-Feb-2024 - In the heart of Nigeria’s Ekiti State, a groundbreaking initiative is taking shape – the Ekiti Knowledge Zone (EKZ), a bold step to transform the region into a hub for digital innovation and knowledge economy. The African Development Bank has committed $80 million in loan financing for this state-led pioneering special economic zone project, designed to foster linkages between educators, researchers, innovators, entrepreneurs, and industries, all within one location.
African Development Bank Group, Lake Chad Basin Commission sign MOU to restore Lake Chad Basin
20-Feb-2024 - The African Development Bank Group and the Lake Chad Basin Commission have signed a Memorandum of Understanding to rehabilitate and restore the Lake Chad Basin. The agreement, signed on the sidelines of the 37th African Union Summit held in Ethiopia, will mobilise financial and technical resources to improve the development and management of water resources, support livelihoods and restore peace in the region.