Press Releases
Displaying 1 - 50 of 4053
African Development Bank debars China Zhonghao Nigeria Limited for 18 months for fraudulent practices
20-Apr-2020 - The African Development Bank Group on 14 April 2020, announced the debarment of China Zhonghao Nigeria Limited, a civil engineering company registered in Nigeria, for 18 months, for fraudulent practices.African Development Bank strongly rebuts claims that it plans to provide financial support to the East African Crude Oil Pipeline Project
18-Apr-2020 - The African Development Bank has become aware of an inaccurate news article stating that the institution plans to provide financial support to the East African Crude Oil Pipeline Project. The Bank strongly refutes the claims in the misleading article, which references a letter by a group of civil society organizations and climate change advocates asking the institution to withdraw from the project due to its potential social and environmental damage. Here are the facts:African Development Bank places Zhongmei Engineering Group Limited on 12 months conditional non-debarment for fraudulent practice
17-Apr-2020 - The African Development Bank Group on 17 April 2020, announces a 12-month conditional non-debarment of Zhongmei Engineering Group Limited, an engineering company registered in Uganda.African Development Bank’s SEFA grants $760,000 to develop small-scale renewable energy projects across Sub Saharan Africa
15-Apr-2020 - The African Development Bank-managed Sustainable Energy Fund for Africa (SEFA), has approved a $760,000 grant to Empower New Energy AS (EmNEW), to develop at least eight small renewable energy projects with capacity ranging from1-10 MW, towards bankability and construction.African Development Bank Group approves $10 million equity in Razorite Healthcare Fund for Africa
10-Apr-2020 - The Board of Directors of the African Development Bank has approved a $10-million equity investment in Razorite Healthcare Africa Fund 1 (RHAF1) to help improve healthcare infrastructure delivery across the continent.
African Development Bank Group unveils $10 billion Response Facility to curb COVID-19
08-Apr-2020 - The African Development Bank Group on Wednesday announced the creation of the COVID-19 Response Facility to assist regional member countries in fighting the pandemic. The Facility is the latest measure taken by the Bank to respond to the pandemic and will be the institution's primary channel for its efforts to address the crisis. It provides up to $10 billion to governments and the private sector. Akinwumi Adesina, President of the African Development Bank Group, said the package took into account the fiscal challenges that many African...
World Health Worker Week: Amid a global pandemic, we must celebrate “Leaders on the Front Line”
08-Apr-2020 - During World Health Worker Week 2020 (5-11 April), the African Development Bank joins the global community to celebrate and recognise the contributions of health workers, including nurses and midwives, on the frontlines of the ongoing international response to the COVID-19 pandemic.Guinée : la Banque africaine de développement offre une assistance technique pour le développement de mini-réseaux d’énergie verte
06-Apr-2020 - La Banque africaine de développement, à travers son Fonds des énergies durables pour l'Afrique (SEFA), a approuvé une subvention de 830 000 dollars américains pour soutenir l'Agence guinéenne pour l’électrification rurale (AGER), dans la mise en place de projets de mini-réseaux verts en République de Guinée.
African Development Bank celebrates milestone with first social bond listing on London Stock Exchange
03-Apr-2020 - The African Development Bank’s “Fight Covid-19” social bond, the largest social bond to date to be issued in the capital markets, listed on London Stock Exchange on Friday 3 April 2020, and is now available through its Sustainable Bond Market. The listing marks an important milestone as the Bank launches its first bond on London Stock Exchange. The over-subscribed transaction, which attracted $4.6 billion of interest in the book and raised an exceptional $3 billion, was launched to alleviate the impact of Covid-19 on Africa’s economies and...
African Development Bank Group approves Gender Equality Trust Fund and Risk-Sharing Mechanism to improve women’s economic empowerment in Africa
03-Apr-2020 - The Board of Directors of the African Development Bank Group have approved a new Gender Equality Trust Fund (GETF) aimed at pushing forward gender equality and women’s empowerment across the continent. Funded by donors, the GETF will support the delivery and scale-up of the Bank’s Affirmative Finance Action for Women in Africa (AFAWA) programme and promote gender transformative lending and non-lending operations. It is the first thematic fund on gender in the Bank Group’s history. The Fund will be established for an initial period of 10 years.
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.