Press Releases

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Africa: Shared Benefits Require Bold Economic Reforms

03-Nov-2012 - Participants at the closing session of the seventh African Economic Conference, on November 2, 2012 in Kigali, Rwanda, urged African leaders to put in place bold economic reforms, aimed at sustaining growth and boosting human development.

African Leaders Urged to Invest in Jobs, Infrastructure and Protecting Development Gains

30-Oct-2012 - Opening an unprecedented gathering of experts in Kigali, present and former African Heads of State urged business, community and political leaders to help turn the continent’s impressive growth into economic opportunities for ordinary citizens.

Korean Government and AfDB Sign Amended Cooperation Agreement for KOAFEC Trust Fund

24-Oct-2012 - A supplementary Technical Cooperation Agreement of the Korea Africa Economic Cooperation (KOAFEC) Trust Fund was signed on October 16, 2012, between Jaewan Bahk, Minister of Strategy and Finance, Republic of Korea, and Donald Kaberuka, President of the African Development Bank Group, during the KOAFEC Ministerial Conference in Seoul, Korea.

AfDB Approves Climate Resilience Plans in Niger and Mozambique

24-Oct-2012 - In September 2012, the Board of Directors of the African Development Bank has approved three path-breaking projects for climate resilience funded by the Climate Investment Funds (CIF) and AfDB for a total of $50.75 million. The three projects – two in Niger and one in Mozambique aim to strengthen their populations’ resilience to climate change by improving hydrometeorological methods, mobilizing water resources to boost food production, and climate-proof agricultural supply chains. The three projects are funded under the CIF Pilot Program for...

Africa Challenged to Harness Natural Resources for Inclusive Growth

23-Oct-2012 - The 8th African Development Forum (AFD VIII) opened in Addis Ababa, Ethiopia, on Monday with a call on African countries to harness their huge natural resources for the benefit of their growing populations. Addressing participants at the opening ceremony, the African Development Bank (AfDB) Group Operations Vice President, Aly Abou-Sabba, noted that Africa was now in a position where it should be using its natural resources for accelerated wealth creation to bring about socio-economic transformation.

La BAD soutient les réformes économiques et financières au Bénin, pour 24 milliards de Francs CFA

18-Oct-2012 - La Banque africaine de développement et le gouvernement du Bénin ont signé, mercredi 17 octobre 2012 à Tunis, un accord de prêt de 24 milliards de Francs CFA, en appui à la mise en œuvre des réformes économiques et financières du pays.  

AfDB Joins Development Partners in Support of Agricultural Cooperatives on World Food Day 2012

16-Oct-2012 - The African Development Bank joins its development partners and member countries today in celebrating World Food Day 2012. The official World Food Day theme, announced each spring by the Food and Agriculture Organization of the United Nations (FAO), gives focus to World Food Day observances and raises awareness and understanding of approaches to ending hunger.

Partners of Harmonization for Health in Africa Discuss Action Plans for High Quality, Affordable Healthcare and Implementation of Tunis Declaration

08-Oct-2012 - Partners in the Harmonization for Health in Africa (HHA) initiative convened in Nairobi on October 4 and 5, as a follow-up to the recent Tunis Ministerial Conference for African Health and Finance Ministers. Regional Directors, senior representatives and a multidisciplinary group of technical experts from the HHA partner agencies used the opportunity to discuss how to further strengthen their support to countries in providing quality and affordable healthcare to African populations, particularly the under-served.

Franc Zone Ministers Meet in Paris - AfDB at the 40th Anniversary of Africa-France Monetary Cooperation

08-Oct-2012 - The President of the African Development Bank, Donald Kaberuka, took part in the meeting of Ministers of the franc zone on October 4 and 5 in Paris, alongside franc zone central bank governors and heads of regional institutions. Africa’s 15 franc zone countries joined France to celebrate 40 years of their financial and monetary cooperation, an initiative spearheaded by France in 1972.

AfDB Signs First Private Sector Loan in Namibia to Improve Access to Finance and Open Doors to Education

05-Oct-2012 - Mr. Ebrima Faal, Regional Director at the Southern Africa Resource Center (SARC) of the African Development Bank (AfDB), signed on behalf of the AfDB the agreements for a loan of ZAR 65 million from the AfDB to Trustco Finance (part of the Namibia based “Trustco” group) to support its student lending program in Namibia. The signing ceremony took place in Windhoek, Namibia’s capital. Also taking part in the ceremony were DEG and Proparco who signed the agreements for loans to Trustco Finance of ZAR 50 million each.

AfDB Board Approves Bank’s Framework for Enhanced Engagement with Civil Society Organizations

04-Oct-2012 - The Board of the African Development Bank approved on Wednesday, October 3, the Bank’s Framework for Enhanced Civil Society Organization (CSO) Engagement. This Framework is designed to better structure the AfDB’s broader and deeper engagement with CSOs both at the corporate, regional/country and project levels, through three dimensions: outreach, dialogue and partnership.

African Water Facility Supports the Construction of Multi-Purpose Dams in Zambia to Build Resilience to Climate Change, Increase Food Security

26-Sep-2012 - The African Development Bank approved on August 29, an African Water Facility (AWF) grant of €950,000 to support a project to help the Government of Zambia develop, test and adopt updated guidelines, which will be used as framework for programming as well as designing the financing, construction and operations of multi-purpose small dams.

Donors Welcome the African Development Fund (ADF-12) Implementation

21-Sep-2012 - The Mid-Term Review of the African Development Fund (ADF-12) implementation concluded in Praia, Cape Verde on September 14 with donors and stakeholders encouraging the African Development Bank (AfDB) to continue working to achieve results in its development projects and institutional reforms. The meeting was officially opened on September 13 by Cape Verde’s Finance and Planning Minister, Cristina Duarte, and was attended by Deputies from donor countries; AfDB Governors for Côte d’Ivoire, Ghana, Kenya and Malawi; as well as the Bank’s President...

AfDB Approves US $348 Million in Funding for Kenya-Ethiopia Electricity Highway

20-Sep-2012 - The Board of the African Development Fund approved on Thursday, September 20, US $348 million in funding for a US $1.26-billion electricity highway project between Kenya and Ethiopia. Due for commissioning in November 2017, the project involves the construction of a 1,068-kilometre high-voltage direct current 500 kV transmission line between the two countries. It also includes putting up of associated converter stations at Wolayta-Sodo (Ethiopia) and Suswa (Kenya), with a power transfer capacity of up to 2,000 MW.

AfDB Injects USD 7 Million Equity into Pan African Housing Fund to Increase Access to Housing in African Cities

18-Sep-2012 - The Board of Directors of the African Development Bank (AfDB) has approved on 6 September 2012 a USD 7 million equity investment in the Pan African Housing Fund (PAHF), a private equity fund targeting the lower-middle and middle-middle class residential housing market in Africa. This contribution will allow PAHF to help grow the capacity of local developers to deliver housing development projects that address the severe shortage of housing and corresponding infrastructure required to keep pace with Africa’s fast-paced urbanization.  

La BAD appuie la promotion du secteur privé au Sénégal à hauteur de 4,5 milliards de FCFA

14-Sep-2012 - Le Groupe de la Banque africaine de développement (BAD) a octroyé, le 10 septembre 2012 à Tunis, au Sénégal, un prêt de 4,4 millions d’unités de comptes, soit environ 4,5 milliards de Francs CFA, en financement du Projet d’appui à la promotion du secteur privé dans le pays (PAPSP). Ce montant qui sera prélevé sur les ressources du guichet du Fonds africain de développement, et contribuera au développement du secteur privé sénégalais, et en particulier à l’épanouissement des PME-PMI. 

“The AfDB will Continue to Provide Senegal with its Financial and Technical Support for Inclusive Growth” Says Donald Kaberuka

12-Sep-2012 - In concluding his three-day official visit to Senegal at the invitation of President Macky Sall, AfDB President Donald Kaberuka said, “I have benefitted from the analysis of President Macky Sall regarding AfDB-Senegal cooperation and topics related to regional integration and international cooperation.” The visit took place from September 8-11.

AfDB to Support Benin’s Economic Reforms with a 24 Billion CFA Franc Budget Support

11-Sep-2012 - The African Development Bank (AfDB) Group on September 6, in Tunis approved a loan of UA 30 million, equivalent to 24 billion CFA francs, to the Republic of Benin as funding to support the country’s economic and financial reforms. The funding amount will be deducted from the resources of the African Development Fund (ADF), the Bank’s concessional window. The program will contribute to institutional development and knowledge accumulation in the area of public finance reforms and provide support for private sector development in the country.

AfDB Provides US $1-Million Grant for Rehabilitation of Social Infrastructure in Madagascar

29-Aug-2012 - The African Development Bank Group, UNICEF and the Government of Madagascar signed a US $1-million grant agreement to fund rehabilitation of social infrastructure in the country following the devastating cyclones Giovanna and Irina, which hit the country in February. The signing took place on August 23 in Brickaville, about 250 km east of Antananarivo.

SEFA Approves First Grant for Conceptualization of Green Tech Financial Facility

27-Aug-2012 - The Sustainable Energy Fund for Africa (SEFA), a joint initiative of the Danish government and the Energy, Environment and Climate Change Department (ONEC) of the African Development Bank (AfDB), approved on August 17 its first grant of USD 825,000 to finance the concept phase of the Green Tech Financial Facility – a vehicle for investments in private-sector driven green technology projects – including market scoping and positioning studies, fund conceptualization and fund manager selection.