Press Releases
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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.
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
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.
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.
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.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.