Press Releases
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Transport projects financed by the AfDB between 1967 and 2017 have benefited 450 million Africans
11-Aug-2017 - Over its 50-year history, the African Development Bank (AfDB) has financed over 450 transport projects, changing the lives of close to 450 million people across Africa. Roads, port, airport, and railway projects are all included on a map published as part of the fiftieth anniversary of the first project financed by the Bank, a road project in Kenya, in 1967.Zambia approves Learning Assessments Systems Evaluation Framework developed by ADEA and NALA
11-Aug-2017 - Experts from Zambia reviewed and approved the Learning Assessment Systems Evaluation Framework (LASEF) at a meeting convened by the Association for the Development of Education in Africa (ADEA) on 10 and 11 July in Lusaka, Zambia.SEFA to support first utility-scale solar PV Project in Lesotho
11-Aug-2017 - The African Development Bank (AfDB)-managed Sustainable Energy Fund for Africa (SEFA) approved a US$ 695,500 grant to NEO I SPV Pty Ltd., a subsidiary of OnePower Lesotho Pty Ltd., to support the preparation of a bankable business case for the development of the winning project of the 2016 Lesotho 20 MW solar PV tender, foreseen to become the first utility-scale solar PV project in Lesotho.Fitch affirms African Development Bank’s Triple 'A' rating with Stable Outlook
09-Aug-2017 - Leading global rating agency Fitch Ratings has affirmed the African Development Bank’s (AfDB) Long-Term Issuer Default Rating (IDR) at 'AAA' with a Stable Outlook and its Short-Term IDR at 'F1+' (best quality grade, indicating exceptionally strong capacity to meet its financial commitments). In a statement released on 4 August, the agency said the 'AAA' rating primarily reflects extraordinary support from AfDB’s shareholders which provides a three-notch uplift over the Bank’s intrinsic rating.Standard and Poors Affirms AfDB’s 'AAA/A-1+' Ratings; Outlook Stable
09-Aug-2017 - Global rating agency, Standard and Poors has affirmed its AfDB’s 'AAA/A-1+' Ratings with Outlook Stable. This is similar to Fitch’s recent affirmation of the Bank’s Triple 'A' rating with Stable Outlook as well. In the statement, S&P summarised its ratings released on 31 July 2017 as follows: • We expect the African Development Bank (AfDB) will further increase its lending over the next two years, while maintaining its current stand-alone credit quality, with a very strong business profile and very strong financial profile.
AfDB and African Ambassadors host 2nd Japan-Africa Business Forum in Tokyo
04-Aug-2017 - The 2nd Japan-Africa Business Forum was held in Tokyo on 25-26 July 2017 on the theme ‘Investment and Business Opportunities with Africa’. The Forum was organized by the Bank’s Asia External Representation Office and African Diplomatic Corps (ADC) in Tokyo, in collaboration with Japan International Cooperation Agency (JICA), Japan External Trade Organization (JETRO) and United Nations Industrial Development Organization (UNIDO).Fitch affirms African Development Bank at 'AAA'; Outlook Stable
04-Aug-2017 - Fitch Ratings has affirmed the African Development Bank's (AfDB) Long-Term Issuer Default Rating (IDR) at 'AAA' with a Stable Outlook and Short- Term IDR at 'F1+'. A full list of rating actions is at the end of this rating action commentary. Key Rating Drivers The 'AAA' rating primarily reflects extraordinary support from AfDB's shareholders, assessed by Fitch at 'aaa', which provides a three-notch uplift over the bank's intrinsic rating.
Ghana targets 5 million passengers yearly with AfDB-funded international airport expansion project
04-Aug-2017 - The construction of a new terminal at Ghana’s flagship airport – Kotoka International Airport – is expected to make the country a destination of choice with a yearly target of 5 million passengers. The project, funded by the African Development Bank (AfDB) with a $120-million facility, will improve air transport in the country. It is also expected to contribute towards boosting the country’s economy, reduce the cost of doing business, and improve competitiveness.
Nigeria Technical Cooperation Fund celebrates first ten-year life cycle (2004 - 2014)
02-Aug-2017 - The Directorate of Technical Cooperation in Africa (DTCA) of Nigeria’s Ministry of Foreign Affairs and the African Development Bank (AfDB) celebrated the completion of the first life cycle of the Nigeria Technical Co-operation Fund (NTCF) in a ceremony in Abuja on 1 August 2017.
Transformation of cocoa production, rural economy, energy in focus, as Adesina visits Ghana
02-Aug-2017 - The President of the African Development Bank (AfDB), Akinwumi Adesina, is championing the transformation of the rural economies of African countries as the fastest way to lift millions of people out of poverty. The President, who is on a three-day visit to Ghana, August 1-4, spoke at a welcome dinner hosted by Ghana’s Minister of Finance. The dinner was attended by the Vice-President of Ghana, Mahamudu Bawumia, Governor of the Central Bank of Ghana, and key government functionaries.
AfDB signs US$ 78 million grant agreements with Governments of Somalia and South Sudan to strengthen drought resilience and address chronic hunger and malnutrition
01-Aug-2017 - Somalia grant of US$ 34.8 million set to benefit 804,000 individuals South Sudan grant of US$ 43.8 million set to benefit 300,000 individuals Pastoralists and agro-pastoralist households among the target beneficiaries; Women, children, elderly and disabled to be prioritizedAfDB to invest US$24 billion in agriculture in next 10 years
28-Jul-2017 - The African Development Bank (AfDB) will invest US $24 billion dollars in agriculture as part of its Feed Africaprogramme- a strategy for agricultural development in Africa. President of the Bank, Akinwumi Adesina, said this in a speech he delivered at the 50th anniversary celebration of the International Institute for Tropical Agriculture (IITA) in Ibadan, Nigeria,NEPAD Infrastructure Project Preparation Facility proposes regional information hub to stimulate investment in Africa
24-Jul-2017 - The NEPAD Infrastructure Project Preparation Facility (NEPAD-IPPF) has advocated the establishment of a regional information hub to advertise bankable projects in Africa. NEPAD-IPPF proposes that each country should have a window linked to the centralized hub as part of an overall objective to unlock bankable investment opportunities in Africa.ALSF Management Board welcomes its two newest members, Bruce Montador and Rafique Mahomed
20-Jul-2017 - After bidding a fond farewell to its outgoing members, the African Legal Support Facility (ALSF) warmly welcomed two new additions to its Management Board – Rafique Mahomed and Bruce Montador – during a Board meeting held on Thursday, 13 July.
ADEA applauds Ghana’s and Seychelles’ strong Higher Education Management Information System
19-Jul-2017 - The Association for the Development of Education in Africa (ADEA) congratulated Ghana and Seychelles for having well-developed management information systems for their higher education institutions.Tanzania wins US$21.7 million from Climate Investment Funds to advance geothermal exploration and transform its energy sector
19-Jul-2017 - The Climate Investment Funds (CIF) has approved US $21.7 million for the United Republic of Tanzania to finance its Geothermal Energy Development Project. The project serves as a significant step in advancing the country’s plans to transform its national economy bolstered by an affordable and baseload sustainable energy technology. It will develop the Ngozi geothermal steam field in southwestern Tanzania and ultimately showcase the technology’s broader potential in the country’s energy transformation.La BAD dégage 28,9 milliards de francs CFA en soutien à la gouvernance économique et à la croissance en Côte d’Ivoire
18-Jul-2017 - Le Conseil d’administration de la Banque africaine de développement (BAD) a approuvé un prêt du Fonds africain de développement (FAD) de 36,232 millions d’Unités de compte (UC), soit 28,9 milliards de Francs CFA en faveur de la Côte d’Ivoire afin de permettre au pays de financer son Programme d’appui à la gouvernance économique et à la croissance (PAGEC).
Cameroon: AfDB President lays foundation stone of Lom Pangar Dam power plant
18-Jul-2017 - On Sunday 17 July 2017, The President of the African Development Bank Group (AfDB), Akinwumi Adesina, laid the foundation stone of the Lom Pangar Dam power plant in the département of Lom-et-Djerem in eastern Cameroon.African Parliamentarians’ Network on Development Evaluation Gains Momentum
17-Jul-2017 - The 3rd Annual General Meeting (AGM) of the African Parliamentarians’ Network on Development Evaluation (APNODE), held in Khartoum, Sudan, from July 15th to 17th, attracted 47 participants from 17 countries. Among these were three Speakers of Parliament (from Sudan, Ethiopia and Uganda), emphasizing the support that the network enjoys at the highest levels. Development partners including UN Women, the Centre for Learning on Evaluation and Results for Anglophone Africa (CLEAR-AA), and Independent Development Evaluation of the AfDB also...