Press Releases
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Despite Challenges, Africa's Debt is still under control says African Development Bank
13-Jun-2019 - The African Development Bank remains strong with growing operating revenues and allocable income generated since 2010 reaching $2.5 billion, the Bank Group’s Treasurer, Hassatou Diop N'sele, stated on Thursday. In 2018, the Bank earned $214 million in allocable income, 48% of which has been reinvested in the institution to reinforce reserves and its business growth capacity. The bullish numbers were revealed during the Bank’s Financial presentation Thursday, a highlight of the 2019 Annual Meetings of the Bank currently underway in Malabo,...
Switzerland gives 3.2 million Swiss francs to African Development Bank’s ‘Boost Africa’ E-Lab and urban development fund
13-Jun-2019 - The State Secretariat for Economic Affairs of the Government of the Swiss Confederation (SECO) and the African Development Bank on Thursday signed two agreements to fund African initiatives on the sidelines of the Bank’s 2019 Annual Meetings. SECO contributed 3 million Swiss francs to the Entrepreneurship Lab (E-Lab) for innovative young entrepreneurs and 200,000 Swiss francs to the Urban & Municipal Development Fund for Africa (UMDF), which helps African cities plan and manage urban growth and climate-resilient development by improving...
Gambia President Adama Barrow awarded the Great Builder Super Prize – The Africa Road Builders Babacar Ndiaye Trophy 2019
13-Jun-2019 - At a ceremony held on the sidelines of the Annual Meetings of the African Development Bank Group on Wednesday, 12 June, the president of Gambia, Adama Barrow, was awarded the Great Builder Super Prize – The Africa Road Builders Babacar Ndiaye Trophy 2019, for his personal leadership in building the Senegambia bridge that links Gambia to Senegal.
African leaders share their vision for an integrated continent
12-Jun-2019 - Leaders from four African countries on Wednesday shared their vision for an integrated and borderless Africa that would foster economic growth and development. The leaders spoke during a high-level presidential dialogue on day two of the African Development Bank’s 2019 Annual Meetings.
African Development Bank, African Union-NEPAD, partners launch African Agri-Business Engine for private sector agricultural finance with FAPA grant
12-Jun-2019 - The African Development Bank and the Fund for African Private Sector Assistance (FAPA), a multi-donor trust fund financed by the Governments of Japan and Austria, today launched the African Agri-Business Engine (AABE) in Malabo. FAPA provides grants for technical assistance activities in Africa, and is one of the components of the Enhanced Private Sector Assistance (EPSA) initiative hosted at the African Development Bank.
You must be torch-bearing partners in regional integration efforts – African Development Bank VP Guislain tells African bankers
12-Jun-2019 - The African Development Bank Group on Tuesday urged financial institutions in Africa to use their investments and other business portfolios to deepen regional integration efforts for the economic transformation of the continent.
“To integrate Africa, bring down the walls,” Adesina urges at 2019 African Development Bank Annual Meetings Open in Malabo
12-Jun-2019 - African leaders on Wednesday underscored the urgent need to fast-track the continent’s regional integration process in order to accelerate Africa’s economic transformation. The call was made at the opening ceremony of the Bank’s 2019 Annual Meetings, in Malabo, Equatorial Guinea, with the theme: “Regional Integration for Africa’s Economic Prosperity.” “Apart and divided, Africa is weakened. Together and united, Africa will be unstoppable,” the Bank’s President Akinwumi Adesina told delegates at the packed Sipopo Conference Center.
Donors pledge $17 million to Africa Solidarity Trust Fund at African Development Bank Annual Meetings side event
11-Jun-2019 - African and non-regional donors on Tuesday pledged $17 million to replenish the Africa Solidarity Trust Fund, an initiative which aims to provide food security and eliminate rural poverty on the continent.
African Development Bank 2019 Annual Meetings: African Legal Support Facility holds Management Board, Governing Council meetings
11-Jun-2019 - The African Legal Support Facility (ALSF) held its 28th Management Board and 10th Governing Council meetings on 10 and 11 June 2019 respectively, on the margins of the 2019 African Development Bank Group Annual Meetings held in Malabo, Equatorial Guinea. The members reviewed the 2018 activities of the ALSF and discussed the future of the organisation.
African financial institutions play a key role in the continent's regional integration, says African Development Bank Vice-President Pierre Guislain
11-Jun-2019 - African Development Bank Vice-President for the Private Sector, Infrastructure and Industrialization, Pierre Guislain, on Tuesday stressed the major role that African financial institutions play in regional integration. "These institutions finance the private sector, which has to become the engine of Africa's regional integration," said Guislain at the opening of the Association of African Development Finance Institutions (AADFI) workshop on the sidelines of the Bank's Annual Meetings in Malabo, Equatorial Guinea.
Ensuring a colourful and safe meeting environment – Malabo goes the extra mile
11-Jun-2019 - Malabo not only rolled out the red carpet Tuesday for delegates arriving at the ultramodern Sipopo Congress Centre for this year’s Annual Meetings of the African Development Bank Group, it is also making sure that the event takes place in a safe, colourful and entertaining environment. Delegates were warmly greeted by local dancers with many of them waving white handkerchiefs to arriving dignitaries. “No doubt this is the right ambience – it’s peaceful, harmonious, colourful and welcoming. It sets the perfect stage for a meaningful meeting,”...
Central Africa could be the continent’s rising star, thanks to the African Continental Free Trade Area
11-Jun-2019 - Central Africa stands to benefit the most from the African Continental Free Trade Area (AfCFTA), data from the African Development Bank shows. Hanan Morsy, Director of Research at the Bank, revealed the findings at the launch of one of the Bank’s flagship reports in Malabo, where the African Development Bank is hosting its Annual Meetings.
Africa’s regional integration gains momentum at African Development Bank Group Annual Meetings in Malabo
10-Jun-2019 - “If we get integration right, Africa can develop with dignity and confidence,” African Development Bank President Akinwumi Adesina told journalists at a press conference to herald the Bank’s 2019 Annual Meetings, due to open Tuesday in Malabo, Equatorial Guinea. The theme of this year’s meetings is ‘Regional Integration for Africa’s Economic Prosperity.” Regional integration gained momentum with the agreement on the African Continental Free Trade Area (AfCFTA) in March 2018 and is now at the threshold of its launch next month.Cacao : 100 million € de la BAD pour l’appui aux activités préalables à l’exportation et à la chaine de valeur du cacao en Côte d’Ivoire
07-Jun-2019 - Ce projet est dans la droite ligne des objectifs de la BAD, qui entend favoriser une croissance inclusive, tout en répondant aux priorités opérationnelles pour le développement du secteur privé. La facilité, qui constitue une source de financement stable, permettra à SUCDEN CI de disposer des liquidités nécessaires pour préfinancer ses fournisseurs et soutenir les coopératives locales partenaires. De plus, ce financement permettra d’accroitre les exportations de cacao de la Côte d’Ivoire, et aidera à renforcer les capacités des fournisseurs et...Côte d’Ivoire : la Banque africaine de développement accorde un prêt total de 150 millions d’euros pour renforcer le réseau électrique
07-Jun-2019 - Le Conseil d’administration de la Banque africaine de développement a accordé, mercredi 5 juin 2019, deux prêts de premier rang pour le renforcement du réseau électrique, d’une valeur totale de 150 millions d’euros. Un prêt de 100 millions d’euros pour la construction d’une centrale thermique à cycle combiné, fonctionnant au gaz à Taboth, dans le département de Jacqueville (ouest d’Abidjan) ci-après désigné le projet « Atinkou », ainsi qu’un autre de 50 millions d’euros pour l’extension de la centrale thermique à cycle combiné au gaz d’Azito,...Guinée Equatoriale : 26 millions d’EUR de la Banque Africaine de Développement pour le Projet de modernisation des Finances publiques
07-Jun-2019 - Le Conseil d'administration de la Banque Africaine de Développement (BAD) a approuvé, ce mercredi 5 juin 2019, un prêt de 26,5436 millions d’EUR à la République de Guinée Equatoriale en vue de financer le Projet d’appui à la modernisation des Finances publiques (PAMFP). Cet appui institutionnel sera exécuté sur la période 2019-2023, et vise à accompagner les autorités dans leurs efforts de renforcement de la gouvernance et de modernisation de la gestion des finances publiques.African Development Bank, Adaptation Fund, Green Climate Fund convene first Direct Access to climate finance meeting
06-Jun-2019 - To accelerate and enhance Direct Access to climate finance for developing countries that are vulnerable to climate change, the Adaptation Fund (AF), Green Climate Fund (GCF), African Development Bank and South African National Biodiversity Institute (SANBI) are joining forces toCyclones Idaï et Kenneth : plus de 92 millions de dollars de dons accordés aux pays victimes par la Banque africaine de développement
06-Jun-2019 - Trois mois après le passage dévastateur des cyclones Idaï et Kenneth au Mozambique, au Zimbabwe et au Malawi, la Banque africaine de développement a accordé, mercredi 5 juin 2019, un nouveau soutien financier de 92,41 millions de dollars américains pour la mise en œuvre d’un programme de reconstruction d’urgence et de résilience sur quatre ans.Mozambique: African Development Bank offers $50 million for post-cyclone relief
05-Jun-2019 - An international pledging conference to finance the reconstruction of parts of cyclone-hit Mozambique took place in the city of Beira on 31 May and 1 June. Multi-lateral development agencies, international organizations, government representatives, the private sector and civil society gathered at the conference, aimed at soliciting financial support for the effort.