Press Releases
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AfDB concludes 2017 Annual Meetings in Ahmedabad on high note of optimism
25-May-2017 - The African Development Bank Group concluded its 2017 Annual Meetings on Thursday in Ahmedabad, India, on a high note of optimism generated by the Bank’s good balance sheet and the early successes of its High 5 priorities, especially in agriculture and energy.
Gandhi-style to Gangnam-style: Farewell, Ahmedabad; on to Busan – Korea to host the 2018 African Development Bank Group Annual Meetings
25-May-2017 - The Republic of Korea will host the 53rd Annual Meetings of the African Development Bank Group in the port city of Busan on May 21-25, 2018. “I congratulate India on hosting such a successful Annual Meeting here in Ahmedabad,” said Jiyoung Choi, International Financial Institutions Director in the Korean Ministry of Strategy and Finance, speaking at the Closing Ceremony of the Bank’s 52nd Annual Meetings. “And I warmly welcome you to Busan in May 2018.”
“There’s gold in the dirt” – AfDB Annual Meetings end with call to see the potential of African agriculture
25-May-2017 - “With 65% of the world’s uncultivated land, Africa will determine the future of food for the world. There is gold in the dirt, if only we will see it”, said African Development Bank President Akinwumi Adesina as he spoke to press after the Bank’s Annual Meetings in Ahmedabad.
AfDB scales up operations to a record US $11 billion, propelled by the High 5s and New Development and Business Delivery Model
24-May-2017 - With the roll-out of its High 5s priorities and an new Development and Business Delivery Model (DBDM) in 2016, the African Development Bank Group (AfDB), delivered a record US $11.00 billion worth of projects and programs during the year, targeting creation of 630,000 jobs mainly for youths and women, according to the Bank Group’s 2016 Annual Report released at its Annual Meetings in Ahmedabad, India on Wednesday, May 24, 2017.
AfDB explores investment strategies to tilt markets in favour of African farmers
24-May-2017 - The African Development Bank (AfDB) has proposed new investment strategies in Africa’s agriculture sector, which, if properly implemented, would effectively alter the market structures around the world in favour of the African farmers of major cash crops like tea, coffee and cocoa.
Citi bank wins Lifetime Achievement Award at this year’s African Banker Awards
24-May-2017 - Winners of the 2017 African Banker Awards were announced at a prestigious Gala Dinner in Ahmedabad, India. The Awards, held annually on the fringes of the Annual Meetings of the African Development Bank, celebrate excellence in banking and finance on the African continent. No one country dominated the awards this year. The President of Afreximbank, Benedict Oramah, won Banker of the Year. His bank has grown considerably in the past year, whilst other metrics, such as income to cost ratio were very competitive.
Africa remains world’s second-fastest growing region
24-May-2017 - In 2016, Africa as a whole maintained its position as the world’s second-fastest growing economies behind South Asia, according to data released during the Financial Presentation at the African Development Bank Group’s Annual Meetings, which entered its third day on Wednesday in Ahmedabad, India.
Rethinking Land: ALSF identifies innovative approaches to land investment
24-May-2017 - The attendance of two African ministers, an operations director of the International Fund for Agriculture Development (IFAD), and an expert on sustainable investments helped to ensure that the African Legal Support Facility’s (ALSF) high-level roundtable discussion on land investment was as exhaustive and illuminating as possible.
AfDB Annual Meetings open in Ahmedabad: Deliberations underscore win-win Africa-India cooperation
23-May-2017 - The 52nd Annual Meetings of the Board of Governors of the African Development Bank (AfDB) and the 43rdMeetings of the Board of Governors of the African Development Fund (ADF) opened in Ahmedabad, India, on Tuesday, May 23, 2017 with calls for greater cooperation between the Bank and India to help drive Africa’s transformation.
Africa’s future lies in entrepreneurship and industrialization: 2017 African Economic Outlook
23-May-2017 - Africa needs to push for accelerated development by harnessing local resources to boost entrepreneurship and drive its industrialization. Participants at the 52nd Annual Meetings of the African Development Bank Group (AfDB) expressed this view at the release of the 2017 African Economic Outlook (AEO) on Monday, May 22, 2017 in Ahmedabad, India.AfDB and IFC agree to promote investments that benefit women in Africa
23-May-2017 - The African Development Bank Group and the International Finance Corporation signed a memorandum of understanding on Tuesday, May 22, 2017 in Ahmedabad, India, aimed at promoting investments that benefit women in Africa.
AfDB agri-business funding lays strong foundation for transforming African agriculture
23-May-2017 - The African Development Bank (AfDB) has provided a roadmap to the growth of agriculture in African countries with a plan to inject nearly US $2.4 billion every year for 10 years to build roads, irrigation infrastructure and storage facilities within Africa to attract high-value investors. AfDB President Akinwumi Adesina says the Bank has embarked on a comprehensive programme to provide financial guarantees to farmers as well as investing large amounts of resources to build rural feeder roads to connect farmlands within African countries to...AfDB approves US $20-million line of credit to the Development Bank of Rwanda
23-May-2017 - The Board of Directors of the African Development Bank (AfDB) approved on Wednesday, May 17, 2017, a line of credit (LOC) amounting to US $20 million to the Development Bank of Rwanda (BRD) to finance projects or enterprises in various transformational sectors including in agriculture, energy and manufacturing, affordable housing and energy financing sectors, and aims to accelerate broad-based and sustainable economic transformation and poverty alleviation in Rwanda.Intra-African trade is key to sustainable development – African Economic Outlook
23-May-2017 - Trade between African countries has the greatest potential for building sustainable economic development and integration, says African Economic Outlook 2017, a flagship report of the African Development Bank released in Ahmedabad on Day 1 of its 52nd Annual Meetings, which commenced on Monday in the Indian city.
Promoting grey matter infrastructure is a game-changer in Africa’s development agenda
23-May-2017 - Developing Africa’s “grey matter infrastructure” through multi-sector investments in nutrition in Africa was a key focus Monday at the African Development Bank’s Annual Meetings in India.US$ 829 Million Support from AfDB, Partners for Songwe River Basin Program
23-May-2017 - Malawi and Tanzania have agreed to work together for the development of the Songwe River Basin Program (SRBDP). This follows the signing of a Memorandum of Understanding between both parties at a ceremony held in Lilongwe, on May 18, 2017.
“The time for Africa is now – we can’t slow down, we must quicken the pace”: Adesina
22-May-2017 - India is the perfect place for the African Development Bank to focus on the transformative power of agriculture, Bank President Akinwumi Adesina has told the African, Indian and international press. “India is an inspiration to Africa, in that its Green Revolution took just three years. That was in large measure due to the power of political will,” he said Monday, “and you will see much political will on display here at the Bank Group’s Annual Meetings in Ahmedabad in the next few days.”
Unlock the potential of African entrepreneurs to accelerate Africa’s industrial transformation, says the African Economic Outlook 2017
22-May-2017 - African governments need to integrate entrepreneurship more fully into their industrialisation strategies, according to the African Economic Outlook (AEO) 2017 released Monday, May 22 at the African Development Bank Group’s 52nd Annual Meetings.
“Shared opportunities and deepening partnership”: AfDB President sees bright future for Africa and India
21-May-2017 - “Africa-India trade rose five-fold in the last decade and is forecast to double – to US $100 billion – by 2018,” African Development Bank President Akinwumi Adesina said Saturday. Africa and India have development journeys to share, Adesina said, and huge opportunities to explore together, not least in harnessing solar power to promote economic growth, and sharing the know-how of agricultural transformation.