Press Releases
Displaying 1201 - 1220 of 5333
Libya: African Development Bank grants $0.5 million emergency relief assistance for PPE protection against COVID-19
09-Jul-2020 - The Board of Directors of the African Development Bank have approved a grant of $480,000 to Libya under the Special Relief Fund (SRF) for the procurement of much-needed personal protective equipment (PPE) intended for treatment of cases of infection of the novel Coronavirus. The Bank’s funding will contribute to supporting the country’s national Response Plan for COVID-19. The assistance is intended to focus on infection prevention and control and to shield communities, particularly those most vulnerable including the health workers.
Post COVID-19: Africa’s growth stands to rebound to 3% in 2021, African Development Bank says in African Economic Outlook 2020 Supplement
07-Jul-2020 - Africa’s economic growth could rebound in 2021, provided that governments manage the COVID-19 infection rate well, according to updated forecasts from the African Development Bank, released on Tuesday. In a comprehensive socio-economic assessment of the pandemic’s impact, the Bank said growth was now projected to rebound to 3% in 2021 from -3.4% in the worst-case scenario for 2020.Tanzania: African Development Bank project tripled incomes of rural producers and traders
07-Jul-2020 - An African Development Bank project to enhance market infrastructure, value addition and rural finance (MIVARF) in Tanzania produced highly satisfactory results, according to a report released by the project team. The project, rolled out in the country between 2012 and 2017 increased the incomes of rural producers and traders threefold.
Global experts call for a radical health policy shift in post COVID-19 Africa
06-Jul-2020 - Global health experts and practitioners at a policy webinar hosted by the African Development Institute (ADI) called for a “Marshall Plan on Inclusive Health in Africa.” There is an urgent need for inclusive health policy in Africa – one that can detect and interpret warning signs and rapidly mobilize to isolate threats, absorb and adapt to shocks, and organically innovate new strategies to maintain its core functions, the delegates said.
Madagascar: African Development Bank provides $2.13 million for farmers to cover drought-related economic losses
04-Jul-2020 - The African Risk Capacity Insurance Company presented a cheque for $2,126,803 to the Republic of Madagascar to cover anticipated livelihood losses for 600,000 vulnerable Malagasy people due to drought-related crop failures in the recent farming season. The funds will help farmers in the country’s hard-hit “Great South” region avoid resorting to consuming their seeds, selling farm tools or migrating in search of work and food.
Ethiopia: African Development Fund approves $165 million grant for national COVID-19 emergency response
03-Jul-2020 - The Board of Directors of the African Development Fund (ADF) on 3 July approved a grant of $165.08 million to support Ethiopia’s response to the health and economic impacts of the COVID-19 pandemic, including helping to ease fiscal pressures on the economy.African Development Bank concludes R2 billion investment in Nedbank SDG-linked bonds
03-Jul-2020 - The African Development Bank Group has concluded the investment of R2 billion (around $116 million) in Sustainable Development Goals-linked bonds (SDG bonds) issued by Nedbank South Africa. This investment, which is listed on the green bonds segment of the Johannesburg Stock Exchange, will strengthen Nedbank’s capital base and enable it to generate R12 billion ($696 million) in new loans and investments in environmentally friendly and climate-sensitive projects in areas such as renewable energy and affordable housing.African Development Bank joins WTO and other MDBs to support trade finance amid COVID-19 crisis
02-Jul-2020 - The African Development Bank Group has joined the World Trade Organisation and other multilateral development banks to reduce trade finance gaps that emerge as a result of the COVID-19 pandemic. In a joint press release issued 1 July 2020, the institutions said they would prioritize their support to areas in the world where such support is needed most, particularly the poorest countries.Les petites et moyennes entreprises ont besoin de restructuration financière et de repositionnement stratégique après la crise du Covid-19
30-Jun-2020 - Le partenariat « Making Finance Work for Africa » (MFW4A) a organisé, le 25 juin dernier, un webinaire sur « le financement des petites et moyennes entreprises dans le contexte du Covid-19 », au cours duquel les participants ont souligné la nécessité d’aider à la restructuration financière et au repositionnement stratégique des PME après la crise.
African Development Fund approves $9.52 million to enhance coordinated COVID-19 response in East and Horn of Africa and the Comoros
30-Jun-2020 - The Board of Directors of the African Development Fund (ADF) have approved grants totaling $9.52 million to strengthen responses to the COVID-19 pandemic in East Africa and the Horn, and in the Comoros. The grant, approved on 26 June, is part of the $10 billion COVID-19 Rapid Response Facility (CRF) approved by the Board of Directors in April 2020 and complements the Bank’s direct support to regional member countries across the continent.
Development Finance Institutions commit to support Sudan’s transformation
30-Jun-2020 - Three leading international financial institutions, the African Development Bank, the World Bank, and the International Monetary Fund (IMF), on Thursday pledged multi-pronged support to Sudan as it opens a new chapter to overcome political and economic challenges. At a high-level Sudan Partnership Conference held virtually and hosted in Berlin on 25 June, the three multilateral organizations and several governments affirmed their strong support for the country’s Transitional Government and its economic recovery efforts.
International community shows strong support for Sudan with $1.8 billion pledge
26-Jun-2020 - Over $1.8 billion dollars in pledges for Sudan poured in during a high-level Sudan Partnership Conference held on Thursday, 25 June 2020, marking an important step in the African nation’s re-engagement with the international community.Ghana Cocoa Board, African Development Bank and financial partners celebrate first $200 million disbursement of loan to boost cocoa productivity in Ghana
26-Jun-2020 - Ghana Cocoa Board (COCOBOD) and lenders have welcomed the first disbursement of $200 million of a syndicated loan facility to boost cocoa productivity in the world’s second-largest producer.
Gabon: African Development Bank approves 100.5 million euros budget support for COVID-19
26-Jun-2020 - The Board of Directors of the African Development Bank has approved a 100.5 million euros loan to the government of Gabon as budget support to mitigate against the effects of the COVID-19 outbreak. The loan will support the central African nation’s Budget Support Programme in Response to the COVID-19 Crisis or PABURC, which aims to strengthen the health system and mitigate the socio-economic impact of the pandemic on households and businesses.
African countries making headway in tackling tax evasion and money laundering, 2020 Tax Transparency report says
26-Jun-2020 - African countries made great strides in strengthening commitments and capacity to achieve tax transparency and exchange information on illicit fund flows in 2019, the latest Tax Transparency in Africa report, launched Thursday, revealed.
African Development Fund approves COVID-19 Response grants for six Southern African countries and São Tomé & Príncipe
25-Jun-2020 - The Board of Directors of the African Development Fund on Tuesday approved nearly $8.9 million in grant funding to bolster COVID-19-related control measures in six Southern African Development Community (SADC) countries. Separately, the Board approved $683,000 in grants to São Tomé & Príncipe, to support the two-island nation’s response to the pandemic and its impacts. The grant funding comes under the Bank’s COVID-19 Response Facility.Rwanda: African Development Bank awards $1.1 million grant to expand meat production
25-Jun-2020 - The Board of Directors of the African Development Bank have approved a grant of $1.1 million to Rwanda for the implementation of the country’s Meat Value Chain Trade Competitiveness Project. The approval for the grant, made on 5 June 2020, will help to expand the east African nation’s meat production value chain, enhance market access and cross border trade, and increase the contribution of the sector to the Rwandan economy. The grant is awarded from the resources of the African Trade Fund (AfTRA).
African Development Bank ranks 4th on global index of transparency
24-Jun-2020 - Publish What You Fund has ranked the African Development Bank fourth out of 47 global development institutions on its Aid Transparency Index. The Index is the only independent measure of aid transparency among the world’s major development agencies. The index places the Bank in the highest category of transparency along with other world class institutions such as the World Bank, the Asian Development Bank and UNDP.
Infrastructure Symposium “is laying a path for South Africa after coronavirus, but also way into the future.” - President Ramaphosa
23-Jun-2020 - South African President and African Union Chairperson, Cyril Ramaphosa today hosted a historic conference to spur infrastructure investment in his country and inspire similar efforts in the rest of the continent. “South Africa, within the AU family, has been given responsibility for championing infrastructure development. It is through these objectives we will be able to attain the objectives and aspirations we have set out in Agenda 2063. This is truly a historic moment for South Africa, the continent and the world.”