Press Releases
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African Development Bank Group supports Ghana’s COVID-19 response plan with $69 million grant
24-Jul-2020 - The Board of Directors of the African Development Fund (ADF) on Friday approved a $69 million grant to support Ghana’s efforts to tackle the COVID-19 pandemic and mitigate its socio-economic impact on the nation. The grant from the ADF, the concessional arm of the African Development Bank, will provide fiscal budget support to finance the government’s national COVID-19 Emergency Preparedness and Response Plan, and Coronavirus Alleviation Program.African Development Bank approves $53 million multi-country grant for COVID-19 response in Gambia, Liberia and Sierra Leone
24-Jul-2020 - The African Development Bank’s Board of Directors on Friday approved a UA 38.15 million ($53.25 million) multi-country grant to The Gambia, Liberia and Sierra Leone in the form of direct budget support to bolster efforts to fight the COVID-19 pandemic in the three West African countries. The grant from the African Development Fund (ADF), aims to mitigate the impact of COVID-19 in The Gambia, Liberia and Sierra Leone – known collectively as the GLS countries – by providing budget support to help fund each country’s COVID-19 crisis response.G5 Sahel : la Banque africaine de développement accorde 285 millions de dollars pour la lutte contre la pandémie de Covid-19
23-Jul-2020 - Le Conseil administration de la Banque africaine de développement a approuvé, mercredi 22 juillet à Abidjan, un appui budgétaire de 284,8 millions de dollars américains pour soutenir les efforts des pays du G5 Sahel (Burkina Faso, Mali, Mauritanie, Niger, Tchad) dans la mise en œuvre de leurs plans de riposte à la pandémie de Covid-19 et de relance économique.
Financial, development and humanitarian arms provide $20 million to curb the impact of COVID-19 on refugees and their hosts in the Sahel
23-Jul-2020 - Public health, the wellbeing of refugees and the host communities in the Sahel are at the heart of the latest tripartite agreement between the African Development Bank (AfDB), UNHCR, the UN Refugee Agency and the G5 Sahel signed today. The agreement enables a critical $20 million COVID-19 response across the five countries of the Sahel region.Malawi to receive $45.07 million for national COVID-19 emergency response from the African Development Bank
23-Jul-2020 - Malawi will receive $45.07 million to finance the government’s response to the health, social and economic impacts of the COVID-19 pandemic, following a decision by the Board of Directors of the African Development Fund (ADF) held Wednesday. The package comprises a loan of $24.48 million, and a grant of $20.59 million as direct budget support, and complements an earlier sum of $8.9 million to six countries in the region, including Malawi, under the Bank’s COVID-19 Response grants to the Southern African Development Community (SADC) countries...African Development Bank commits $1.04 million towards two COVID-19 research projects in Angola
23-Jul-2020 - Funds from the African Development Bank’s ongoing Science and Technology Development Project have been committed towards two research projects to mitigate the novel coronavirus (COVID-19) in Angola.
African Development Fund approves UA100.4 million multi-country Covid-19 Response Support for Malawi, Madagascar, Mozambique and Sao Tome
23-Jul-2020 - The Board of Directors of the African Development Fund (ADF) on Wednesday approved a UA100.4 million (about $138 million) crisis budget support package to four southern African countries – Malawi, Madagascar, Mozambique and São Tomé & Príncipe, in the wake of the COVID-19 pandemic.
South Africa: African Development Bank approves first ever crisis response budget support of R5 billion to fight COVID-19
22-Jul-2020 - The Board of Directors of the African Development Bank has approved a loan of approximately R5 billion ($288 million) to the government of South Africa, as the country battles one of the largest COVID-19 caseloads in the world. South Africa confirmed its first case of COVID-19 on 5 March 2020 and is currently the most affected in Africa, and among the top five in the world in terms of confirmed cases (381,798 as at 22 July, with 5,368 deaths).In Ghana, African Development Bank-funded training builds skills for the economy of the future - report
21-Jul-2020 - A six-year project to develop industrial skills among Ghana’s workforce has improved the engineering and manufacturing skills of young people, promoted economic competitiveness and contributed to an improvement in the quality of life of beneficiaries and a reduction in poverty, according to an African Development Bank report issued on 15 July 2020.
Fitch Rating Agency Affirms Triple A (AAA) Rating of the African Development Bank, with Stable Outlook
21-Jul-2020 - Fitch Ratings, the global credit rating agency, has affirmed the African Development Bank’s (AfDB) Long-Term Issuer Default Rating (IDR) at ‘AAA’, with stable outlook. According to the agency, “the ‘AAA’ rating of the AfDB is driven by extraordinary support it receives from its shareholders, which Fitch Ratings assesses at ‘aaa’”. It judged the Bank’s risk management policies as conservative and excellent in line with ‘AAA’ rated regional peers.
African Development Bank set to join landmark $20 billion Mozambique LNG financing
21-Jul-2020 - The African Development Bank has concluded its bid to co-finance the construction of Mozambique's integrated Liquefied Natural Gas (LNG) plant by signing a senior loan of $400 million for the transformational project. The Mozambique LNG Area 1 Project, estimated to cost over $20 billion, is ranked Africa's single largest foreign direct investment to date. It comprises a global team of energy developers and operators, led by Total alongside Mitsui, Oil India, ONGC Videsh Limited, Bharat Petroleum, PTT Exploration, as well as Mozambique's...
Africa Investment Forum: Founding Partners unveil Unified COVID-19 Response to support Africa’s private sector
20-Jul-2020 - Increased and decisive investment will be the channel for Africa’s economic recovery post COVID-19, partners of the Africa Investment Forum said on Friday, expressing confidence in the continent’s potential to rebound from the ongoing health and economic crises.
African education experts push for more virtual learning to cushion against pandemics - ADEA webinar
17-Jul-2020 - Africa must develop new education models that feature well-resourced virtual teaching and learning schemes to insulate it against disruptions due to disasters such as the COVID-19 pandemic, experts at a webinar hosted by the Association for the Development of Education in Africa (ADEA) said. The panelists, including Ministers of Education and senior officials of the Bank, called for a new approach to the professional development of teachers to enable them to embrace the new digital delivery model.« Perspectives économiques en Afrique 2020 » : l’Afrique centrale devrait agir sur le développement de compétences et de capacités adaptées aux réalités économiques
17-Jul-2020 - Confrontés à des prévisions de croissance revues à la baisse en raison de la pandémie de Covid-19, les pays d’Afrique centrale devraient mettre en œuvre des programmes de développement de compétences et de capacités nouvelles adaptées aux réalités économiques actuelles et à venir, selon les « Perspectives économiques en Afrique centrale 2020 » de la Banque africaine de développement présenté, en visioconférence ce jeudi 16 juillet.
Affirmative Finance Action for Women in Africa, ImpactHER and UN Women Policy Brief exposes disadvantages to women entrepreneurs in post COVID-19 era, offers solutions
16-Jul-2020 - Women-led businesses are more vulnerable to closure than those led by men in the era of the novel coronavirus, due to women’s limited access to finance, shifts in consumer behavior, and the increase in women’s household care responsibilities as a result of extended lockdowns. All across the continent, the coronavirus pandemic is wreaking economic havoc and hitting women the hardest, with women-led Small and Medium-sized Enterprises(SMEs) at greater risk of closure as they tend to be smaller and on average, operate in lower profit margin,...Niger: the African Development Bank enhances food security for nine million people (report)
15-Jul-2020 - The Water Mobilisation Project to Enhance Food Security in Maradi, Tahoua and Zinder Regions (PMERSA-MTZ), implemented between 2011 and 2018 in Niger, has sustainably increased agricultural production and productivity and increased food security for nearly nine million residents of this Sahelian country, according to a report by the African Development Bank.
Africa Road Builders Babacar Ndiaye Trophy 2020: Egyptian president to receive Great Road Builder Award
14-Jul-2020 - Egyptian president Abdel Fattah Al-Sisi was awarded the Babacar Ndiaye Great Road Builder Award it was announced Monday, a distinction for heads of state whose countries initiate outstanding projects or achievements in relation to the development of roads, transportation and mobility.
Tribute: Prime Minister Amadou Gon Coulibaly
11-Jul-2020 - July 8 was all like every normal day, focused on work. I had no inkling there would be a storm, even though we have weathered many storms and floods in Abidjan in recent times. Like a jolting bolt of thunder, everything changed when my wife, Grace, called my attention to a news item that the Prime Minister Amadou Gon Coulibaly had died. I told her this couldn’t be true as he just came back and as far as I knew he was fine.
East Africa holds its ground as Africa’s fastest growing region, despite COVID-19 disruption
10-Jul-2020 - Economic disruption caused by the COVID-19 pandemic has pushed East Africa’s growth projection for 2020 down to 1.2 percent, a rate that outstrips other African regions and is forecast to rebound to 3.7 percent in 2021, according to the African Development Bank’s East Africa Regional Economic Outlook 2020. The projection is under the baseline scenario that assumes the virus is contained by the third quarter of this year.