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Lower forecasts, but reason to be hopeful at the World Bank/IMF Annual Meetings

13-Oct-2014 - As the World Bank and International Monetary Fund annual meetings wrapped up in Washington, DC on Sunday, finance ministers and bankers from around the world expressed deep concerns that the global economy is slipping backward. The IMF is now putting 2014 expansion at a tepid 3.3 percent while giving a more hopeful forecast of 3.8 percent in 2015. But a different concern, Ebola, overshadowed the weak economic outlook.

The 9th African Development Forum to focus on Innovative Financing for Africa’s Transformation in Marrakech

13-Oct-2014 - The African Development Bank Group (AfDB) will take part in the 9th African Development Forum, in Marrakech, Morocco, and contribute to high-level discussions aimed to address fast-tracking funding for the continent’s economic and social transformation, and seek immediate solutions to ensure a better future for Africans. AfDB will be represented by its Special Envoy on Gender, Geraldine Fraser-Moleketi, and the Operations Vice-President, in charge of Agriculture, Human Development and Governance, Aly Abou-Sabaa.

Kaberuka and Finance Leaders discuss ways to fast-track emergency assistance

12-Oct-2014 - Addressing financial leaders from around the world, African Development Bank Group President Donald Kaberuka said Saturday that in order to build strong economies there must be cooperation. When it comes to Africa, he said, we “must aim to provide that leadership on gender, on education for every child, on small businesses [and] on finance that works for all.”

Kaberuka holds series of meetings to discuss Ebola strategy

11-Oct-2014 - Washington ­– When it comes to Sub-Saharan Africa, a top International Monetary Fund official said Friday that the overall picture for the region looks good, and it is a trend African Development Bank Group President Donald Kaberuka wants to continue.

African Water Facility supports the development of Komadugu-Yobe Basin in Nigeria

10-Oct-2014 - The African Water Facility announces today, October 10, 2014, that it had offered the Hadejia-Jama'are-Komadugu-Yobe Basin Trust Fund a €2 million grantfor the preparation of a strategic action plan to develop water resources in the Komadugu-Yobe basin in Northern Nigeria. Over 15 million people depend on the basin and stand to benefit from this project, particularly farmers, pastoralists and fishermen.

African Ministers hail ClimDev Special Fund calling it useful and timely

10-Oct-2014 - African Ministers, policy-makers, representatives of development partners and climate scientists on Wednesday in Marrakech, Morocco, hailed the establishment of the ClimDev-Africa Special Fund as another concrete show of commitment by Africa to face the challenge posed by the nefarious impacts of climate change to the continent.

Kaberuka tells Washington audience: “I am bullish on Africa” despite Ebola

10-Oct-2014 - As health organisations warn of a possible pandemic as a result of West Africa’s Ebola outbreak, African Development Bank Group President Donald Kaberuka called for more aid, stronger infrastructure and recovery for the hardest-hit nations. Using this week’s annual World Bank/International Monetary Fund meetings as a platform, Kaberuka said, “I am convinced Ebola will be contained in the current epicentre provided we use all the means at our disposal.”

Leaders Discuss Ebola Strategy in Washington

10-Oct-2014 - As the Ebola death toll continues to rise and fear over the epidemic grows, African Development Bank Group President Donald Kaberuka offered assurances to the international community Thursday morning in Washington, DC. "We can deal with it. We can resolve this matter and the African Development Bank will play its part." The President also called for caution as he addressed world leaders in finance, politics and health at a high-level strategy meeting held at the International Monetary Fund to help fight the disease.

AfDB ranks 8th in Aid Transparency Index 2014

09-Oct-2014 - On Wednesday, October 8, Publish What You Fund launched its annual Aid Transparency Index* (ATI) in Washington, DC. The index shows the African Development Bank (AfDB) is one of the strongest performers on transparency, ranking in the top 10 of 68 donors. The AfDB has made significant progress to improve the transparency of its aid information since 2013.

AfDB approves €10 million equity investment in Moringa Private Equity Fund

08-Oct-2014 - On Wednesday, October 1, 2014 in Abidjan, the Board of Directors of the African Development Bank approved a €10-million equity investment in the African compartment of the Moringa Private Equity Fund.

AfDB marks World Food Day focusing on role of women and youth in agriculture

06-Oct-2014 - The African Development Bank Group joined the international community in celebrating the World Food Day in Abidjan, Côte d’Ivoire, on Thursday, October 16 on the theme, “Investing in Women and Youth is Key to Feeding Africa.” “We are working on flagship programmes, among others, that will support women and youth engagement in agriculture,” the Director of the Bank’s Agriculture and Agro-Industry Department, Chiji Ojukwu, said in a statement.

AfDB approves USD 12 million line of credit to Nigeria’s LAPO Microfinance Bank

06-Oct-2014 - The Board of Governors of the African Development Bank Group (AfDB) through its private sector window approved on Wednesday, October 1 a USD 12 million line of credit (LOC) equivalent in Nigerian Naira (NGN) to LAPO Microfinance Bank (LAPO MfB) in Nigeria.

AfDB approves US $98.22-million loan for biomedical sciences education in East Africa

03-Oct-2014 - The Board of Directors of the African Development Bank Group (AfDB) on Friday, October 3 approved loans amounting to US $98.22 million to finance the first phase of East Africa’s Centres of Excellence for Skills and Tertiary Education in Biomedical Sciences programme in Kenya, Rwanda, Uganda and Tanzania. The project aims to contribute to development of relevant and highly skilled workforce in biomedical sciences to meet East African Community (EAC) immediate labour market needs and support implementation of EAC’s ‘free’ labour market...

AfDB, West African countries sign US $152 million Fight Back Ebola Programme

01-Oct-2014 - The President of the African Development Bank Group and representatives from Liberia, Sierra Leone, Guinea and Côte d’Ivoire on October 1, 2014 in Abidjan signed loan and grant agreements worth US $152 million to fight back the Ebola crisis in West Africa. The signing ceremony took place immediately after the Fight Back Ebola Budget Support Programme was approved earlier in the morning by the AfDB Group Board of Directors, in recognition of the urgent need for liquidities of the concerned countries.

AfDB approves €100-million budget support loan for financial sector development in Morocco

01-Oct-2014 - Efforts by the Kingdom of Morocco to deepen its financial sector received a big boost on Wednesday, October 1, 2014 in Abidjan, following the approval of a €100-million budget support loan to finance the third phase of the government’s Financial Sector Development Support Programme (PADESFI-III) This programme, to be implemented in 12 months to December 31, 2015, will consolidate two previous phases of the programme implemented in 2009 and 2011, respectively. PADESFI-III will focus on creating requisite conditions for inclusive economic growth.

African Economic Conference 2014 to take place in Addis Ababa

01-Oct-2014 - What: African Economic Conference 2014: “Knowledge and Innovation for Africa’s Transformation” Dates: November 1-3, 2014Location: Addis Ababa, Ethiopia The 9th African Economic Conference will take place in Addis Ababa, Ethiopia, on November 1-3, 2014 on the theme “Knowledge and Innovation for Africa’s Transformation”.

USD 2 trillion in investments back Green Bonds to tap USD 100 trillion bond market for climate solutions

30-Sep-2014 - Green Bond commitments announcement for next 12 months by issuers, banks and investors New York, September 29, 2014 – Investors representing over two trillion dollars of assets under management as of September 23, issued an Investor Statement on Green Bonds and Climate Bonds, committing to grow a global market in the financing of climate change solutions. At the same a group of 13 development banks, investors and issuers committed themselves to further developing the Green Bonds market.

Agricultural innovations can help African farmers compete, boost food security, says new report

30-Sep-2014 - Africa must embrace agricultural innovations to better compete in an evolving global bio-economy, according to findings from a new report issued by the African Development Bank (AfDB) and the International Food Policy Research Institute (IFPRI). The report, entitled “GM Agriculture Technologies for Africa,” analyzes the benefits and constraints of adopting genetically modified (GM) technologies to address challenges related to population, poverty, food insecurity and climate change.

AfDB launches Green Growth Framework: “Entry points for action for transition to Green Growth in Africa”

30-Sep-2014 - The African Development Bank (AfDB) has released the first-ever Green Growth Framework that will function as a foundational reference document for its future work on green growth. The framework, called Entry points for action for transition to Green Growth in Africa, outlines the concept of green growth in the African context and builds a shared understanding of entry points for engagement for AfDB staff with the Bank’s regional member countries.

AfDB, Government of Tanzania launch US $57 million in support to Technical Vocational Education and Training Project

30-Sep-2014 - On September 18, 2014, the African Development Bank (AfDB), in collaboration with the United Republic of Tanzania, launched the Technical Vocational Education and Teacher Education (TVET-TE) project worth US $57 million (Sh 92.4 billion) at Mwalimu Nyerere International Conference in Dar es salaam, Tanzania. The project is aimed at increasing access and improve quality of technical and vocational education and training. The AfDB will finance 90 per cent ($52 Million) of the project while Government financing will cover the remaining 10 per...