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AfDB approves road rehabilitation project for Kaolack groundnut basin region in Senegal

29-May-2014 - The Board of Executive Directors of the African Development Bank Group (AfDB) approved on 28 May, 2014 a Transport Sector Support Project for Senegal for the amount of UA 23.77 million (approximately 35.800 million dollars).  The funding is provided through the African Development Fund (ADF) and will serve for the 

Agriculture Fast Track Fund awards four new grants in Mozambique and Tanzania

29-May-2014 - The AfDB’s Agriculture Fast Track Fund (AFT) has awarded four new grants amounting to almost US$2,000,000 to high value agriculture infrastructure projects in Mozambique and Tanzania.

One billion people, one billion opportunities: AfDB approves its first Human Capital Strategy

29-May-2014 - The Board of Executive Directors of the African Development Bank Group (AfDB) approved on May 28, 2014 in Tunis the AfDB’s first Human Capital Strategy (HCS).

AfDB Approves a USD 280 million Trade Finance Package for the African Export Import Bank (Afreximbank)

29-May-2014 - The Board of Directors of the African Development Bank (AfDB) approved on Wednesday, May 28, 2014 a USD 280 million Trade Finance Package for African Export – Import Bank (Afreximbank). The facility consists of a USD 30 million equity investment, a USD 150 line of credit and a USD 100 million unfunded Risk Participation Agreement (RPA) respectively. This composite facility of capital, liquidity and guarantees will help to expand Afreximbank’s risk bearing capacity and provide medium-term funds for financing various trade transactions and...

Agriculture Fast Track Fund awards two new grants with positive impact on local economy in Tanzania

29-May-2014 - The Agriculture Fast Track Fund (AFT) has awarded two grants worth almost US$650,000 to high value agriculture infrastructure projects in Tanzania. Tanga Fresh UHT Milk Factory and Kijani Agro Integrated Horticulture projects have been selected for their strong impact on local communities in Tanzania.

AfDB charges Snamprogetti Netherlands B.V. US $5.7 million in monetary sanction for corrupt practices

28-May-2014 - Snamprogetti Netherlands B.V. admits to corrupt practices from 1995 until 2004 by affiliated companies in relation to the award of AfDB-financed services contracts for liquefied natural gas production plants on Bonny Island, Nigeria.   

Sierra Leone, AfDB provides US $10 million grant for public financial management

27-May-2014 - The African Development Bank Group and the Government of Sierra Leone have committed to good governanceand to tackling corruption, with a view to building a stronger economy. This falls within the country’s inclusive economic management program, aimed to sustainable development and shared economic growth.

AfDB signs the first grant agreement with post-revolution Libya

23-May-2014 - The African Development Bank (AfDB) Group, on Thursday, May 22, 2014 in Kigali, signed its first post-revolution grant agreement with the Libyan authorities, to assist with leadership capacity building and democratic transition in the country. The grant amounts to US $3.5 million to strengthen the efficiency and effectiveness of the Libyan institutions to deliver democratic governance and sustainable economic and social development.

African leaders call for harmonized approach to conflict prevention, management

23-May-2014 - A high-level panel comprised of former African leaders including Nigeria’s Olusegun Obasanjo and South Africa’s Thabo Mbeki has recommended the need for African countries to develop an early warning mechanism that will help them to prevent conflicts, during a session held late Tuesday at the ongoing Annual Meetings of the African Development Bank (AfDB) in Kigali.

Mauritania: AfDB funding emergency humanitarian relief for flood victims

23-May-2014 - "The AfDB is a preferential partner of Mauritania. It has funded various projects in the country and helped to improve socio-economic conditions for the Mauritanian population," stated Diomba Thiam, Minister of Finance for Mauritania, at the African Development Bank’s Annual Meetings in Kigali.

"The Africa50 Fund to build the Africa of tomorrow": AfDB President Donald Kaberuka

23-May-2014 - The closing press conference of the 49th Annual Meetings of the African Development Bank (AfDB) on Thursday, May 23 in Kigali once again gave AfDB President Donald Kaberuka an opportunity to return to the concept of the Africa50 Fund. According to Kaberuka, "The Africa50 Fund is a simple concept adopted after 12 months of preparation, based on the mobilisation of African savings to finance African infrastructure.

AfDB’s 2014 Annual Meetings End in Kigali

23-May-2014 - The 49th Annual Meetings of the African Development Bank (AfDB) and the 40th meetings of the African Development Fund (ADF) closed on Friday, May 23, 2014 in Kigali, Rwanda, after five days of exhaustive deliberations on key African and global development issues.

Climate change financing: AfDB and the Nordic Development Fund ink 5 million euro grant

23-May-2014 - The African Development Bank (AfDB) and the Nordic Development Fund (NDF) have decided to join forces in their bid to deal with climate change. To concretize their ambition, the two entities on Thursday, May 22 in Kigali, signed a 5 million euro grant agreement. Climate change is also one of the strategic issues raised during the Annual Meetings, on the theme: “The next 50 years, the Africa we want”.

President Kagame officially opens AfDB 2014 Annual Meetings, commends Bank for its development work in Africa

22-May-2014 - Rwanda’s President, Paul Kagame, officially opened the African Development Bank’s Annual Meeting on Thursday, May 22, 2014 in Kigali, commending the Bank for its huge contributions to Africa’s development.

Down Memory Lane: Tracking AfDB’s footprint in Africa’s development

22-May-2014 - The African Development Bank Group’s 2014 Annual Meetings provides an opportunity to trace the institution’s development journey in line with the meetings theme: “The Next 50 Years: The Africa We Want.” The financial presentation of the Bank’s operations provided a fertile ground to assess its accomplishment and envision the way forward.

AfDB announces a 60 billion CFA francs loan to fund water and sanitation project in Senegal

22-May-2014 - On 22 May 2014, the African Development Bank (AfDB) announced a loan of 60 billion CFA francs (approximately US $127 million) to Senegal for a water and sanitation project. The aim of the project is to make the sector more viable and improve socio-economic conditions for the Senegalese population.

AfDB announces US $2 billion fund with China

22-May-2014 - The African Development Bank (“AfDB”) and the People’s Bank of China (“PBOC”) on Thursday, May 22 entered into a US $2 billion co-financing fund to be known as the Africa Growing Together Fund (“AGTF”).  The resources from the AGTF are expected to be provided over a 10-year period and will be used alongside the AfDB’s own resources to finance eligible sovereign and non-sovereign guaranteed development projects in Africa.

Mapping for results: It all comes together in one big picture

21-May-2014 - The African Development Bank (AfDB), on Wednesday, May 21 in Kigali, launched MapAfrica, an interactive, online platform that charts the Bank’s investments in Africa. To communicate results with even more clarity, the AfDB, in partnership with Aid Data, unveiled the new geocoding tool at the Bank’s Annual Meetings in the Rwandan capital. MapAfrica helps the Bank to ensure it allocates its resources to greatest effect. At the same time, it will give its stakeholders a better understanding of the Bank’s activities and their impact on local...

Africa on the mend: Staying the course on transformation

21-May-2014 - In six years’ time, in 2020, 22 African countries will be growing at more than 6%, with 5.7% growth projected for the continent in 2013, according to the Annual Development Effectiveness Review 2014, released on Wednesday, May 21, 2014 in Kigali, Rwanda.

Africa’s economic performance in 2013 demonstrates resilience to global headwinds

21-May-2014 - Africa recorded nearly 4% GDP growth in 2013, a two-percentage point decline compared to 2012, according to the 2013 operations results released by the African Development Bank Group (AfDB) on Wednesday, May 21 in Kigali, Rwanda.