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AfDB invests US $25 million and mobilizes US $39.5 million from SEFA and GEF in the Africa Renewable Energy Fund

13-Nov-2013 - The Board of Directors of the African Development Bank (AfDB) approved on Wednesday, November 13, a US $65-million equity investment package in the Africa Renewable Energy Fund (AREF) comprised of US $25 million from its statutory resources, US $35 million from the Sustainable Energy Fund for Africa (SEFA) and US $4.5 million from the Global Environment Fa

AfDB Launches E-Consultation on its New Governance Strategy

12-Nov-2013 - The African Development Bank (AfDB) has launched a Web consultation on its new Governance Strategy for 2014-2018 aimed at receiving feedback from all its stakeholders on their expectations on the Bank’s future governance interventions.

Liberia set to transform its renewables sector with $50 million climate fund endorsement

12-Nov-2013 - With African Development Bank (AfDB) backing, Liberia has garnered support for a far-reaching renewable energy investment plan with $50 million from the Climate Investment Funds (CIF) Program to Scale up Renewable Energy in Low Income Countries (SREP).

AfDB and Namibia sign ZAR 2.9 billion loan agreement for the construction of new Port of Walvis Bay Container Terminal

11-Nov-2013 - The African Development Bank Group (AfDB) and Namibia on Friday, November 8, 2013 signed a ZAR 2.9 billion (US $338 million) sovereign guaranteed loan to the Nambian Ports Authority (Namport) to finance the construction of the new container terminal at Port of Walvis Bay and a UA 1.0 million grant (US $1.5 million) to the Government of Namibia for logistics and capacity building complementing the port project loan. The project was approved by the AfDB Group in July 2013.

African Water Facility Turns Waste into Commercial Fertilizer and Energy, While Improving Sanitation Services for the Urban Poor, in Ghana

08-Nov-2013 - The African Water Facility (AWF) signed a €1 million grant in favour of the Ghanaian NGO Training, Research and Networking for Development (TREND) to support an innovative sanitation scheme.

AfDB signs two trade-related programs worth $8.5 million with COMESA

08-Nov-2013 - A delegation from the African Development Bank led by Moono Mupotola, Division Manager, Regional Integration and Trade (ONRI), and Freddie Kwesiga, Resident Representative in Zambia, and comprised of Zambia Country Office, ONRI and Southern Africa Regional Resource Centre officials participated in the inauguration of two Bank-financed trade-related projects, namely: the Tripartite Capacity Building Programme (TCBP) and the COMESA Trading for Peace Project.

African Water Facility Liberia Sanitation Project Selected by UNFCCC as one of 2013 Outstanding Climate Innovations

08-Nov-2013 - The United Nations Convention on Climate Change (UNFCCC) announced Wednesday the selection of the Monrovia Fostering Innovative Sanitation and Hygiene (FISH) project as one of the 17 Lighthouse Activities to be showcased at the November 2013 UN Climate Change Conference in Warsaw, Poland.

AfDB Increases its Capital in Atlantic Coast Regional Fund to Support Local Private Sector Growth in Africa

07-Nov-2013 - The Board of Directors of the African Development Bank (AfDB) approved on Wednesday, October 30, 2013 an additional US $10 million equity investment in Atlantic Coast Regional Fund (ACRF), a 10-year US $72 million generalist private equity fund whose area of focus includes fragile states and low-income countries in Western and Central Africa.

Agriculture Fast Track Fund Now Accepting Grant Applications from African Agri-Business Operators

07-Nov-2013 - The Agriculture Fast Track Fund, a new multi-donor trust fund, managed by the African Development Bank (AfDB), designed to boost investment in Africa’s agricultural sector, is now accepting applications for new grants. Launching the call for proposals, the AfDB’s Agriculture and Agro-Industry department manager, Josephine Mwangi, said: “If you are in the agriculture business and qualify, then we want to hear from you!”

Infrastructure Development in West Africa: AfDB Invests US $20 Million in ARM-Harith Infrastructure Fund

07-Nov-2013 - The Board of Directors of the African Development Bank (AfDB) approved on Wednesday, October 30 a US $20 million equity investment in ARM-Harith Infrastructure Fund (ARMHIF). ARMHIF is a new infrastructure private equity fund based in Nigeria with a targeted fund size of US $250 million.

Pioneering energy project to bring relief to Mano River Union countries

07-Nov-2013 - The Board of the African Development Bank Group (AfDB) approved on Wednesday, November 6 in Tunis the Côte d’Ivoire, Liberia, Sierra Leone and Guinea (CLSG) electricity networks interconnection project.

Under the Auspices of AfDB, Togolese Delegations in Rwanda to Discuss Teaching and Microfinance

06-Nov-2013 - With the assistance of the African Development Bank (AfDB), a high-level 13-person delegation from Togo visited Kigali, from October 20-27, 2013. The objective of the mission was to exchange views on the ways and means of improving the living conditions of Togolese teachers with their Rwandan counterparts. The delegation was led by the Minister of Primary and Secondary Education, Florent Yao Badjam Maganawe, and included a Member of Parliament, the Secretary General for Technical Education, teachers and civil servants.

AfDB rolls out the first capacity building program on Value for Money in Social Service Delivery in East Africa

06-Nov-2013 - On average 40-60% of public expenditure goes to education, health and other types of social spending in Africa, which calls for improved governance, voice and accountability in social service delivery. Large inefficiencies in the use of resources in education and health have a negative impact on human capital, with drastic consequences for inclusive economic growth. In an environment of declining aid, achieving greater value for each dollar invested is critical.  

Leaders vow to make Africa a region of competitiveness and increased well-being

31-Oct-2013 - The eighth annual African Economic Conference concluded today, calling on development and business leaders to turn Africa into a hub of business and development excellence. The conference, jointly organized each year by the African Development Bank (AfDB), the United Nations Economic Commission for Africa (ECA) and the United Nations Development Programme (UNDP), brought together 500 decision-makers and development practitioners.

Trade Barriers are Inimical to Economic Transformation and Regional Integration

30-Oct-2013 - Africa’s political leaders have taken bold steps to strengthen and promote production and competitiveness that would normally accelerate the momentum for regional integration.

AfDB Approves US$16.58 Million to Consolidate Public Finances in DRC

28-Oct-2013 - The African Development Bank Group approved on 24 October 2013 a US$ 16.58 million (UA 10.96 million) African Development Fund (ADF) grant resources to finance the Statistics and Public Finance Institutional Support Project in the Democratic Republic of Congo.

Lesotho : La BAD œuvre à une utilisation équitable et durable des ressources en eau

28-Oct-2013 - Le Groupe de la Banque africaine de développement (BAD) a accordé une aide financière de 15 millions de dollars EU au Lesotho, pour y promouvoir une utilisation durable et équitable des ressources en eau.

AfDB to Cooperate with South Sudan in Water Sector

28-Oct-2013 - The African Development Bank Group has approved a grant for an assessment study of a water supply and sanitation program for 11 small and medium-sized towns in South Sudan.   The USD 5.4 million grant, extended from the Fragile States Facility, will benefit some 170,000 people living in those 11 towns.

Gathering for the African Economic Conference, leaders call for wide-ranging structural change

27-Oct-2013 - Regional Integration Key to Transformation and Development Heads of State and business and development experts from across the world will gather at the three-day African Economic Conference from Monday, October 28 to Wednesday, October 30 in Johannesburg, South Africa, to discuss regional integration and its role in boosting economic growth and human well-being on the continent.

Senegal: AfDB approves US$ 33.5 Million to promote youth and women employment

25-Oct-2013 - The Board of Directors of the African Development Bank (AfDB) Group) on Wednesday, 23 October 2013 in Tunis, approved a loan amounting to US$ 33.5 for Senegal to help the country finance the Project to Support the Promotion of Employment for Youth and Women (PAPEJF).