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AfDB enhances operational capacity to track climate finance in development projects
23-Jul-2013 - African Development Bank experts in energy, transport, water supply and sanitation, agriculture, and forestry have begun hands-on training to implement a solid approach to track climate finance flows in Bank-funded development projects.The AfDB SME Program Approval: Boosting Inclusive Growth in Africa
22-Jul-2013 - The Board of Directors of the African Development Bank (AfDB) approved today the Africa Small and Medium Enterprises (SME) Program, a four-year, US $125-million funding program combined with a US $3.98-million technical assistance package granted by the Fund for African Private Sector Assistance (FAPA), aiming at supporting micro, small and medium enterprises (MSMEs) in Africa.Africa’s Institutions Endorse AfDB’s Africa50 Fund to support Infrastructure Financing
20-Jul-2013 - In a joint declaration issued in Tunis, Tunisia, on 19 July 2013, African institutions endorsed the AfDB’s Africa50 Fund as Africa’s vehicle to facilitate large-scale mobilization of resources and to unlock international private financing with a view to addressing Africa’s infrastructure gap. During the meeting the heads of key African political, economic and finance institutions “pledged to work together towards building Africa50Fund”.Multilateral Development Institutions Support a Robust Vision for Sustainable Development in Post-2015
17-Jul-2013 - The leaders of seven multilateral organizations have issued a joint appeal for global support of a report issued by a high-level UN panel that calls for ending extreme poverty and promoting sustainable development.AfDB approves up to US $150 Million Line of Credit to Fidelity Bank in support of Nigeria’s Economic Growth
17-Jul-2013 - The Board of Directors of the African Development Bank (AfDB) approved today a US $75-million medium-term line of credit (LoC) to Fidelity Bank Plc to fund selected projects in sectors that are critical to Nigeria’s transformation agenda and economic growth such as infrastructure, manufacturing and Small and Medium Enterprises (SMEs). The LoC will be complemented by AfDB arranged-syndicated financing of up to US $75 million on a best-effort basis.AfDB Continues to Support Low-carbon Development Pathways for Africa
12-Jul-2013 - For the fifth time the African Development Bank was a co-organizer of the Africa Carbon Forum (ACF) along with UN agencies, the World Bank and the International Emissions Trading Association (IETA). This important forum was held from July 3-5, 2013 in Abidjan, Côte d’Ivoire. Given the challenges of the current carbon market, ACF reflected on how the Kyoto Protocol’s Clean Development Mechanism (CDM) and other mitigation and financing mechanisms have performed to date ad discussed how those mechanisms could continue to be successfully applied...The AfDB’s Open Data Platform achieves continent-wide coverage
11-Jul-2013 - The African Development Bank’s Open Data Platform is now operational for the entire African continent. This follows the completion in July 2013 of the last phase of the project for the following 14 African countries: Benin, Comoros, Côte d’Ivoire, Djibouti, Equatorial Guinea, Eritrea, The Gambia, Guinea-Bissau, Liberia, Kenya, São Tomé and Príncipe, Sierra Leone, Swaziland, and Togo. Statistical data for all 54 African countries are now available to all users.AfDB Group in North Africa in 2013: Promoting Resilience and Inclusive Growth
11-Jul-2013 - The African Development Bank (AfDB) encourages North African countries to find ways of building resilience against crises that could threaten economic and social stability. In its 2013 Annual Report on North Africa, the Bank stresses the need to focus on inclusive development in order to tackle the long-standing socio-economic problems that have destabilized the region in recent years.Africa is Now the Fastest Growing Continent in the World
11-Jul-2013 - Africa is now the fastest growing continent in the world, the African Development Bank’s Annual Development Effectiveness Review 2013 states. The report, just published, says this growth has been driven mainly by improved economic governance on the continent and the private sector. “Africa’s economic growth could not have happened without major improvement in economic governance.ADF and SEFA provide USD 7.5 million to support geothermal potential in Djibouti
08-Jul-2013 - A new project supported by the African Development Group (AfDB) plans to exploit the geothermal potential in the Lake Assal region to enable Djiboutian population’s access to a reliable, renewable and affordable source of energy. Currently Djibouti relies mostly on fossil fuels and some hydropower imports from Ethiopia. The majority of the country’s current generation capacity is situated in Djibouti City. The existing power stations are old, polluting and expensive to operate. In addition, fuel imports are expensive and require important...AfDB to Deepen Reforms that are Key to ‘Power Africa’ Success
03-Jul-2013 - The African Development Bank (AfDB) will, as part of its support for U.S. President Barack Obama’s Power Africa initiative, deepen and expand its work in reforming the energy sector. Already a major investor in the energy sector, the AfDB will scale funding for energy production, transmission and distribution infrastructure, cross-border power pools, as well as government policy and regulatory reforms. The Bank will particularly emphasize reforms for national power utilities, many of which are in need of better business models and financial...AfDB and Global Environment Facility to Strengthen Climate Change Adaptation with USD 33.58 million
02-Jul-2013 - The Global Environment Facility Council has approved a grant of USD 11.3 million, to be channeled through the AfDB, for climate adaptation activities in Cameroon, Djibouti and Kenya.AfDB Strengthens Openness Under the International Aid Transparency Initiative
01-Jul-2013 - The African Development Bank Group (AfDB) launched on 1 July 2013 in Tunis, Tunisia its data in line with the International Aid Transparency Initiative (IATI) standard.AfDB’s Kaberuka Heads to Tanzania: Energy in Focus
27-Jun-2013 - African Development Bank (AfDB): President Donald Kaberuka arrives in Tanzania at the weekend for the visit by US President Barack Obama, whose focus will include an initiative to foster economic growth and development in Africa through increased access to reliable, affordable, and sustainable power.Millennium Development Goals 2013 Report: Assessing Progress in Africa
26-Jun-2013 - Africa needs to do more to reduce its inequalities if it is to optimize economic growth and see a substantial reduction in poverty, a report (2013) on its progress towards the attainment the Millennium Development Goals (MDGs) states.AfDB Approves US$ 80 million Loan to Boost Agribusiness in Africa
26-Jun-2013 - The Board of Directors of the African Development Bank (AfDB) approved on 26 June 2013 a senior loan of USD 80 million in local currencies for OLAM Africa Investment Program (OAIP) to deepen the integration of OLAM Group’s agricultural value chain by investments in processing of wheat and palm oil in Africa. The program includes five sub-projects in Cameroon, Ghana, Mozambique and Senegal.AfDB and IILM Strengthen Cooperation to Mobilize Resources on Islamic Finance Markets
25-Jun-2013 - The African Development Bank (AfDB) Operations Vice-president, Zondo Sakala and the CEO of the International Islamic Liquidity Management Corporation (IILM), Rifaat Abdelkarim, on 24 June 2013 in Tunis inked a Memorandum of Understanding (MoU), to build robust partnership to promote liquidity management. This MoU signing comes on the heels of the AfDB’s new trust fund reform policy, shifting from bilateral to multi donor and thematic trust fund.AfDB Approves a US$ 5.7 Million Trust Fund for Governance and Accountability
21-Jun-2013 - The African Development Bank’s Board of Executive Directors approved a Multi Donor Trust Fund of US$ $5.7million to support Value for Money, Sustainability and Accountability programs in Africa (VFM). The Fund has been created with the support of the Government of Norway and the Global Alliance for vaccines and Immunisation (GAVI) and will be administered by the African Development Bank. Several other donors have expressed interest in pooling resources into this Fund.AfDB approves US$ 18 million for Livestock Infrastructure in Zambia
20-Jun-2013 - The African Development Bank (AfDB) Group approved on 19 June 2013, a US$ 18 million (UA 12 million) African Development fund (ADF) concessional loan to Zambia to finance the Country’s Livestock Infrastructure Development Support Project (LISP). The project aims to improve smallholder livestock production and productivity, create market linkages and increase household income in nine districts in the Northern and Muchinga Provinces of Zambia. The specific project objectives are to: