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South Sudan: African Development Bank, ATI support leads to US$ 27.62 million in commercial risk insurance cover

25-Apr-2019 - 25-Apr-2019 - South Sudan has this month realised a record $27.62 million in commercial risk insurance cover through the efforts of the South Sudan government, the African Development Bank and the Africa Trade Insurance Agency (ATI). ATI has, to date, provided gross risk cover to facilitate investments in the electricity, gas, water supply and financial and insurance sectors. South Sudan is also expected to benefit from a $100 million trade facility from the Trade and Development Bank (TDB). The facility will focus on strategic commodities,...

Country Results Brief 2007-2018 - The African Development Bank: a decade of key partnership with Guinea

25-Apr-2019 - 25-Apr-2019 - The African Development Bank on Wednesday released its most recent Country Report Brief for Guinea. The report highlights the West African nation’s progress over the past 10 years, aided by the Bank, particularly in the areas of economic and financial governance, agriculture, road and energy infrastructure, living conditions. The report also underlines the many challenges Guinea faces in exploiting its vast development potential, withstanding potential shocks and enhancing the benefits of economic growth for its people. The ...

Malawi: African Development Bank boosts cyclone response with emergency relief package and measures to combat climate change

24-Apr-2019 - 24-Apr-2019 - Malawi’s recovery and reconstruction plans in the aftermath of Cyclone Idai has received a boost from the African Development Bank, which is supporting the country with an emergency relief package and measures to combat the effect of climate change in the Southern African region.  Mateus Magala, the Bank’s Vice President for Corporate Services and Human Resources, led a delegation to Lilongwe this week, to discuss the institution’s intervention plans with public and civil society officials in Malawi. Magala had meetings with...

La Banque africaine de développement soutient la lutte contre le travail des enfants dans les mines de cobalt en RDC

19-Apr-2019 - 19-Apr-2019 - Pour lutter contre le travail des enfants dans les mines de cobalt en République démocratique du Congo (RDC), la Banque africaine de développement a approuvé, mercredi 17 avril 2019, un financement de 84,36 millions de dollars américains en faveur du Projet d’appui au bien-être alternatif des enfants et jeunes impliqués dans la chaîne d’approvisionnement du cobalt (PABEA-Cobalt). Les administrateurs du Groupe de la Banque africaine de développement ont donné leur feu vert à cette aide, composée d’un prêt de 45,19 millions de...

African Legal Support Facility supports $200 million energy plant in Rwanda

18-Apr-2019 - 18-Apr-2019 - The African Legal Support Facility has provided advisory services support to the Government of Rwanda for the negotiation of its deal with Symbion Power to develop a $200-million-dollar energy plant by Lake Kivu in Rwanda, signed on 29 March 2019. The energy plant is expected to generate an additional 56 MW of electricity for Rwanda, marking a significant step in Rwanda’s efforts to increase its installed power generation capacity by 291MW to 512MW by 2024. The plant will extract methane gas from the production area at Lake Kivu...

We-Fi Regional Summit Calls for Urgent Public and Private Sector Action to Support Women Entrepreneurs in West Africa

17-Apr-2019 - 17-Apr-2019 - Heads of state, ministers, leaders of multilateral development banks, private sector executives, women entrepreneurs, and contributing governments of the Women Entrepreneurs Finance Initiative (We-Fi) convened today at the first We-Fi Regional Summit to discuss concrete ways to strengthen support for women-led small and medium-sized enterprises (SMEs) in West Africa. Attended by more than 400 public and private sector leaders from West Africa and other regions, the Summit was organized by We-Fi in collaboration with the African...

Angola: African Development Bank organizes roadshow to whet investor interest ahead of Africa Investment Forum 2019

16-Apr-2019 - 16-Apr-2019 - The African Development Bank has organised a roadshow to drum up support from Angolan investors ahead of the second edition of the Africa Investment Forum (AIF) in November 2019. The Angola Country Office of the African Development Bank Group, in collaboration with Executive Director of the Export Promotion and Private Investment Agency (AIPEX) and the Ministry of Economy and Planning (MEP), organized the Luanda roadshow, held on 11 April 2019. About 170 participants from the public and private sector attended. The Bank’s maiden...

The African Development Bank launches a new NZD 150 million 10-year “Light up and Power Africa” Kauri benchmark

16-Apr-2019 - 16-Apr-2019 - The African Development Bank, rated Aaa/AAA/AAA/AAA by Moody’s/S&P/Fitch/Japan Credit Rating Agency, has successfully launched a new NZD 150 million 10-year “Light up and Power Africa” Kauri benchmark  due 7 March 2029. The bond, launched on 21 February 2019, carries a semi-annual coupon of 2.85% and priced at a re-offer yield of 2.896%, 70 basis points (bps) over the New Zealand Government Bond NZGB 3% 20 April 2029 (NZD Mid-swaps + 43.3bps). The deal was driven by a reverse-enquiry anchor order out of Asia. It was...

Integrity in Development Projects: The African Development Bank declares Ms. Namahoua DIOMANDE ineligible to participate in Bank-financed tenders for 12 months

15-Apr-2019 - 15-Apr-2019 - The African Development Bank Group today announced the debarment of Ms. Namahoua DIOMANDE, also trading under the names Zata Productions, Zata Prod and Zata Service, for 12 months. An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that Ms. DIOMANDE, a resident of Côte d’Ivoire, engaged in a fraudulent practice in bidding for a contract for the provision of media production services to the Bank by falsifying her credentials. Ms. DIOMANDE will be released from debarment at the expiry of...

African Development Bank approves strategy for Central Africa - “crucial for the economic integration of the region”

15-Apr-2019 - 15-Apr-2019 - The Board of the African Development Bank has approved the Central Africa Regional Integration Strategy Paper 2019 – 2025, adopting the Bank’s multinational operations in Central Africa over the indicated period. The Central Africa Regional Integration Strategy Paper (RISP) for 2019 – 2025 builds on the lessons learned from the implementation of previous regional development initiatives. It also lists the Bank’s plans to accelerate intra-regional trade, inclusive economic growth and structural transformation of the Central...

African Development Bank Business Opportunity Seminar - Investing in partnerships for Africa’s transformation

15-Apr-2019 - 15-Apr-2019 - The African Development Bank held a Business Opportunity Seminar (BOS) focused on strengthening and fostering the engagement of the business sector and of other stakeholders to effectively support investment in infrastructure and human development projects. Seeking strategic alliances and potential business opportunities with the Bank, the participants, private-sector representatives, civil works contractors, local manufacturers, suppliers, small and medium-sized enterprises and government representatives, took part in...

Nigeria: African Development Bank approves $15 million investment package for Infrastructure Credit Guarantee Company

12-Apr-2019 - 12-Apr-2019 - The Board of the African Development Bank has approved a $15-million investment package to Infrastructure Credit Guarantee Company (InfraCredit), to support infrastructure financing through the domestic debt capital markets in Nigeria. The investment package to InfraCredit is comprised of a subordinated loan of $10 million and a risk sharing facility of up to $5 million. This intervention will promote local currency infrastructure financing, and further development of the domestic capital market. InfraCredit is a specialized...