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Flying ‘sky-high’: African Development Bank Annual Meetings conclude with consensus on regional integration

14-Jun-2019 - 14-Jun-2019 - The African Development Bank on Friday concluded its Annual Meetings, amid growing consensus that regional integration is imperative to a new phase in African prosperity. Around 2,000 delegates gathered in Malabo, Equatorial Guinea, to discuss ways to fast-track regional integration after the milestone African Continental Free Area (AfCFTA) was endorsed earlier this year. “We have had an excellent exchange with all of our shareholders. They were extremely impressed by the work achieved by the Bank, particularly in terms of...

Interview - Korea Program on International Agriculture (KOPIA)

14-Jun-2019 - 14-Jun-2019 - Korea imported 900,000 tons of rice every year in the 1970s and became self-sufficient in five years. What made this happen? First, it was thanks to technology development. Korean scientists concentrated their efforts on developing new varieties of rice and succeeded in making their own high-yielding varieties. Second, rapid technology dissemination. Over 7,000 extension agents across the country had been dedicated to achieving the national goal of rice self-sufficiency. As a result, the new varieties could grow on 70...

La Banque africaine de développement accorde un financement supplémentaire aux Comores pour le secteur de l’énergie

14-Jun-2019 - 14-Jun-2019 - La Directrice Générale Adjointe de la Banque pour l’Afrique de l’Est, Nwabufo Nnenna, et le Ministre des Finances et du Budget des Comores, Saïd-Ali-Saïd Chayhane, ont signé, jeudi, un accord de financement supplémentaire de 8,63 millions d’euros, en marge des Assemblées annuelles de la Banque à Malabo, en Guinée équatoriale. Grâce à ce financement de la Banque, le gouvernement des Comores sera en mesure de poursuivre ses réformes dans le secteur de l’énergie, entamées en 2014, dans le cadre du Projet d’appui au secteur de l’...

“Let’s learn to build it ourselves,” Bank Vice President Sherif in a clarion call to regional economic blocs

14-Jun-2019 - 14-Jun-2019 - “The day we see an Egyptian farming in Sudan, growing wheat, rather than Egypt getting its wheat from Ukraine, Russia - this is regional integration. The day we see a Sierra Leonean mining his diamond and selling that diamond for the $10,000 that it deserves, not just rough stones but cut and polished, with added value; this is a different Africa”. African Development Bank Vice President for Regional Development, Integration and Business Delivery, Khaled Sherif, summarised the Bank’s aspirations for regional integration in...

African Development Bank showcases impact of Korean drone technology on agricultural productivity

14-Jun-2019 - 14-Jun-2019 - At a special event highlighting the partnership between the African Development Bank and Korea held on the sidelines of the Bank’s Annual Meetings, the role of drone technology to boost food productivity in Africa, was on full display. A pilot project, underway in Tunisia, is designed to reduce food imports. Drone technology is being used to collect and analyse data, and monitor irrigated areas, combat pests. The Bank launched the project, in cooperation with the Busan Metropolitan City in Korea with support from the Korea...

‘Sometimes you need to relocate elephants’ to advance regional integration – Europe, South America and Asia share insights

13-Jun-2019 - 13-Jun-2019 - Would you describe yourself as an African? Or is your primary identity based on your nationality? That was one of the thought-provoking questions raised by senior German official Dominik Ziller during a panel discussion on regional integration at the Annual Meetings of the African Development Bank in Malabo, Equatorial Guinea. Ziller was one of three senior representatives from South America, Asia and Europe who shared insights from their own experiences with regional integration on Wednesday. Ziller was joined by Toshio...

Gambia President Adama Barrow awarded the Great Builder Super Prize – The Africa Road Builders Babacar Ndiaye Trophy 2019

13-Jun-2019 - 13-Jun-2019 - At a ceremony held on the sidelines of the Annual Meetings of the African Development Bank Group on Wednesday, 12 June, the president of Gambia, Adama Barrow, was awarded the Great Builder Super Prize – The Africa Road Builders Babacar Ndiaye Trophy 2019, for his personal leadership in building the Senegambia bridge that links Gambia to Senegal. Mamburay Njie, Gambian Minister of Finance and Economic Affairs, representing his Head of State, said: "It is a great honour to receive this award on behalf of his Excellency,...

Switzerland Governor Raymond Furrer on the two bilateral agreements signed during the Bank’s Annual Meetings in Malabo

13-Jun-2019 - 13-Jun-2019 - Q 1. Switzerland just signed  two bilateral agreements for grants with the African Development Bank. Can you tell us about them? Indeed, we signed a CHF 3,000,000 grant to support the Boost Africa/E-lab initiative.  Boost Africa is a joint initiative between the African Development Bank and the European Investment Bank (EIB), and one of the flagship initiatives of the Bank’s Jobs for Youth in Africa strategy. It aims to harness the continent’s potential and create opportunities on the ground. Creating the right...

Switzerland gives 3.2 million Swiss francs to African Development Bank’s ‘Boost Africa’ E-Lab and urban development fund

13-Jun-2019 - 13-Jun-2019 - The State Secretariat for Economic Affairs of the Government of the Swiss Confederation (SECO) and the African Development Bank on Thursday signed two agreements to fund African initiatives on the sidelines of the Bank’s 2019 Annual Meetings. SECO contributed 3 million Swiss francs to the Entrepreneurship Lab (E-Lab) for innovative young entrepreneurs and 200,000 Swiss francs to the Urban & Municipal Development Fund for Africa (UMDF), which helps African cities plan and manage urban growth and climate-resilient...

Despite Challenges, Africa's Debt is still under control says African Development Bank

13-Jun-2019 - 13-Jun-2019 - The African Development Bank remains strong with growing operating revenues and allocable income generated since 2010 reaching $2.5 billion, the Bank Group’s Treasurer, Hassatou Diop N'sele, stated on Thursday. In 2018, the Bank earned $214 million in allocable income, 48% of which has been reinvested in the institution to reinforce reserves and its business growth capacity. The bullish numbers were revealed during the Bank’s Financial presentation Thursday, a highlight of the 2019 Annual Meetings of the Bank currently...

“To integrate Africa, bring down the walls,” Adesina urges at 2019 African Development Bank Annual Meetings Open in Malabo

12-Jun-2019 - 12-Jun-2019 - African leaders on Wednesday underscored the urgent need to fast-track the continent’s regional integration process in order to accelerate Africa’s economic transformation. The call was made at the opening ceremony of the Bank’s 2019 Annual Meetings, in Malabo, Equatorial Guinea, with the theme: “Regional Integration for Africa’s Economic Prosperity.” “Apart and divided, Africa is weakened. Together and united, Africa will be unstoppable,” the Bank’s President Akinwumi Adesina told delegates at the packed Sipopo Conference...

African leaders share their vision for an integrated continent

12-Jun-2019 - 12-Jun-2019 - Leaders from four African countries on Wednesday shared their vision for an integrated and borderless Africa that would foster economic growth and development. The leaders spoke during a high-level presidential dialogue on day two of the African Development Bank’s 2019 Annual Meetings. The panelists – President Teodoro Obiang Nguema Mbasogo of Equatorial Guinea, President Felix Tshsekedi of the Democratic Republic of Congo, the Prime Minister of eSwatini Ambrose Mandvulo Dlamini and his majesty King Letsie III of Lesotho...