Japan and Austria to support private sector climate change investments on the continent

The governments of Japan and Austria have approved a $1 million fund to strengthen the participation of the private sector in combating climate change. The funding will be channeled to the Africa Private Sector Assistance (FAPA) grant, which aims to expand the role of the private sector in the Nationally Determined Contributions (NDCs) of African countries. NDCs are national efforts to reduce Greenhouse Gas emissions and form part of the Paris Agreement on climate change. The project will be implemented by the Climate Change and Green Growth Department of the African Development Bank....

Reaching Small and Medium Enterprises in Africa: A Learning Forum on Africa SME Program Technical Assistance

The African Development Bank provides significant financial resources to reach small and medium enterprises (SMEs), including through its non-sovereign operations. In 2016 alone, the AfDB Board of Directors approved over US $400 million in new lending to financial institutions (FIs) for Africa’s SMEs. AfDB’s funding is expected to help SMEs access new loans, enabling them to invest in expanding their productivity capacity and ultimately to grow their business, increase their revenues, create new jobs and play a key role in Africa’s inclusive growth story. However, financing is only one...

AfDB SME Program: Enhancing inclusive growth and job creation in Rwanda

The African Development Bank Group (AfDB) and Access Bank Rwanda Ltd. signed a loan agreement for the equivalent of US $6 million under the Africa SME Program on September 3, 2015 to support small and medium enterprises (SMEs) in Rwanda. Access Bank Rwanda is a member of the Access Bank Group, which has its headquarters in Lagos. The AfDB has had a long-standing relationship with Access Bank. The Rwanda subsidiary was established in 2008 when Access Bank PLC took a 75% ownership in Bancor SA. Expanding its loan portfolio in recent years, Access Bank Rwanda offers a variety of SME products...