China

08-Aug-2019

Nigeria: African Development Bank extolls Chinese commitment to Africa, explores potential partnerships with investors

Abuja, Nigeria - 8 August 2019: The African Development Bank in Nigeria met a private sector consortium from China to help attract investment through partnerships in the development of special agro-Industrial processing zones (SAPZs) across Africa. The Bank delegation, led by Professor Banji Oyelaran-Oyeyinka, the senior special adviser on industrialisation to the African Development Bank’s President, paid a courtesy call to Nigeria’s Vice President, Professor Yemi Osinbajo, who assured the consortium of the tremendous investment opportunities Nigeria offers. Discussions...
06-Nov-2018

African Development Bank to invest over US$ 500 million in New City Wide Inclusive Sanitation projects with support from Gates Foundation

The African Development Bank announces a new initiative to promote innovation and citywide inclusive sanitation services for sub-Saharan Africa’s urban inhabitants. The Bank’s Africa Urban Sanitation Investment Fund Program, with support from the Bill & Melinda Gates Foundation, is funding the initiative designed to focus on the poor. The Gates Foundation, in partnership with the Government of the People’s Republic of China, showcased the new initiative at the Reinvented Toilet Expo in Beijing from 6-8 November 2018. The Reinvented Toilet Expo brought together private and public-sector...
05-Sep-2018

“Africa is the place to be,” African Development Bank President tells Chinese business leaders at the China-Africa forum

The President of the African Development Bank, Akinwumi Adesina, has urged Chinese business leaders to attend the Africa Investment Forum scheduled to take place in Johannesburg, South Africa, from 7-9 November 2018. Adesina made the call while addressing delegates at the 6th Conference of Chinese and African Entrepreneurs, which took place on the sidelines of the 2018 Beijing Summit, attended by leaders from 53 African countries and China. “I am sure you all know Africa is the place to be. African economies are growing well and the GDP growth rate is projected to average 4.1...
03-Sep-2018

African Development Bank President Akinwumi Adesina to attend China-Africa Cooperation Summit in Beijing

The President of the African Development Bank, Dr. Akinwumi Adesina, will lead a delegation to the Forum on China–Africa Cooperation (FOCAC 2018), which will take place in the Chinese capital Beijing from 3 to 4 September 2018. The theme of this year’s summit, which will be chaired by Chinese President Xi Jinping, is: "China and Africa: toward an even stronger community with a shared future through win-win cooperation.” The Bank President will be actively involved in the plenary sessions, and other private sector and media engagements on the sidelines of the summit. They...
25-May-2018

Sharing the Development Experiences of Africa and Asia for Sustainable and Inclusive Growth

The Asia External Representation of the African Development Bank(link is external) organized an Africa Day Joint Side Event with the  Asian Development Bank Institute, “Sharing the Development Experiences of Africa and Asia for Sustainable and Inclusive Growth”, during the Bank’s 53rd Annual Meetings and the African Development Fund’s 44th Meetings in Busan, Korea. After Tadashi Yokoyama, Head of the Bank’s Asia External Representation opened the seminar, Byong Yol Woo, Director General for International Economic Affairs at the Korean Ministry of Strategy and Finance, and Takashi...
11-Dec-2017

African Economic Conference: Should Africa be inspired by China’s industrial development?

Africa, which struggles to boost its industrial sector, has decided to seek inspiration from the Chinese model. Several African delegations were eager to attend the fifth and final plenary session of the 12th African Economic Conference (AEC) in Addis Ababa, Ethiopia. The theme of the session was “Institutions, competitiveness and industrial policy in the age of global value chains: lessons from China”. Prof. Zhongxiu Zhao of the University of International Business and Economics in Beijing recalled the birth of Chinese industrialization, which was characterized by four main...
09-Dec-2016

What Africa can learn from China’s Green Revolution in its agro-allied industrialization quest

Is there a future for smallholder farmers in Africa? Participants at the 2016 African Economic Conference think there is future for smallholder farmers on the continent. They think African countries can use build upon the Green Revolution in Asia and use the lessons learnt raise their productivity. They spoke at the “Plenary session 5: Lessons on Agro-Allied Industrialization from country experiences” at Day 3 of the Conference where they highlighted how the experience of China is very relevant to us in Africa.  Moderator of the session, Paul Amaza, a Professor at the...
01-Apr-2016

AfDB scouts for viable energy models for power-starved Africa

A major preoccupation of the just-concluded visit to Asia by an African Development Bank team led by its President, Akinwumi Adesina, was the search for an efficient energy system that can be easily adapted in some of the most energy-starved African countries. Energy is at the top of the Bank’s High 5 priorities – Light up and power Africa, Feed Africa, Industrialise Africa, Integrate Africa and Improve the quality of life for Africans. It seeks to tackle one of the most daunting challenges to the continent’s development – energy poverty among its 640 million people. More than...
29-Mar-2016

AfDB President rounds up Asian tour in Beijing with firm commitments for support

The President of the African Development Bank Group, Akinwumi Adesina, departed Beijing on Tuesday night at the end of a three-nation Asian tour, which took him and his delegation to  Japan (March 24-26), Korea (March 26-28) and China (March 28-29). These visits have focused on consultation with influential public and private entities in these three important non-regional members of the Bank Group on the Bank’s mission and future development programmes. Being his first visit to these countries since he assumed office as the 8th elected President of the Group on September 1,...
22-Mar-2016

AfDB President Adesina leads Bank mission to Japan, Korea and China

The President of the African Development Bank Group (AfDB), Akinwumi Adesina, will lead a top-level Bank team on a working visit to Japan, Korea and China from March 24-29. During the visit, the team will engage with top government officials of these countries and business corporates on current development issues as well as on the Bank’s new development agenda, notably the High 5s priorities (Light up and power Africa, Feed Africa, Integrate Africa, Industrialize Africa, and Improve the quality of life for the people of Africa). These priorities provide practical and clear guidelines for...
08-Dec-2015

6th China-Africa Cooperation Forum highlights unique partnership and the role of the AfDB

China is Africa’s largest trading partner for the sixth year running, according to Charles Boamah, African Development Bank’s Vice-President of Finance. The trade volume between the two amounted to US $220 billion in 2014. This is reportedly more than double the trade level between the United States and the African continent. The same is true for investments. Boamah made the remarks during an interview on China Central Television (CCTV) at the Forum on China-Africa Cooperation (FOCAC), which took place on December 4 and 5, 2015 in Johannesburg, South Africa. During the summit, China’s...
12-Oct-2015

Remarks delivered by AfDB President Akinwumi Adesina at Signing Ceremony of Sharm El-Sheikh Airport Development Project Loan Facility with the Government of Egypt

Excellencies, ladies and gentlemen, I am very pleased today to sign the agreement for the loan of USD 50 million – from the Africa Growing Together Fund (AGTF) – with the Government of Egypt to complement the USD 90 Million loan earlier approved by the African Development Bank to co-finance the Sharm El-Sheikh Airport Project. The Africa Growing Together Fund was established in the African Development Bank by the Government of the Republic of China with USD 2 billion to support the co-financing of major projects in Africa. I wish to especially welcome Mr. Yi Gang...
21-Jul-2015

President Kaberuka shares his experiences with African diplomats in Beijing

The President of the African Development Bank Group, Donald Kaberuka, shared experiences with African ambassadors accredited to China over lunch on Tuesday in Beijing. Kaberuka said he felt compelled, during what would be his last official visit to China as AfDB President, to express his appreciation for the country’s unwavering support to the Bank and its work in Africa. He narrated the excellent meetings he has held with top Chinese officials in the ministries and financial sectors, which have provided him and his delegation a better understanding of their strategies, business plans,...
21-Jul-2015

AfDB President Kaberuka and Delegation Begin Official Mission to China

President of the African Development Bank Group, Donald Kaberuka, and his entourage began an official mission to China on Monday. They held meetings with government officials, fund managers, and development oriented think tanks. President Kaberuka shared his experiences on African and global development issues garnered during his ten-year tenure at the head of AfDB, thanked Chinese government officials and heads of development and allied institutions for their support during those years, and sought their continued bilateral and multilateral support to his successor in particular and to...
22-Jun-2015

BRICS: Destination Africa - The New Development Bank - a promise of new funding?

On Wednesday, May 27, 2015, Day 3 of the African Development Bank’s 50th Annual Meetings, a panel session was dedicated to a discussion on the BRICS (Brazil, Russia, India, China and South Africa) countries. Among other issues addressed by participants, was the New Development Bank (NDB), the African Regional Centre (ARC) and the Contingent Reserve Arrangement. Contributions were made to this roundtable by South African Finance Minister Nhlanhla Nene; Deputy Governor of the Central Bank of Uganda, Louis Kasekende; Chair of the Board of the Tanzania Investment Bank (TIB), William Lyakurwa;...
09-Mar-2015

Heads of Multilateral Development Banks and IMF commit to promote Gender Equality

Heads of Multilateral Development Banks and the International Monetary Fund have called on all international development and financial institutions to join the effort to promote gender equality across the world. In a statement issued on March 8, 2015 marking the 20th Anniversary of the Fourth World Conference on Women in Beijing, and International Women’s Day, the seven MDB/IMF heads said while progress had been made in closing gender gaps especially in the areas of maternal mortality and school enrolment, much still remained to be done. “Maternal mortality has steadily declined,...
20-Dec-2014

AfDB and Export-Import Bank of China Strengthen Cooperation

The African Development Bank Group on Thursday, December 16, 2010 in Tunis received a delegation from the Export-Import Bank of China (Eximbank). The delegation, led by its Executive Vice President, Liu Liange, also comprised the General Manager, Legal Department, Li Jian, and Assistant President, Liu Yang. The delegation’s meeting with Vice President Aloysius Ordu (ORVP) and his team mainly focused on cooperation and the need to strengthen relations with the AfDB. Mr Ordu expressed satisfaction with the solid cooperation existing between the Bank and China, underscoring particularly the...
15-Dec-2014

Integrity in AfDB Projects: AfDB debars and fines China First Highway Engineering Co. Ltd.

The AfDB imposes a three year debarment on China First Highway Engineering Co. Ltd. following admission of fraudulent and collusive practices in an AfDB-financed project. In addition, the bank levies a financial penalty of USD 18.86 million to support anti-corruption projects on the continent.  The African Development Bank Group (AfDB) on December 15, 2014, announced the conclusion of a Negotiated Settlement Agreement with China First Highway Engineering Co. Ltd. (CFHEC). Ensuing from investigations conducted by the AfDB’s Integrity and Anti-Corruption Department (IACD), CFHEC...
22-May-2014

AfDB announces US $2 billion fund with China

The African Development Bank (“AfDB”) and the People’s Bank of China (“PBOC”) on Thursday, May 22 entered into a US $2 billion co-financing fund to be known as the Africa Growing Together Fund (“AGTF”).  The resources from the AGTF are expected to be provided over a 10-year period and will be used alongside the AfDB’s own resources to finance eligible sovereign and non-sovereign guaranteed development projects in Africa. Donald Kaberuka, President of the African Development Bank Group, commented that "the AGTF marks an important milestone in the long-standing relationship between...
05-Feb-2014

AfDB and the People’s Bank of China commit to expand relations

Dingxin Gao, the Chief Representative of the People’s Bank of China (PBC) in Tunisia, held talks with African Development Bank Group President Donald Kaberuka on Wednesday, February 5 in Tunis and revealed that the two institutions have agreed to expand cooperation. “Our two institutions have established ambitious, but achievable goals to galvanize efforts to promote shared prosperity, a sustainable increase in the well-being of the poorer segments of African society,” said Gao. In April 2013, President Kaberuka and the Governor of the People’s Bank of China (PBC), Zhou Xiaochuan, agreed...