Equatorial Guinea

16-Aug-2019

São Tomé and Príncipe fifth country to sign Lusophone country-specific compact to accelerate inclusive private sector led growth

São Tomé, São Tomé and Príncipe, 16 August 2019 – São Tomé and Principe signed, on Thursday, a country-specific memorandum of understanding for the implementation of the Lusophone Compact aimed at accelerating inclusive, sustainable, and diversified private sector growth. São Tomé is the fifth nation to ink the agreement, after Mozambique, Cabo Verde, Angola, Guinea-Bissau.  The agreement was signed by Hon. Osvaldo Vaz,  São Toméan Minister of Planning, Finance and Blue Economy, African Development Bank Country Manager for Angola and São Tomé and Príncipe, Joseph...
23-Jul-2019

Equatorial Guinea - Support for the Development of Value Chains in the Fisheries and Aquaculture Sector - Appraisal Report

Having become aware of its strong dependence on the oil sector, the Republic of Equatorial Guinea (REG) in 2007 launched its Agenda for the Diversification of Sources of Growth, dubbed "Equatorial Guinea 2020". To realize its economic transformation strategy in which the fisheries and aquaculture sector plays a pivotal role, the Government needs substantial investments to address the challenge of the sector’s structural transformation and increase its contribution to the national economy, improved food and nutritional security, the creation of new jobs and improved living conditions of the...
17-Jul-2019

Guinée équatoriale : la BAD soutient le développement des chaînes de valeur halieutique et aquacole avec plus de 55 millions d’euros

Le Groupe de la Banque africaine de développement (BAD) a approuvé aujourd’hui un financement d’un montant de 55,518 millions d’euros (soit 36,418 milliards de FCFA), en faveur de la Guinée équatoriale, pour la mise en œuvre du « Projet d’appui au développement des chaînes de valeurs du secteur de la pêche et de l’aquaculture (PASPA) ». D’un coût global de 69,968 millions d’euros (soit 45,896 milliards de FCFA), ce financement de la BAD s’inscrit dans le cadre du Document stratégie pays (DSP) 2018-2022. Le projet PASPA, formulé conjointement avec le Bureau international du...
16-Jul-2019

Central Africa Regional Integration Strategy Paper 2019 - 2025

This Central Africa Regional Integration Strategy Paper (RISP-CA) proposes a general framework of operations in Central Africa over 2019–2025 for adoption by the Boards of Directors of the African Development Bank (AfDB or Bank) and the African Development Fund. The RISP-CA was prepared within a context of major institutional changes, particularly following the Bank’s adoption of the Development and Business Delivery Model and the continental Regional Integration Strategic Framework for 2018–2025.
18-Jun-2019

Launch of the Africa Digital Financial Inclusion Facility

The African Development Bank, with donor partners, will launch the Africa Digital Financial Inclusion Facility (ADFI) on 12 June 2019 at the Bank’s Annual Meetings in Malabo, Equatorial Guinea. ADFI is an innovative financing facility designed to accelerate digital financial inclusion across Africa, with a goal of ensuring that 332 million more Africans, of which, 60% are women, have access to the formal economy. Digital financial services are emerging as a powerful force for financial inclusion, gender equality and inclusive economic growth. For consumers in low and middle-income...
18-Jun-2019

Annual Meetings of the Boards of Governors of the African Development Bank Group, 11 - 14 June, 2019

WHAT:  The 54th Meeting of the Boards of Governors of the African Development Bank and the 45th Annual Meeting of the African Development Fund WHERE:  Sipopo Conference Centre, Malabo, Equatorial Guinea WHEN:   11 - 14 June, 2019 The 54th Meeting of the Boards of Governors of the African Development Bank and the 45th Annual Meeting of the African Development Fund, the concessional arm of the Bank Group, will be held in Malabo, Republic of Equatorial Guinea from 11 to 14 June 2019. The Annual Meetings are the Bank’s largest event and will bring...
15-Jun-2019

Final communique of the fifty fourth annual meeting of the board of governors of the African Development Bank (ADB) and the forty fifth annual meeting of the board of governors of the African Development Fund (ADF)

WE, the Governors, representing Member Countries of the African Development Bank and State Participants of the African Development Fund (the “Bank Group”), meeting in Malabo, Equatorial Guinea for the 2019 Annual Meetings from 11th to 14th June 2019 under the chairmanship of His Excellency CESAR AUGUSTO MBA ABOGO, Governor for the Republic of Equatorial Guinea, Minister of Finance and Chairperson of the Boards of Governors: 1. Deeply appreciate the presence of His Excellency MR. TEODORO OBIANG NGUEMA MBASOGO, President of the Republic of Equatorial Guinea, His Majesty KING LETSIE III, King...
14-Jun-2019

Interview - Korea Program on International Agriculture (KOPIA)

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 percent of the total rice paddy area in five years. Third, the...
14-Jun-2019

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

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 regional integration,” said African Development Bank President...
14-Jun-2019

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

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-Africa Cooperation fund (KOAFEC). The session in Malabo...
14-Jun-2019

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

“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 Africa in a clarion call to regional economic communities at a...
14-Jun-2019

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

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’énergie (PASEC). « Nous voulons saluer les efforts...
13-Jun-2019

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

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 enabling environment and strengthening entrepreneurial skills is...
13-Jun-2019

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

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 underway in Malabo, Equatorial Guinea. The panel was led by N’sele...
13-Jun-2019

Gambia President Adama Barrow awarded the Great Builder Super Prize – The Africa Road Builders Babacar Ndiaye Trophy 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, President Adama Barrow, who humbly accepts it in recognition of his...
13-Jun-2019

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

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 development by improving governance and basic services. “These days it’...
13-Jun-2019

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

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 Oya from Japan’s Ministry of Finance and Marcos Guimaraes from...
12-Jun-2019

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

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 Center. Adesina urged African governments to work toward...
12-Jun-2019

Opening Speech by Dr. Akinwumi A. Adesina, President, African Development Bank Group, at the Annual Meetings of the African Development Bank - Malabo, Equatorial Guinea, June 12, 2019

Your Excellency, President OBIANG NGUEMA MBASAGO of Equatorial Guinea - our host President; Your Excellencies Heads of State and Governments (names), Governors of the African Development Bank, honorable Ministers, Ambassadors and Heads of Diplomatic Missions, members of the Board of Directors, senior management and staff of the African Development Bank, partners, members of the press, distinguished guests, ladies and gentlemen.              I welcome you to the Annual Meetings of the African...
11-Jun-2019

Equatorial guinea - Public finance modernisation support project (PAMFP) - Appraisal report

The weak institutional capacity in public finance management and public sector governance in general is a major constraint to the implementation of Equatorial Guinea's economic and social transformation policies. The commitment of the authorities to transform the Republic of Equatorial Guinea into an emerging country faces three major weaknessesin terms of steering and supporting change in the economic and financial sphere. Specifically, the effectiveness of public policies in Equatorial Guinea faces threetypes of obstacles: (i) a public financial management framework that is inadequatefor...