AfDB Group Tops Billion Dollar mark in Annual Private Sector Investments in Africa

Tunis, 5 July 2007 – The African Development Bank (AfDB) Group has made over a billion dollars in annual private sector investments in Africa for the first time since its founding in 1964.  The Bank reached that highpoint following the approval on Thursday by its Board of Directors of two new financing transactions:  a Euro 6 million loan to establish the Sahanivotry micro-hydro power station in Madagascar and a Euro 0.6 million equity investment in the microenterprise-oriented Access Bank of Tanzania.  With both approvals, the AfDB’s total investments without sovereign guarantees th

Multinational Electric Power Grids Study: ADF supports Energy Integration in Western Africa

Tunis, 26 January 2005 – The African Development Bank (ADB) Group has decided to support the development of integrated hydro-electric power in West Africa. River basins in the sub-region offer an opportunity for the development of the largely unexploited energy potential. Hydropower would help end the persistent problems of power shortage and the heavy dependence on imported petroleum products for the production of electricity through the inter-connection of the sub-regional power grids.

“African countries need to address the barriers that keep African business less competitive,” says AfDB Chief Economist, Louis Kasekende

Tunis, 26 June 2007 – The Chief Economist of the African Development Bank (AfDB) Group, Louis Kasekende, has emphasized the need to address those barriers that hold down business development in Africa and reduce the ability of the African private sector to be competitive in the global economy. Speaking during an interview in Tunis, Mr. Kasekende specifically mentioned weak infrastructure, lack of access to finance – including trade finance – and discretionary as opposed to rule-based regulatory environments.

AfDB, WAEMU Seek to Strengthen Cooperation

Tunis, 13 January 2005 – The African Development Bank Group (ADB) and the West African Economic and Monetary Union (WAEMU) are working on a Protocol Agreement aiming at formally boosting cooperation between the two Institutions. This agreement could be finalized by June 2005.

This is the conclusion reached at a recent working session held between the two Institutions within the framework of a visit to the Temporary Relocation Agency by a WAEMU delegation headed by the Chairman of the WAEMU Commission, Mr. Soumaïla Cisse.