Addis Ababa, Ethiopia – At an historic meeting on Saturday, November 8 at the African Union headquarters in Addis Ababa, Ethiopia, the African Union together with African Development Bank, the United Nations Economic Commission for Africa and leading businesses in Africa committed to join forces to create and support a funding mechanism to deal with the Ebola outbreak and its consequences.

The African Development Bank (AfDB) has released the mid-term review of its operations in Morocco for the years 2012 to 2016, which defines the nature and focus of its actions for the next three years. This publication also provides an update on the performance and results of current AfDB operations in the country.

The Bank welcomes the strong performance of the Moroccan economy, reflected in an average annual growth rate of 4.2% between 2009 and 2013, despite a difficult international and regional context.

The African Development Bank (AfDB) and the Alliance for a Green Revolution in Africa (AGRA) Kenya have signed on November 14, 2014, in Nairobi, a grant agreement to support the growth and formalization of 54 African seed companies in eleven countries. The Fund for African Private Sector Assistance (FAPA) managed by the Bank has provided US $1 million to fund a technical assistance project in the form of Business Development Services for the 54 seed companies.

A recent Economic Brief produced by African Development Bank, “Promoting crisis-resilient growth in North Africa”, analyses the root cause behind the Arab Spring and concludes that the uprising was an internally generated crisis, the result of two interwoven processes relating to the patterns of growth and crisis resilience in the region.

The African Development Bank Group (AfDB) and Moza Banco signed a loan agreement for the equivalent of US $9 million in Mozambique Metical (MZN) on November 14, 2014.