The President of the African Development Bank Group, Dr Akinwumi A. Adesina, is pleased to announce the following senior appointments.

DIRECTOR, INTEGRITY AND ANTI-CORRUPTION 

Somalia’s offshore potential oil and gas reserves has garnered the attention of many international oil companies. The potential of these reserves, if managed well, will provide consistent revenue streams that could catalyse the economic development of Somalia.

The African Development Bank (AfDB) has issued the first “Light Up and Power Africa” Bond for SEK 733 million (approximately JPY 10 billion) sold to the Dai-ichi Life Insurance Company, Limited, the sole investor in the transaction.

The “Light Up and Power Africa” Bond supports AfDB’s ambition to achieve an important goal of realizing Africa’s energy potential and bridging the continent’s energy deficit.

African countries will need better data, statistics, and policy coordination to ensure successful implementation of the Sustainable Development Goals (SDGs) and congruence with the African Union’s Agenda 2063.

Following an official request for support from the Government of Guinea-Bissau, the African Legal Support Facility (ALSF) has provided creditor litigation support and advisory services to Guinea-Bissau during outstanding debt negotiations with the Export-Import Bank of China (Exim Bank). The support led to a series of settlement and debt-restructuring negotiations concluded in Singapore. Guinea-Bissau and Exim Bank agreed to a 90% reduction in outstanding debt obligations, resulting in savings of over US$45 million for Guinea-Bissau.