The President of the African Development Bank, Dr Akinwumi A. Adesina, is pleased to announce the following Senior Management appointments:

Director, Fiduciary and Financial Management

Mr. Frank Mvula was appointed as Director, Fiduciary and Financial Management with effect from 1^st July 2018.

The African Development Bank Group (AfDB) and the Government of India have pledged to make the Bank Group’s 2017 Annual Meetings a resounding success. The Meetings are scheduled to take place in Ahmedabad, the capital of the state of Gujarat, from May 22-26, 2017.

The commitment followed a Memorandum of Understanding endorsed by both parties on Thursday, September 15, 2016, at the end of the Bank’s first Annual Meetings Preparatory mission to assess facilities and logistics for the event in Ahmedabad.

On Wednesday, September 14, 2016, the African Development Bank (AfDB), rated Aaa/AAA/AAA, priced a US $1 billion fixed rate US Dollar Global benchmark due 20 September 2019, the issuer’s fourth global benchmark issue in 2016. The transaction has a coupon of 1.125% and was priced at a spread of mid-swaps plus 9 basis points, the tightest 3-year benchmark pricing by the issuer since 2014, and equivalent to 26.2 basis points over the 0.875% UST due September 2019. Joint lead managers are Barclays, BofA Merrill Lynch, J.P. Morgan and TD Securities.

On September 14, 2016, in Abidjan, the Board of Directors of the African Development Bank (AfDB) approved the Country Strategy Paper for Senegal for the next five years (2016-2020). The new strategy has two pillars: support to agricultural transformation and strengthening of production and competitiveness support infrastructure (energy and transport). The AfDB has pledged an estimated 1.4 million USD in funding for 2016-2020.

The African Development Bank has approved a US$50 million line of credit to Nigeria’s Fidelity Bank Plc to support small and medium sized, and women-owned enterprises in selected transformative sectors, including close to a hundred SMEs in manufacturing, health and education.