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Zimbabwe: African Development Bank Group approves grant for disaster risk management training

23-Jan-2020 - The Board of the African Development Fund (ADF) on Wednesday approved a $685,000 grant to strengthen Zimbabwe’s capacity to manage disaster risks, including droughts, floods and tropical cyclones, through the Bank’s Africa Disaster Risk Financing (ADRiFi) programme.

African Development Bank President Akinwumi Adesina opens trading on London Stock Exchange

23-Jan-2020 - Don Robert, Chairman of London Stock Exchange Group, welcomed the president of the African Development Bank to open markets for trading at London Stock Exchange on Wednesday 22 January. The reception in London followed the African Development Bank’s Africa Investment Forum, held in November last year. The innovative market-place for accelerating investment into the continent is playing a valuable role in convening investors and corporates and removing the bottlenecks to investments and enabling a free flow of long-term capital.

Ride the wave of the African Continental Free Trade Area, African Development Bank president Adesina Urges UK investors

21-Jan-2020 - Africa is on the cusp of unmatched economic transformation, and the UK must engage in a “partnership of change,” African Development Bank President Akinwumi Adesina said Tuesday in a keynote address at a UK Parliamentary Symposium. “The Africa of the 21st century is very different. The Africa of the 21st century is new and more confident,” he said. The Symposium was co-organized by the All-Party Parliamentary Group for Africa with the Royal African Society, Oxford Brookes University, and the Trade Justice Network under the theme UK-Africa...

ACCF grants $4.7m to support projects in African countries

21-Jan-2020 - The Africa Climate Change Fund (ACCF) recently approved seven new project proposals amounting to around $4.7 million.

British Prime Minister, African leaders urge investors to accelerate economic role on the continent

20-Jan-2020 - UK companies must leap at the chance to deepen economic ties with Africa, a continent with unmatched investment opportunities, several African leaders said at a high-level panel. At an oversubscribed opening ceremony for the 2020 UK-Africa Investment Summit, Monday, attended by dignitaries and delegates from 16 African countries, including President El Sisi of Egypt, British Prime Minister Boris Johnson made the case for bigger investments in Africa and called for increased and renewed partnership  between  the UK and Africa.

African Development Bank's Akinwumi Adesina heads to UK-Africa investment summit: Revitalizing economic ties top of agenda

17-Jan-2020 - New opportunities for bi-lateral trade and increasing UK investor appetite in Africa will be the main focus of the UK-Africa summit, convened by Prime Minister Boris Johnson, on January 20th. African Development Bank President Akinwumi Adesina is expected in London for the milestone investment summit aimed at forging new partnerships under the theme: ‘Partners for prosperity.’

The African Development Bank signs €6 million grant for São Tomé and Principe

16-Jan-2020 - The African Development Bank on Wednesday signed a €6.18 million grant in budgetary support to the Democratic Republic of São Tomé and Principe. The agreement was signed at the Bank’s headquarters in Abidjan, Côte d'Ivoire, by Osvaldo Vaz, Minister of Planning, Finance and the Blue Economy of São Tomé and Principe and by Khaled Sherif, Vice President for regional development, integration and service delivery. The Bank approved the budgetary support to São Tomé and Principe on 8 January 2020 under its programme to support economic reform and...

République démocratique du Congo : la Banque africaine de développement discute avec le gouvernement du développement rapide du site Inga et du lancement de Inga 3

15-Jan-2020 - « Nous venons pour réaffirmer notre partenariat avec la Banque africaine de développement et son leadership dans la mise en œuvre effective et rapide du projet Inga 3 », a déclaré, lundi 13 janvier à Abidjan, Sele Yalaghuli, ministre des Finances de la République démocratique du Congo (RDC).

African Development Fund Board approves $37.2 million in credit risk participations by the Private Sector Credit Enhancement Facility for non-sovereign operations in Kenya, Sudan and Senegal

15-Jan-2020 - The Board of Directors of the African Development Fund (ADF), the concessional window of the African Development Bank Group, approved on January 15, 2020, credit risk participations by the Private Sector Credit Enhancement Facility (PSF) for projects in Kenya, Sudan and Senegal. The agreement covers operations cumulatively valued at $37.2 million and includes a corporate loan to support an East African agribusiness firm’s domestic and regional expansion, and two lines of credit targeting SME borrowers.

African Development Bank allocates €1.2 million to train policymakers in boosting mining revenues

15-Jan-2020 - The African Development Bank has allocated a €1.2 million grant to provide training to help resource-rich countries improve their mining revenues. The Bank’s Regional Development, Integration and Business Delivery Complex approved the first-of its kind grant from the Transitional Support Facility for the project on Financial Modelling for the Extractive Sector (FIMES) in December. The project will be implemented in Africa’s transitional countries from 2020 to 2022.

African Development Bank unveils Policy on Non-Sovereign Operations

13-Jan-2020 - The African Development Bank Group on Monday organized a workshop to share its approach to private sector funding through its new policy on Non-Sovereign Operations (NSO Policy). The policy provides the general framework and modalities required for Bank lending and investment without sovereign guarantee to private and public entities that meet specific eligibility requirements on non-concessional terms.

African Development Bank signs five-year agreement to use International Federation of Consulting Engineer (FIDIC) standard contracts

13-Jan-2020 - The International Federation of Consulting Engineers (FIDIC) has secured a major agreement with the African Development Bank that will see the international funding organisation include the use of seven FIDIC standard contracts for the next five years.

African Development Bank approves €8 million technical assistance grant to support preparation of Ruzizi IV Hydro Power Project in the Great Lakes region

13-Jan-2020 - The Board of Directors of African Development Bank Group has approved an €8 million grant drawn from the European Union’s Africa Investment Platform (EU-AIP) to support the preparation of the Ruzizi IV Hydropower Project. The plant will be situated on the Ruzizi River between Rwanda and the Democratic Republic of Congo and will supply electricity to the DRC, Burundi and Rwanda.

African Development Bank sponsored Off-Grid Energy Access Fund reaches final equity close with partner contributions

10-Jan-2020 - The Facility for Energy Inclusion’s Off-Grid Energy Access Fund (FEI OGEF) has reached a final equity close with $59 million in committed equity capital and $36 million debt facilities, to support innovative, off-grid energy access companies.

African Development Bank approves $20 million investment in Metier Fund to support renewable energy in Sub-Saharan Africa

07-Jan-2020 - The Board of Directors of the African Development Bank has approved a $20 million investment in the Metier Sustainable Capital International Fund II, which channels funds to renewable energy and resource-efficient infrastructure projects across Sub-Saharan Africa.

La Banque africaine de développement octroie un don de 976000 euros pour le Projet d’appui au démarrage du marché financier unifié d’Afrique centrale

02-Jan-2020 - Le Gouverneur de la Banque des Etats de l’Afrique Centrale (BEAC), Abbas Mahamat Tolli et le Responsable-Pays du Groupe de la Banque africaine de développement (BAD) au Cameroun, Solomane Koné, ont procédé le 21 décembre 2019 à Douala, au Cameroun, à la signature

La Banque africaine de développement et le Cameroun signent un Accord de prêt de 80,4 millions d’euros au titre de la Phase III du Programme d’appui à la compétitivité et la croissance économique

27-Dec-2019 - Le Ministre de l’Economie, de la Planification et de l’Aménagement du Territoire, Gouverneur du Groupe de la Banque africaine de développement pour le Cameroun, Alamine Ousmane Mey et le Responsable-Pays de la Banque africaine de développement au Cameroun, Solomane Kone, ont  procédé, le 19 décembre 2019 à Yaoundé, à la signature d’un accord de prêt pour le financement de la troisième phase du Programme d’appui à la compétitivité et la croissance économique (PACCE III),  en présence du Ministre camerounais des Finances, Louis-Paul Motaze.

Funding options for African countries hit by climate change: Africa Climate Change Fund shows results

23-Dec-2019 - The debate around climate change often focuses on the targets that need to be achieved. Another aspect of the discussion is increasingly gaining attention; that is the funding required, for African countries in particular, where climate change has hit the hardest. The Africa Climate Change Fund (ACCF) recently convened an event titled “Supporting African countries to unlock and absorb climate adaptation finance” at the 25th edition of the Conference of the Parties (COP 25) in Madrid, Spain.

‘Let West Africa’s success echo throughout the world.’ ECOWAS hails the success of African Development Bank investments in the region

23-Dec-2019 - The African Development Bank’s investments in West Africa are yielding remarkable results, the President of the Economic Community of West African States (ECOWAS), Jean-Claude Kassi Brou, said in Abuja on Saturday. He was speaking at the bloc’s fifty-sixth ordinary session, attended by regional heads of state and government. Brou said the Bank had provided “invaluable technical and financial interventions…in the implementation of numerous projects and programmes”.

ECOWAS endorses Adesina for second term as President of the African Development Bank

23-Dec-2019 - The Economic Community of West African States (ECOWAS) has endorsed the candidacy of African Development Bank President Akinwumi Adesina for a second term at the helm of the institution. The decision was announced at the end of the fifty-sixth ordinary session of the Authority of Heads of State and Government of ECOWAS, held on Saturday in Abuja, Nigeria.