African Development Bank
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African Development Bank Backs Mozambique with $33 Million for Food Security and Climate Resilience
In a significant move to bolster food security and climate resilience in Mozambique, the African Development Bank (AfDB) has committed $33 million to support agricultural and meteorological initiatives in the region. This investment, approved by the AfDB’s board in January, is part of a larger $150 million program co-financed with the Mozambican government and other…
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AfDB supports development of satellite observations for African early warning systems
The recently released Hydromet Gap Report highlighted weaknesses in Africa’s weather and climate observation systems that contribute to a lack of climate data and inadequate early warning systems. The report calls for the establishment of ground and upper air stations for basic observation and satellite data coverage to strengthen forecast and early warning mechanisms for extreme weather…
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African Development Bank wins global award for COVID-19 bond issue
The winners of the GobalCapital Bond Awards 2020 were announced on 30 September at a ceremony held virtually for the first time in 12 years The African Development Bank (https://www.AfDB.org/) was selected in a poll of bond market players as the best issuer in 2020 of a COVID-19 bond for its $3 billion dollar-denominated Fight…
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Mauritius: AfDB approves emergency relief to boost clean-up of marine oil spill
Funding, to be sourced from the Special Relief Fund, will complement ongoing activities by the government of Mauritius, development partners, and other actors The Board of Directors of the African Development Bank (www.AfDB.org) on Wednesday approved a $500,000 emergency assistance grant to support internationalrecovery efforts after a significant oil spill earlier this year off the coast…
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Global Center on Adaptation sets up regional home at the African Development Bank
Hosted by the African Development Bank at its headquarters in the Ivorian commercial capital, Abidjan, GCA Africa will work with partners across the continent African leaders welcomed the opening of a regional office of the Global Center on Adaptation on Wednesday, voicing hopes it will spur the continent’s efforts to combat climate change. In speeches…
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African water and sanitation projects critical to preparedness for COVID-19-like pandemics
By Wambui Gichuri Wambui Gichuri is the Acting Vice President, Agriculture, Human and Social Development and Director, Water Development and Sanitation at the African Development Bank (https://www.AfDB.org/)As the prevalence of COVID-19 accelerates across Africa, over 40% of the population in Sub-Saharan Africa do not have access to clean water and are unable to heed the…
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AfDB wins industry gong for pioneering 2019 social bond issue
This Environmental Finance 2020 bond award was given by an independent panel comprising 30 of the world’s largest green, social and sustainability bond investors The African Development Bank (www.AfDB.org) received on 30 March 2020 an award for its successful one billion Norwegian krone (NOK) social bond issued in 2019. This Environmental Finance 2020 bond award…
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AfDB approves $60 million loan to support Elnefeidi Group’s agricultural expansion
The loan is expected to contribute significantly to food security, food import substitution, and household incomes by creating jobs and increasing local productivity and distribution The African Development Bank’s (www.AfDB.org) Board of Directors has approved a $60m loan to Elnefeidi Group Holding Company to help finance its long-term agriculture and food expansion programme. The planned…
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Over 3 million Tanzanian, Kenyan people to benefit from AfDB’s €345 million road construction support
The total amount of co-financing is expected to be more than $ 1.2 billion when subsequent phases of the project are concluded Over three million people in Tanzania and Kenya will benefit from a €345 million financing package for road construction support, approved by the African Development Bank’s (https://www.AfDB.org/) board in Abidjan on Thursday. The…
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African Development Bank welcomes Fitch’s affirmation of AAA Rating
The rating provides a significant boost for the Bank at a time when it is discussing a substantial general capital increase to finance its strategy and activities over the next few years The Fitch rating, of the African Development Bank (https://www.AfDB.org), published 24th July in London, is affirmed as AAA, with a stable outlook, on…
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AfDB President Akinwumi Adesina leads delegation to IMF-World Bank Springs meeting
African Development Bank (www.AfDB.org) President Akinwumi Adesina is expected in Washington DC, on Monday, to take part in the IMF/ World Bank Spring meetings from 9-12 April. Dr. Adesina and a delegation of senior Bank officials, are expected to meet with US Congresswoman Karen Bass, who serves on the House Committee on Foreign Affairs where…
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AfDB pledges US$ 25 billion to climate finance for 2020-2025, doubling its commitments
The African Development Bank (www.AfDB.org) will double its climate finance commitments for the period 2020-2025, the Bank’s President announced today at the One Planet Summit taking place in Nairobi. Akinwumi A. Adesina said that the Bank would commit at least US$25 billion towards climate finance. Speaking at a plenary in the presence of Heads of…
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African Development Bank calls for scale up in implementation of sanitation targets,
The African Development Bank (www.AfDB.org) has called on development partners to scale up support for implementation of sanitation programs to fast track Africa’s progress and deliver on its promise to the continent. “Achieving the Ngor Commitments and the ambitious targets for sanitation and hygiene within the Global Development Agenda can only become a reality if…
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Opportunities in agri-business: Exploiting The Strive Masiyiwa Model
The Founder and Executive Chairman of the Econet Group, Strive Masiyiwa, noted via Facebook that his friend, Akinwunmi Adesina, President of the African Development Bank (AfDB), used to tell him that “Agriculture is not a development activity, but an industry.” That is not far from the truth because the importance of agriculture in Nigeria cannot be…
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Curtain falls on COP24 in Poland: AfDB resolute against climate change in Africa
During the two weeks of the conference, the African Development Bank assumed its role as primary champion of African interests and a steadfast supporter of African negotiators The curtain has fallen on COP24 (www.COP24afdb.org), this year’s global climate summit held in Katowice, Poland. However, negotiations continued throughout the weekend to reach agreement on specific parts of the…
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African Development Bank, Africa50 in Landmark Bridge Project Linking Kinshasa and Brazzaville
On the sidelines of the Africa Investment Forum, the African Development Bank and Africa50 have signed yesterday an agreement with the Democratic Republic of Congo and the Republic of Congo to develop and finance the first road-rail bridge project linking their capitals – Kinshasa and Brazzaville. Under the terms of the framework agreement, the two…
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Senior appointments at the African Development Bank
The President of the African Development Bank Group (www.AfDB.org), Dr Akinwumi A. Adesina, is pleased to announce the following senior appointments. Director, Integrity and Anti-Corruption Mr. Alan Bacarese has been appointed the Director for Integrity and Anti-Corruption in the Office of the President with effect from January 1, 2019. Alan, a British national, comes with 30 years of experience as a…