The Executive Vice Chairman/Chief Executive Officer (EVC/CEO), National Agency for Science and Engineering Infrastructure (NASENI), Mr. Khalil Suleiman Halilu is set to detail the Agency’s plans and strategies for rural electrification in Nigeria using homegrown technologies at the 2023 United Nations Climate Change Conference, also known as Conference of the Parties (COP28), holding at the…
The Board of Directors of the African Development Bank Group has approved the Country Strategy Paper (CSP) 2023-2028 for Malawi. The strategy focuses on two priority areas: improving economic infrastructure to develop the industrial sector by investing in energy, transport, water, sanitation, and hygiene, and supporting economic diversification through investments in agriculture value chains. “The…
The African Development Bank Group has committed €43 million to two new projects that will boost access to hygiene, water and sanitation and the resilience of vulnerable communities in Burkina Faso. The projects, which the Burkinabe government launched on 21 November, include the Water and Sanitation Services Improvement Project for Resilience Building (PASEPA-2R), covering six…
With $6.2 trillion worth of natural resources, 65 percent of the world’s uncultivated arable land, and a vibrant youth population, Africa has no excuse to be poor, African Development Bank Group President Dr Akinwumi Adesina said on Tuesday. He said the continent must look inward urgently to solve its many challenges and urged citizens to hold governments…
The Board of Directors of the African Development Bank has approved a loan of €73 million to Kenya to support Phase III of the Competitiveness and Economic Recovery Support Programme. The financing will cover the fiscal year 2023-2024. It is intended to build resilience and support inclusive post-Covid-19 economic recovery, by improving economic governance and…
The African Development Bank has revised its short to medium-term macroeconomic forecast for Africa, for 2023 and 2024 downwards to 3.4% and 3.8%, from 4.0% and 4.3%. The slightly lower figures reflect the persistent long-term effects of COVID-19, geopolitical tensions and conflicts, climate shocks, a global economic slowdown, and limited fiscal space for African governments…
The Board of Directors of the African Development Bank Group has approved a €101.10 million loan to Kenya to implement the third phase of the Last Mile Connectivity Project. The project will improve electricity access for households, social infrastructure and micro, small and medium enterprises. The project will also benefit from a $13.17 million (€12.12 million) loan…
The African Development Bank will mobilize financing for climate action at this year’s UN Climate Change Conference, COP28, and amplify Africa’s calls for robust commitments by wealthy countries to meet the continent’s urgent needs in addressing climate change. The Bank Group, led by its President, Dr Akinwumi Adesina, will launch and cement several climate action…
The Board of Directors of the African Development Bank Group has approved an $80 million loan to finance the Ekiti Knowledge Zone project in Nigeria. The Zone seeks to promote digital innovation and entrepreneurship, generate 26,000 jobs, and contribute some $14 million annually in net economic benefits. The Ekiti Knowledge Zone is a federal government-backed…
The African Development Bank has signed three technical assistance grant agreements with the government of Libya, reaffirming its commitment to the North African country. The agreements were signed in Tripoli, the Libyan Capital, on 21 November 2023, the first day of a consultation mission by an African Development Bank delegation led by Mrs Malinne Blomberg, deputy…
