The African Export-Import Bank (Afreximbank) and the Export-Import Bank of China (CEXIM) have signed an agreement for US$600 million loan to fund loans and trade finance transactions. The purpose of the loan is to facilitate and finance the trade and economic cooperation between the member states of Afreximbank and the People’s Republic of China (PRC)….
IDFC Annual Meeting is taking place on the margins of the World Bank/IMF 2023 Annual Meetings in Marrakech, Morocco. The international group of 26 leading national and regional development banks gathered for its Annual Meeting on the sidelines of the World Bank/IMF 2023 Annual Meetings. IDFC Annual Meeting was marked by the election for the…
Egypt issues Africa’s first Sustainable Panda Bond worth 3.5 billion RMB backed by African Development Bank and Asian Infrastructure Investment Bank. She will use the bond proceeds for inclusive growth and green objectives under its Sovereign Sustainable Financing Framework Egypt has successfully issued a 3-year Sustainability Panda Bond worth RMB 3.5 billion ($478.7 million). The North African…
The DFC and Africa Data Centres (www.AfricaDataCentres.com) have signed a statement reaffirming their shared commitment to strengthen ICT infrastructure in Africa and Africa Data Centres’ intent to mobilise part of its existing DFC-financing commitment of $300 million to construct a first-of-its-kind data centre in Ghana; The investment is part of the organisation’s plan to strengthen ICT…
The Board of Directors of the African Development Bank Group  has approved a grant of $6.72 million to The Gambia to support implementation of the first phase of the Public Financial Management and Economic Reform Programme. The Bank’s financial support comes under Pillar 1 of the Transition Support Facility, which is intended for states affected by…
The inaugural board meeting of the AfCFTA Adjustment Fund Corporation held on Friday in Kigali. The board members deliberated on key issues that will serve as a foundation for the successful operationalisation of the AfCFTA Adjustment Fund. Amongst these include the appointment of the Fund for Export Development in Africa (FEDA), the impact investment platform…
The International Monetary Fund (IMF) has strongly supported a call by the African Development Bank Group (www.AfDB.org) urging countries in Africa to stop borrowing loans backed by their natural resources. The IMF Managing Director Kristalina Georgieva met Thursday with the President of the African Development Bank Group, Dr Akinwumi Adesina, in Abidjan, Cote D’Ivoire. It…
The African Development Bank Group (www.AfDB.org) and the ECOWAS Bank for Investment and Development (EBID) have signed an agreement for a dual currency line of credit comprising $50 million and €50 million to support local agricultural businesses in West Africa. Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID, and…
The African Development Bank Group (www.AfDB.org) on Tuesday signed two loan agreements with the Government of Angola to improve access to climate-resilient and sustainable sanitation services in four coastal towns serving a combined population of 1.4 million. The agreements – for a $75 million loan from the African Development Bank and $49.4 million from the…
Africa’s progress on the Sustainable Development Goals (SDGs) and the African Union’s Agenda 2063 aspirations has been uneven, with significant differences among subregions, countries, and rural and urban areas. This calls for accelerated efforts to ensure that Africa achieves the global goals by the 2030 deadline, the latest Africa Sustainable Development report has stated. The…
