The president of the African Development Bank Group, Dr. Akinwumi Adesina, has outlined the Bank’s successes in mobilizing financial resources for the continent’s development needs at the African Union. Addressing heads of state and government at the 6th Mid-Year Coordination Meeting of the AU in Accra, Ghana, Adesina highlighted the Bank’s recent general capital increase from $201…
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 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 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…
The Board of Directors of the African Development Bank Group on Wednesday 22 November 2023 approved a €86.89 million loan to Senegal to develop an agribusiness processing zone in the north of the country. The Bank’s contribution accounts for 30.7% of the estimated €283.05 million total project cost. The Islamic Development Bank (21.2%), the West…
The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a donation of EUR 34.27 million to Chad in Abidjan to implement the second phase of the Semi-urban and Rural Drinking Water Supply and Sanitation Programme in 11 of the country’s regions. The financial support comes from resources under Pillar I of…
Seven newly elected Nigerian State Governors visited the African Development Bank Group in Abidjan to strengthen cooperation and unlock the country’s vast agricultural potential. The delegation, meeting with Bank President Dr Akinwumi Adesina, was led by Katsina State Governor Mallam Dikko Umar Radda, and included Governors Dr Nasiru Idris of Kebbi State, Alhaji Umar Namadi…
