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 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 Gambia’s President Adama Barrow has conferred his country’s highest national award, the Grand Commander of the Order of the Republic of The Gambia, on African Development Bank Group President, Dr. Akinwumi Adesina (www.AfDB.org). The honour is in recognition of Adesina’s leadership role and contributions to development in The Gambia and Africa. President Barrow bestowed…
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…
The African Development Bank Group (www.AfDB.org) has appointed Ms Malinne Blomberg, a Swedish national, as Country Manager for Tunisia in addition to her current roles as Deputy Director General for North Africa and Country Manager for Libya and Mauritania. Blomberg, a seasoned development finance professional with more than 25 years of experience, has served extensively…
Gambian President Adama Barrow and African Development Bank Group (www.AfDB.org) head Dr Akinwumi Adesina pledged on Monday to work together to boost rice production and invest in the country’s vibrant youth and women entrepreneurs. “The Russian-Ukrainian war presents an opportunity for us to solve the problem of food security. There’s no reason why Africans shouldn’t feed…
Heads of State in the Economic Community of West African States (ECOWAS) have decided to speed up the construction of the highway between Abidjan and Lagos, a project for which the African Development Bank is playing a leading role in mobilizing funding. The Bank has already contributed USD 25 million to fund the preparatory phase…
This past June, world leaders gathered in Paris for the Summit for a New Global Financing Pact. The goal was to review and revise the current global financial architecture to create a more just and beneficial system, especially for the nations and people of the Global South. Discussions included rechannelling the International Monetary Fund’s (IMF’s)…
On 21st September 2023, the world marked the International Day of Peace. This year’s theme is Actions for Peace: Our Ambition for the #GlobalGoals, which the UN describes as a call to action for collective and individual efforts to foster peace. The African Development Bank Group has forged partnerships that underscore a commitment to achieving…
