Ecobank and African Guarantee Fund have signed a Transformative USD 200 Million Risk Sharing Agreement. This, according to the Bank, is the largest guarantee facility in sub-Saharan Africa. The risk sharing agreement marks the third renewal of the partnership between Ecobank (www.Ecobank.com) and AGF. SMEs from across 27 African markets in which Ecobank operates will…
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 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…
The Board of Directors of the ECOWAS Bank for Investment and Development (EBID) during its just-ended 85th Ordinary Session in Lomé, Togo has approved XOF 65 billion for the financing of infrastructure development projects in the subregion. Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID, stated that the amount…
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…
The African Development Bank President, Dr Akinwumi Adesina, has submitted that the global financial architecture constrains Africa’s development, recommending five ways it can be made fairer. Speaking at a high-level roundtable—Towards a Fair International Financial Architecture—at the 78th United Nations General Assembly last week, Adesina said the international financial architecture was not delivering the scale of…
Africa Finance Corporation (www.AfricaFC.org), the leading infrastructure solutions provider on the continent, today announced the successful signing of a US$300 million loan facility agreement with the Export-Import Bank of China (CEXIM). This landmark agreement, signed on the sidelines of the Asian Infrastructure Investment Bank (AIIB) Annual meetings in Egypt, is poised to drive increased trade…
