Investments 

The pandemic is no time for fiscal distancing

These are very difficult days, as the world faces one of its worst challenges ever: the novel coronavirus pandemic. And it seems almost no nation is spared. As infection rates rise, so does panic across financial markets, as economies drastically slow down, and supply chains are severely disrupted.  Extraordinary times call for extraordinary measures. As such, it can no longer be business as usual.  Each day, the situation evolves and requires constant reviews of precautionary measures and strategies. In the midst of all this, we must all worry about the…

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Investments 

Opinion: The pandemic is no time for fiscal distancing

Akinwumi Adesina is the President of the African Development Bank. He was formerly Nigeria’s Minister of Agriculture and Rural Development and and is the 2017 World Food Prize laureate. The views expressed are solely those of the author. (CNN)These are very difficult days, as the world faces one of its worst challenges ever: the novel coronavirus pandemic. And it seems almost no nation is spared. As infection rates rise, so does panic across financial markets, as economies drastically slow down and supply chains are severely disrupted.  Extraordinary times call for extraordinary measures.…

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Investments 

African Development Bank Group approves Gender Equality Trust Fund and Risk-Sharing Mechanism to improve women’s economic empowerment in Africa

The Board of Directors of the African Development Bank Group have approved a new Gender Equality Trust Fund (GETF) aimed at pushing forward gender equality and women’s empowerment across the continent. Funded by donors, the GETF will support the delivery and scale-up of the Bank’s Affirmative Finance Action for Women in Africa (AFAWA) programme and promote gender transformative lending and non-lending operations. It is the first thematic fund on gender in the Bank Group’s history. The Fund will be established for an initial period of 10 years. AFAWA is the…

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Investments 

African Development Bank approves $1.5 million emergency grant to curb desert locusts ravaging East and Horn of Africa

The Board of Directors of the African Development Bank on Wednesday approved a $1.5 million emergency relief grant to assist nine countries in the East and Horn of Africa on the control of swarms of desert locusts that are threatening livelihoods and food security. The proposed assistance will be channeled to the Intergovernmental Authority on Development (IGAD), which has been mandated to mobilize resources on behalf of the African Union. IGAD is collaborating with the UN’s Food and Agriculture Organization (FAO) which is leading coordination of development partner support to…

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Investments 

African Development Bank approves $2 million emergency assistance for WHO-led measures to curb COVID-19 in Africa

The Board of Directors of the African Development Bank on Tuesday approved  $2 million in emergency assistance for the World Health Organization (WHO) to reinforce its capacity to help African countries contain the COVID-19 pandemic and mitigate its impacts. The grant, which is in response to an international appeal by the WHO, will be used by the world body to equip Regional Member Countries to prevent, rapidly detect, investigate, contain and manage detected cases of COVID-19. It is one part of several Bank interventions  to help member countries address the…

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Investments 

Mauritanie : le projet « Aftout Essahli » à Nouakchott améliore l’accès à l’eau potable et offre de nouvelles perspectives

Un coup d’œil dans le four, un petit réglage du feu, Alune Mbodj contemple ses baguettes de pain en train de dorer. « Ce métier me plaît », lance-t-il en se retournant. « Avant de venir ici, je travaillais dans un village qui s’appelle Naima. C’est très dur de faire du pain là-bas parce qu’il n’y a pas d’électricité. Et ce n’est pas non plus facile de trouver de l’eau », soupire le boulanger trentenaire. « À Naima, il y a un forage mais on est obligé d’aller prendre l’eau dans 10 à…

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Mozambique: Government and African Development Bank sign financing for Mueda-Negomano road phase II

The Government of Mozambique and the African Development Bank have signed a protocol agreement for a $34 million grant for the paving of the 35-km Nambungali-Roma road to facilitate trade and promote social inclusion of local communities. Mozambican Finance Minister Adriano Maleiane and Bank Country Representative, Pietro Toigo signed for their respective sides on 24 February. The works form part of the second phase of the Mueda – Negomano Road Project, which seeks to improve transport infrastructure between Mozambique and Tanzania. The successful completion of the project will complement the…

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Investments 

Dans l’ouest de la Mauritanie, un projet met fin à l’exode des agriculteurs et éleveurs

Lancé en 2005, grâce à la Banque africaine de développement, le Projet d’aménagement hydro-agricole du Brakna ouest (PAHABO) a permis de surmonter les aléas climatiques dans l’ouest de la Mauritanie, de créer une dynamique socio-économique locale et de retenir l’attention des groupes cibles. Au final, un phénomène d’exode inverse a même été observé avec le retour de plus de 1500 familles dans la zone du projet. « Nous sommes issus d’une famille d’agriculteurs et d’éleveurs et nous avons grandi dans ce milieu. Nous avons commencé par planter des arbres fruitiers que nous…

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Investments 

Zimbabwe: African Development Bank approves $8.25 million loan to food producer Olivine Industries

The Board of Directors of the African Development Bank Group has approved a $8.25 million corporate loan to Olivine Industries Limited to support the company’s food production expansion plan in Zimbabwe. The Bank’s loan, approved on Wednesday, will enable the company to construct new processing plants for margarine and tomato sauce and install upgraded machinery with advanced technologies. Olivine plans to increase its domestic and regional production capacity and food supply. “With this transaction, the Bank will provide long-term hard currency financing in the Zimbabwean market, and create a strong…

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Investments 

African Development Bank launches record breaking $3 billion “Fight COVID-19” Social Bond

The African Development Bank (AAA) has raised an exceptional $3 billion in a three-year bond to help alleviate the economic and social impact the Covid-19 pandemic will have on livelihoods and Africa’s economies.   The Fight Covid-19 Social bond, with a three-year maturity, garnered interest from central banks and official institutions, bank treasuries, and asset managers including Socially Responsible Investors, with bids exceeding $4.6 billion. This is the largest Social Bond ever launched in international capital markets to date, and the largest US Dollar benchmark ever issued by the Bank.…

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