Investments 

African Development Bank's Akinwumi Adesina heads to UK-Africa investment summit: Revitalizing economic ties top of agenda

New opportunities for bi-lateral trade and increasing UK investor appetite in Africa will be the main focus of the UK-Africa summit, convened by Prime Minister Boris Johnson, on January 20th. African Development Bank President Akinwumi Adesina is expected in London for the milestone investment summit aimed at forging new partnerships under the theme: ‘Partners for prosperity.’ Africa, a continent brimming with investment opportunities, is home to six of the ten fastest-growing economies in the world.  The Summit will bring together businesses, governments, and international institutions to showcase and promote the…

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Investments 

Trading thrives as new highway financed by the African Development Bank opens up northern Togo

Every Tuesday, Alemondji market in northern Togo swarms with people. Amid the throng, Burkinabe and Ghanaian traders offer clothes and kitchen utensils for sale. Others, calling out their wares, come from the nearby towns of Lawagnon, Moreta and Issati. Their stalls overflow with peanuts, millet, sorghum, sesame and beans. “Just a few years ago, it was no easy matter to travel to this market. It was open for three days in succession, Tuesday to Thursday, and then again on Sunday, but we only came for one day, because our main…

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Investments 

The African Development Bank signs €6 million grant for São Tomé and Principe

The African Development Bank on Wednesday signed a €6.18 million grant in budgetary support to the Democratic Republic of São Tomé and Principe. The agreement was signed at the Bank’s headquarters in Abidjan, Côte d’Ivoire, by Osvaldo Vaz, Minister of Planning, Finance and the Blue Economy of São Tomé and Principe and by Khaled Sherif, Vice President for regional development, integration and service delivery. The Bank approved the budgetary support to São Tomé and Principe on 8 January 2020 under its programme to support economic reform and the energy sector.…

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Investments 

NSO Policy Interviews – Victoria Chisala

5 Questions to Victoria Chisala, Acting Director of the Policy and Strategy Department’s on the African Development Bank’s Non-Sovereign Operations policy.* What is the objective of the Non-Sovereign Operations policy? The objective of the NSO policy dissemination is to expand the Bank’s engagement with the private sector to increase synergies between us. It is also an opportunity to provide information about the type of projects we finance or invest in as the African Development Bank. Ultimately, our goal is to support the transformation of the continent and we cannot do…

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Investments 

Zimbabwe: African Development Bank, UN and World Bank launch 2019 Needs Assessment Report to spur economic recovery

The African Development Bank, United Nations and World Bank Group recently launched the Zimbabwe 2019 Joint Needs Assessment Report. The study, the first to be prepared jointly in Zimbabwe by the three organizations, was produced after the Government of Zimbabwe requested them to assess the scope of challenges and needs. The southern African nation has engaged on a path to accelerate policy and legal reform for economic recovery and inclusive growth. This includes investments in quality social services; social cohesion and peace; improved governance; and re-engagement with the international community.…

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Investments 

African Development Bank unveils Policy on Non-Sovereign Operations

The African Development Bank Group on Monday organized a workshop to share its approach to private sector funding through its new policy on Non-Sovereign Operations (NSO Policy). The policy provides the general framework and modalities required for Bank lending and investment without sovereign guarantee to private and public entities that meet specific eligibility requirements on non-concessional terms. The workshop, held in Abidjan, was attended by government officials, diplomats, private sector representatives, partner organizations and the civil society. Bank officials engaged with key stakeholders and partners on its policy stance in…

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Investments 

African Development Bank signs five-year agreement to use International Federation of Consulting Engineer (FIDIC) standard contracts

The International Federation of Consulting Engineers (FIDIC) has secured a major agreement with the African Development Bank that will see the international funding organisation include the use of seven FIDIC standard contracts for the next five years. Under the terms of the agreement, FIDIC has granted the Bank a non-exclusive licence to refer to the seven major FIDIC contracts (see list in notes below) for projects they finance and the documents may be used as part of the Bank’s standard bidding documents. The contracts include the latest 2017 Second Edition…

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Investments 

8th Governing Council meeting of the Africa Fertilizer Financing Mechanism

What: 8th Governing Council meeting of the Africa Fertilizer Financing Mechanism When: 24 January 2020, 9:00am to 4:00pm Where: African Development Bank – CCIA Building, Abidjan, Côte d’Ivoire The Africa Fertilizer Financing Mechanism (AFFM) will convene its 8th Governing Council (GC) meeting on 24 January 2020, at the African Development Bank, CCIA building in Abidjan, Côte d’Ivoire. The meeting will review the AFFM’s 2019 annual report, its 2020 work programme and administrative matters. Council members will also discuss resource mobilization efforts to support the implementation of the Mechanism’s future activities.…

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Investments 

African Development Bank approves $20 million investment in Metier Fund to support renewable energy in Sub-Saharan Africa

The Board of Directors of the African Development Bank has approved a $20 million investment in the Metier Sustainable Capital International Fund II, which channels funds to renewable energy and resource-efficient infrastructure projects across Sub-Saharan Africa. The Bank’s funding will contribute to production of an additional 178.5 megawatts of renewable power for commercial and residential use. It will also create opportunities for industrial waste water treatment and waste-to-energy generation. The Fund will meet the Bank’s strict environment and safeguards standards to ensure potential risks are adequately mitigated. Highlighting the relevance…

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Investments 

La Banque africaine de développement octroie un don de 976000 euros pour le Projet d’appui au démarrage du marché financier unifié d’Afrique centrale

Le Gouverneur de la Banque des Etats de l’Afrique Centrale (BEAC), Abbas Mahamat Tolli et le Responsable-Pays du Groupe de la Banque africaine de développement (BAD) au Cameroun, Solomane Koné, ont procédé le 21 décembre 2019 à Douala, au Cameroun, à la signature d’un accord de don d’un montant de 783 328 UC, (environ 976 000 euros), portant financement, par la Banque, des activités du Projet d’appui au démarrage du marché financier unifié d’Afrique centrale (Projet AMFUAC). La Cérémonie s’est déroulée en marge de la 10e session des travaux du…

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