The African Union, the African Development Bank Group and Africa50—in partnership with several global partners—have launched the Alliance for Green Infrastructure in Africa (AGIA), an initiative to help scale and accelerate financing for green infrastructure projects in Africa. The collaborating global partners working with the African Union, African Development Bank and Africa50 are the African Union Development Agency, the European… Read More

The Board of Directors of the African Development Fund, the concessional lending arm of the African Development Bank Group, on 2 November 2022 in Abidjan, approved a $6.63 million grant to the Common Market for Eastern and Southern Africa (COMESA) to develop the pharmaceutical sector in the sub-region. The project, which will be implemented over three years (2023-2025), is institutional… Read More

An African initiative to increase solar generation capacity to provide 250 million people with electricity access across Africa’s Sahel region for socio-economic development continues to attract financial support from around the world. Launched in 2019 by the African Development Bank Group and its partners, the Desert to Power initiative is designed to make Africa a renewable power house. Desert to… Read More

The African Development Bank’s Director General for Central Africa, Serge N’Guessan, led a delegation for a series of talks with stakeholders in the Cameroonian private sector, including women entrepreneurs, between 24 and 30 September 2022 in Douala.  Professional associations and the financial institutions that partner with them under the Bank’s Affirmative Finance Action for Women in Africa” initiative also took… Read More

Country managers of the African Development Bank Group and representatives of the Southern African Development Community (SADC) Secretariat last month held a series of discussions on deepening regional integration across the 16-nation  body, through increased cooperation. The discussions took place during a meeting held on 24 October in Gaborone, Botswana.  The engagement is also expected to lay the groundwork for… Read More

Twenty African youth-led enterprises have won grant funding of up to $100,000 each in this year’s African Youth Adaptation Solutions Challenge (YouthADAPT) competition. In addition to the grant, each winner benefits from a 12-month accelerator program to help them grow their businesses, deepen their impact and create decent jobs. The annual competition and awards program for youth-led enterprises—which is 50%… Read More

The Board of Directors of the African Development Bank has approved a loan of $160 million to Banque Misr to finance Egyptian businesses that invest in key sectors of the economy. The loan comprises a $130 million line of credit from the Bank and an additional $30 million in funds from the Africa Growing Together Fund (AGTF). The financing will… Read More

The African Development Bank and the Eastern and Southern African Trade and Development Bank (TDB) have united to launch a unique financial instrument to catalyze financing for sustainable development on the continent. At the ongoing global climate summit, COP27, the African Development Bank on Wednesday announced an investment commitment of $ 15 million in TDB’s Class C Green+ Shares. This… Read More

At the end of a three-day official visit to Angola, African Development Bank Group’s Director General for Southern Africa Leila Mokaddem has commended the Lusophone nation for its ongoing economic reforms. Mokaddem visited Angola from 8 to 9 November 2022 where she met with members of the government in key portfolios. Her visit focused on the preparation of a new… Read More