The Board of Directors of the African Development Bank has approved a $1 billion exposure exchange with the Asian Development Bank. The transaction will support its efforts to unlock additional sovereign lending headroom. It will also bolster continued efforts to create buffers within the African Development Bank’s capital adequacy metrics. This new exposure exchange agreement is the second transaction that… Read More

African Development Bank Group President Dr Akinwumi Adesina has completed a two-day official visit to Zambia where he met with President Hakainde Hichilema to discuss further support for the country as it emerges from a successful $6.3 billion debt restructuring for bilateral debtors, under the G20 Common Framework on debt treatment. President Hichilema noted that while his government had made a significant… Read More

In an exciting move to unleash the business potential of young Liberians, the Board of Directors of the African Development Fund (ADF) has given the green light for the creation of a Youth Entrepreneurship Investment Bank (YEIB) in the West African country. Approximately $16 million has been allocated to finance this strategic initiative, which targets youth-led micro, small, and medium… Read More

Development partners have committed to mobilize funding for a $900 million multinational power transmission line between Mauritania and Mali, connecting 620,000 people to electricity. The partners made the commitment at a roundtable in the Mauritanian capital, Nouakchott, on 17 July 2023. The discussions explored funding options for the project, which also entails developing solar power stations. The African Development Bank… Read More

Mauritania will receive $767,000 from the African Development Fund, the African Development Bank Group’s concessional financing window, to develop livestock farming, ranked the second-largest source of livelihood in the country. Mauritanian Minister of Economy and Sustainable Development, Abdessalam Ould Mohamed Saleh, and the Bank Group’s Deputy Director General for North Africa, Malinne Blomberg, signed a funding agreement in Nouakchott on… Read More

The Board of Directors of the African Development Bank Group on 14 July 2023 approved a loan of €80 million to Benin to upgrade and extend the Port of Cotonou, one of the main maritime access points for landlocked countries in West Africa. The loan comprises €55 million from the African Development Bank and €25 million from Africa Growing Together… Read More

A productive working meeting in Abidjan on Tuesday between Senior Vice-President of the African Development Bank Group Bajabulile Swazi Tshabalala and a delegation from the World Bank led by Managing Director for Operations Anna Bjerde has resulted in a mutual agreement to identify key areas for intervention and collaboration. This collaboration strengthens efforts to tackle poverty and climate change, develop… Read More