Category: Business

Zimbabwe has received reassurance of support for a strong push to help it clear its debt arrears. African Development Bank Group President Dr. Akinwumi Adesina, representatives of multilateral finance institutions, the Zimbabwean government, and other partners have agreed to work together to develop an action plan that will resolve the country’s debt arrears. Zimbabwe owes $13.5billion to multilateral financial institutions,… Read More

The Board of Directors of the African Development Bank Group on Wednesday 13 July approved a €50 million unfunded risk-sharing facility partnership with Societe Generale to further support trade finance activities across Africa. The facility will contribute to reducing Africa’s trade finance gap by enhancing Societe Generale’s risk bearing capacity by up to fifty percent, enabling it to provide increased… Read More

The African Development Bank Group has approved on 13 July 2022 a $400,000 technical assistance grant to the Deposit and Consignment Office of Côte d’Ivoire (CDC-CI, a State bank handling official deposits). The funding comes from the Capital Markets Development Trust Fund, a multi-donor fund administered by the African Development Bank. The grant will help the CDC-CI to better support… Read More

Publish What You Fund, the global campaign for aid and development transparency, has named the African Development Bank the most transparent organisation in the world. The Bank’s Sovereign Portfolio now ranks first out of 50 global development institutions in Publish What You Fund’s 2022 Aid Transparency Index, released today with a top score of 98.5. African Development Bank Group President,… Read More

The Board of Directors of the African Development Bank Group approved an €87 million loan to implement the Support Program for the Generalization of Social Coverage in Morocco The primary objective of this operation is to consolidate the foundations of a viable social protection program based on an integrated and inclusive approach. The program will contribute to extending social protection,… Read More

The African Development Bank Group has released a new report providing a snapshot of results of regional operations financed by its concessional lending window, the African Development Fund (ADF), over the last decade. The report, “Crossing Borders, Connecting Communities, Changing Lives,” reviews and documents the impacts of  the regional operations envelope since ADF-13 (the 13th replenishment of the ADF). Contributing… Read More

The African Development Bank and the Government of Cameroon have launched the Regional Programme to Strengthen the Mandates of Supreme Audit Institutions. The launch took place during a ceremony held on 21 June 2022 in Yaoundé, Cameroon.  The Cameroonian Minister Delegate at the Presidency in charge of Superior Audit, Ms Mbah Acha Rose Fomundam, presided over the meeting in her… Read More