Category: Business

The African Development Bank, with the support of the Korea-Africa Economic Cooperation Fund (KOAFEC) brought together 40 customs officials from Burkina Faso, Mali, Niger and Chad for training to strengthen customs capacity. The training is intended to modernize and reform the sector.   Countries in Africa’s Sahel and other interior regions face several economic challenges: lack of direct access to… Read More

The Board of Directors of the African Development Fund, the concessional lending arm of the African Development Bank Group, has approved a $12 million grant to the Democratic Republic of Congo (DRC) to implement the Financial Sector Development and Inclusion Support Project in the country. The funding will support financial sector reforms in the country and improve financial inclusion for… Read More

Africa can only reach its full development potential with its women. I have always been insistent that no bird can fly or soar with one wing. Likewise, Africa can only fly on the wings of men and women. For generations, Agriculture has been a critical component of Africa’s economy. The bulk of the food Africa eats is produced by women… Read More

On 21 October 2022, the African Development Bank and the Mano River Union Secretariat hosted an event to launch the Project to Build Inclusive Business Ecosystems for Stabilization and Transformation in the Mano River Union (BI-BEST) in Freetown, Sierra Leone. Launching the $4.25 million project, Sierra Leone’s Minister of Gender and Children’s Affairs, Manty Tarawalli, commended the African Development Bank… Read More

The Board of Directors of the African Development Bank has approved a loan of $179.66 million to support government reforms to restore post-pandemic fiscal stability and economic recovery. The funds for phase II of the program will build on the successes of the first phase by supporting policy measures designed to boost economic recovery, further ease private sector participation in… Read More

The island nation of Mauritius is set to host the 2022 African Economic Conference (AEC) from 9 to 11 December. The African Economic Conference is Africa’s leading forum for discussing the continent’s emerging challenges and opportunities. It is jointly hosted by the African Development Bank, the Economic Commission for Africa, and… African Development Bank Group Read More

The African Development Bank and Global Center on Adaptation today launched a new initiative under the Technical Assistant Programme of the Africa Adaptation Acceleration Program to help African countries access more climate adaptation funding. A  climate rationale is the scientific basis of a project and describes the climate change scenario, outlining the climate problem in a particular country (e.g., flooding, droughts… Read More

The Board of Directors of the African Development Fund, the African Development Bank Group’s concessional lending window, has approved a grant of 6.4 million USD  to Gambia to implement the Incentive-Based Risk-Sharing System for Agricultural Lending Establishment Project (GAMIRSAL). The project will increase access to loans from financial institutions for agricultural value chain stakeholders. It will mobilize resources to promote… Read More

What:        United Nations Biodiversity Conference (COP 15) Who:         African Development Bank, United Nations Biodiversity, World Wildlife Fund, United Nations Environment Programme and other partners          When:       7-19 December 2022                             Where:      Montreal, Palais des Congrès The African Development Bank will attend major negotiation sessions of this Fifteenth meeting of the Conference of the Parties (COP15) to the Convention on… Read More

After a year of intense negotiations and a difficult global economic outlook, development partners of the African Development Fund (ADF) have agreed to commit a total package of $8.9 billion to its 2023 to 2025 financing cycle. It is the largest replenishment in the history of the Fund. ADF is the concessional window of the African Development Bank Group, providing grants… Read More