Tag: African Development Bank

The Board of Directors of the African Development Bank Group has approved a $10 million reimbursable grant from the Sustainable Energy Fund for Africa (SEFA) to support a geothermal drilling program that will add 50 megawatts of renewable energy to Ethiopia’s power system. The Tulu Moye Geothermal Operations PLC (TMGO) project entails developing and operating a 50-megawatt power plant in Ethiopia… Read More

Eradicating hunger in Africa by 2030 is possible, said global agriculture leaders in Rome. Meeting ahead of the African Food Summit (Dakar 2), to be hosted by President Macky Sall in Dakar, Senegal, from 25-27 January 2023, African Development Bank Group Chief Akinwumi Adesina, the leadership of the International Fund for Agricultural Development (IFAD) and the Food and Agriculture Organization (FAO)… Read More

The African Exchanges Linkage Project (AELP) has launched an e-platform (The AELP Trading Link), enabling seamless cross-border securities trading among seven African stock exchanges representing 2,000 companies with roughly $1.5 trillion market capitalization.  The AELP Link Trading Platform incorporates stock market integration, an order routing system, and market and order-book data sharing.  AELP is a joint initiative of the African… Read More

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