Tag: African Development Bank

African agriculture ministers attending the United Nations climate summit in Egypt reiterated a commitment to work with development partners to unlock the continent’s agriculture potential. During the special ministerial session, there was a strong consensus that Africa can feed itself if supported with green financing and climate-smart technology to boost agriculture productivity. The African Development Bank hosted the event to… Read More

In partnership with the African Development Bank Group, the Swiss Confederation through the Swiss State Secretariat for Economic Affairs (SECO)  and Spain today at COP 27  announced additional financial support to African countries and cities bearing the brunt of climate change. Switzerland and Spain confirmed  they will each donate approximately 5 Million euros to the African Development Bank Group’s Urban… Read More

Resources at scale are needed to provide communities in fragile settings with access to safe water, core to foster climate resilience, say African Development Bank and UNICEF during ongoing COP27 in Egypt According to a recent report by Oxfam, Hunger in a Heating World, 7 of the 10 countries most vulnerable to climate risks are in Africa. One of these… Read More

Former Irish president Mary Robinson headlined a panel discussion to mark ‘Gender Day’ at the 27th United Nations Climate Change Conference (COP27) in Egypt. She called for a bespoke climate fund to support grassroots women to tackle climate change and build resilience. The African Development Bank organized the session held during COP27 in Sharm El Sheikh under the theme, Gender… Read More

Germany has committed €40 million to the African Development Bank Group’s Climate Action Window, German State Secretary for Economic Cooperation and Development Jochen Flasbarth has announced.  The contribution is to support climate adaptation in fragile African states. Flasbarth made the announcement during a ministerial panel for climate-vulnerable countries and champions of adaptation finance at the 27th session of the UN… Read More

What? Panel Discussion: “Financing Nature for Resilient Communities and Economies” Who? Natural Resource Management and Investment Centre of the African Development Bank Group, Worldwide Fund for Nature (WWF), World Resources Institute (WRI), Cities4Forests, World Bank Group, Global Facility for Disaster Risk Reduction (GFDRR), Green Growth Knowledge Platform (GGKP), Caterpillar Foundation When? Wednesday, 16 November 2022 (COP27 Biodiversity Day), 17:00-18:30 EGT… Read More

The Board of Directors of the African Development Bank Group today approved an equity investment of $20 million in Evolution Fund III, a pan-African clean and sustainable energy private equity fund that is mobilising about $400 million into renewable energy and resource-efficiency assets across sub-Saharan Africa over a 10-year period. Inspired Evolution Investment Management is a well-established fund manager with… Read More

The African Development Bank has released its latest East African Economic Outlook, predicting a slow recovery in the region in 2022 at 4.0 percent against 5.1% in 2021. The slowdown is due to the lingering effects of COVID-19; the adverse impacts of geopolitical tensions (notably the Russia-Ukraine conflict); climate change and devastating locust invasion, together with regional conflicts and tensions. … Read More

The president of the African Development Bank shares his views on investment opportunities, financial management and the growing threat of climate insecurity.​ At this year’s African Investment Forum in Abidjan, Akinwumi Adesina, president of the African Development Bank (AfDB), proudly announced $63.8bn in investment pledges for the continent. African Business managed to catch up with him before he flew off to… Read More

The Egyptian government has launched the Sharm El Sheikh Guidebook for Just Financing at a roundtable event held 10 November during  COP27. The guidebook was produced jointly by the Egyptian Ministry of International Cooperation and more than a hundred development partners, corporations, development finance institutions and non-profit organizations. These include the International Monetary Fund, Rockefeller Foundation, the World Economic Forum,… Read More