Tag: African Development Bank

The African Development Bank and the African Organisation of English-speaking Supreme Audit Institutions (AFROSAI-E) have officially launched a three-year support project to improve regional collaboration and coordination between public sector accountancy institutions in Africa, aimed at increasing professionalism and efficiency in the sector. The launch of the African Financial Integrity and Accountability Support Project (AFIAP) took place in Waterkloof Pretoria… Read More

The African Development Bank today signed a $60 million financial package comprising $50 million subordinated debt to support CRDB Bank’s regional expansion efforts and a senior loan of $10 million to accelerate access to finance for small businesses managed and owned by women in Tanzania. The facility is coupled with a $175,000 technical assistance grant from the African Development Bank’s… Read More

The Board of Directors of the African Development Fund has approved a $4.3 million grant to fund capacity building within Ethiopia’s finance ministry and related government departments, to enable the country tackle declining growth and other economic challenges. The Ministry of Finance will implement the project. The African Development Fund is the concessional lending arm of the African Development Bank… Read More

The African Development Bank Group’s Board of Directors has approved Egypt’s Country Strategy Paper for the 2022-2026 period. Under the new strategy, the Bank will be guided by the priorities of the country’s National Development Plan— also known as Egypt’s Vision 2030— and its Government Action Program 2023-2027. The goal is to support the country’s efforts to build a competitive… Read More

The Board of Directors of the African Development Fund, the concessional window of the African Development Bank Group, has approved a $14.4 million loan to enhance food security in Zambia, a key supplier to countries in the region. The financing is anchored in the African Development Bank Group’s African Emergency Food Production Facility. In Zambia, it will provide certified seeds… Read More

The U.S. Trade and Development Agency (USTDA) and African Development Bank’s Africa Investment Forum (AIF) co-hosted a forum of 40 women leaders who are delivering high-quality solutions for Africa’s infrastructure needs. The forum took place during last week’s U.S.-Africa Business Summit, in Marrakech, Morocco. During the forum, USTDA and AIF showcased how their existing partnership advances women-led sustainable infrastructure in… Read More

African Development Bank and International Monetary Fund (IMF) experts have stressed the urgency of mobilizing climate financing for Africa during a panel discussion on the African Development Bank’s 2022 African Economic Outlook hosted by the IMF in Washington, DC on Monday. Participants at the meeting heard that African countries need to mobilize $1.6 trillion between 2022 and 2030 to meet their… Read More

The Secretariat for the Common Market for Eastern and Southern Africa (COMESA) and the African Development Bank have launched phase one of the Africa Cloud Ecosystem Project, to be financed with a $550,000 grant from the NEPAD Infrastructure Project Preparation Facility Special Fund (NEPAD-IPPF) to support the market analysis and pre-investment study for the project. The signing ceremony for the… Read More

The Board of Directors of the African Development Fund has approved a $5.6 million grant in additional funding for Mozambique’s Post Cyclone Idai and Kenneth Emergency Recovery and Resilience Program. This additional funding is under the Bank’s African Emergency Food Production Facility aims to build the resilience of Mozambique’s food systems in response to the current global food crisis, worsened… Read More

The African Development Bank Group and the Secretariat of the African Continental Free Trade Area (AfCFTA) have signed a Protocol of Agreement for an $11.24 million support package to enhance the Secretariat’s effective implementation. The signing took place on 25 July 2022, on the margins of the ninth meeting of the AfCFTA Council of Ministers responsible for trade, held in… Read More