Source: African Development Bank Group (AfDB) |

Africa Industrialisation Day: African Development Bank calls for Faster Industrialisation of African Economies

The African Development Bank counts Industrializing Africa as one of its High-5 key strategic aims, critical for the transformation of African economies

At the forefront of promoting smart industrial policies and mobilising infrastructure development funding for Africa, the African Development Bank (https://www.AfDB.org/) on Africa Industrialization Day 2020, urges the continent to accelerate industrialization for the transformation of African economies. The African Development Bank counts Industrializing Africa as one of its High-5 key…

Source: African Development Bank Group (AfDB) |

African Development Bank’s investments are transforming the continent, unlocking economic potential, and spurring development - 2020 Annual Development Effectiveness Review (ADER) report

20.3 million people are benefiting from improvements in agriculture (47% women); 3,919 km of feeder roads rehabilitated or built

From agro-processing initiatives to energy, transportation and water and sanitation services, transformative investments by the African Development Bank (https://www.AfDB.org/) are paving the way to unlock Africa’s economic potential, according to the 2020 Annual Development Effectiveness Review (ADER) (https://bit.ly/3pLL75t), released on Friday. The report, which analysed the Bank’s contribution to Africa’s…

Source: African Development Bank Group (AfDB) |

African Development Bank’s AgriPitch competition awards $120,000 in prizes to African youth “agripreneurs”

The AgriPitch competition offered young entrepreneurs in Africa’s agricultural sector the opportunity to pitch their agribusiness proposals to a panel of experts and investors

The founder of a cassava processing business in Kenya, a co-founder of a novel food processing technology start-up, and the owner of a smallholder farmer food procurement company in Nigeria won the top cash prizes in the African Development Bank’s (https://www.AfDB.org/) $120,000 AgriPitch competition on Tuesday. The AgriPitch competition offered…

Source: African Development Bank Group (AfDB) |

Sudan: $28.233 million in African Development Fund Grants to bolster response to COVID-19

The grants are being provided under the African Development Bank’s COVID-19 Response Facility

The Board of the African Development Fund on Wednesday approved grants worth $28.233 million to Sudan to shore up the country’s health system to effectively respond and contain the COVID-19 pandemic, mitigate its social and economic impacts and build resilience to future pandemics, including climate-induced outbreaks.  The funding will take…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

COVID-19 is a ‘wake-up command’ to address Africa’s challenges - Tony Blair

The former UK prime minister addressed a virtual audience on the topic Building Back Better in Post COVID-19 Africa: The Role of Technology and Governance, as part of the Kofi A. Annan Lecture Series

We have the same problems but what we also have is vastly increased urgency – Blair; Agriculture offers Africa its best opportunity for industrialization…the key is how does Africa raise productivity, develop the integrated technology in rural areas? - Adesina The COVID-19 pandemic has exposed the challenges and opportunities of…

Source: African Development Bank Group (AfDB) |

Ghana, African Development Bank Group sign Memorandum of Understanding (MOU) for 2021 Annual Meetings

The 56th Annual Meetings of the African Development Bank and the 47th Annual Meeting of the African Development Fund are scheduled to take place from 24 to 28 May 2021

“We promise to champion African excellence and deliver a befitting event. We will leave no stone unturned to ensure that this is a seminal event.” – Kenneth Ofori-Atta I would like to assure you of the Bank’s full commitment and availability to accompany the Government of Ghana on this journey…

Source: African Development Bank Group (AfDB) |

Moody’s Investor Service affirms African Development Bank’s AAA credit rating

The ‘AAA’ rating from Moody’s follows earlier affirmations of the ‘AAA’ rating of the Bank, with stable outlook, by the other leading rating agencies

Moody’s Investor Service has affirmed the African Development Bank’s AAA credit rating, with a stable outlook. “The credit profile of African Development Bank (AfDB) (www.AfDB.org) is supported by the bank’s robust capital buffers and superior risk management, which mitigate risks,” Moody’s Investor Service said in an annual credit analysis dated…

Source: African Development Bank Group (AfDB) |

African Development Bank, partners, agree to strengthen commitment to gender equality

Bank Director for Women, Gender and Civil Society at Finance in Common summit online panel highlighted the Bank’s commitment to achieving gender equality

Under the theme "Development Banks as Actors for Change towards Gender Equality," the African Development Bank’s (https://www.AfDB.org/) Director for Gender, Women and Civil Society, Vanessa Moungar, joined high-level representatives from global financial institutions, the Green Climate Fund (GCF) and UN Women in signing a joint declaration on gender equality (https://bit.ly/35sX2wO)…

Source: African Development Bank Group (AfDB) |

Join hands for a strong global recovery from COVID-19, urges African Development Bank President

Adesina highlighted a number of disparities that the pandemic has laid bare in Africa

The global recovery from the COVID-19 pandemic will depend on the world coming together in a collective endeavour backed by science, finance and political resolve, African Development Bank (https://www.AfDB.org/) president Akinwumi Adesina, told the Victoria Forum 2020, a virtual event addressing the long-term socio-economic impacts of COVID-19. “How we come…

Source: African Development Bank Group (AfDB) |

Finance In Common summit rallies 450 development banks to ramp up, deepen collective efforts to address fragility beyond COVID-19

“Nothing can dampen our collective resolve to provide better opportunities for all” - African Development Bank President Akinwumi Adesina

The first global summit of public development banks on Thursday showcased a collective resolve to accelerate efforts to achieve the UN’s sustainable development goals (SDGs), including addressing fragility. The Finance In Common summit, which forms part of the 2020 Paris Peace Forum, has rallied together some 450 public development banks…