Source: African Development Bank Group (AfDB) |

Climate financing by leading multilateral development banks tops $61.6 billion

The Bank exceeded its target of achieving parity between adaptation and mitigation finance by allocating 55% of its climate finance resources to adaptation and 45% to mitigation

Climate financing by seven of the world’s largest multilateral development banks (MDBs) totalled $61.6 billion in 2019, of which $41.5 billion (67%) was in low- and middle-income economies, according to the 2019 Joint Report on Multilateral Development Banks’ Climate Finance (https://bit.ly/31noGIB). The study expands the scope of reporting for the…

Source: African Development Bank Group (AfDB) |

In Lesotho, An African Development Bank project enhances primary and secondary school education - report

The eight-year project focused on improving the quality of primary and secondary instruction and building skills to give young people access to better job opportunities

An education project in Lesotho, financed by the African Development Bank (www.AfDB.org) and implemented between 2008 and 2016, has provided the country with new primary and secondary school infrastructure and teacher training to enhance educational quality, according to a recently published report by Bank. The Support to Education Quality Enhancement…

Source: African Development Bank Group (AfDB) |

Road to Annual Meetings: South African villagers find fresh water in ancient mountain springs

After undertaking a cost analysis of equipment to supply water from springs to village, community members pooled funds to buy it, and set up their water scheme

The village of Tsakhuma in the Vhembe district of South Africa’s Limpopo region is proof positive that communities can find solutions to their problems. Like many rural areas in South Africa, Tsakhuma lacked access to water for bathing, cooking, washing and chores, and the burden of fetching water fell on…

Source: African Development Bank Group (AfDB) |

Burkina Faso : la filière du karité majoritairement féminine réalise plus de 60 millions de dollars d’exportations

Les revenus des exportations de la filière sont ainsi passés de 52,7 millions de dollars américains en 2016 à 61,8 millions de dollars en 2019

Le Projet d’appui au développement intégré de la filière karité pour l’autonomisation économique des femmes (PADIFK), mis en œuvre entre 2016 et 2019 au Burkina Faso, a stimulé les exportations des produits du karité, selon un rapport de la Banque africaine de développement (www.AfDB.org) publié le 16 juillet. Le PADIFK,…

Source: African Development Bank Group (AfDB) |

After COVID-19, will Africa Catch Up, Stand Still or Fall Further Behind? (By Professor Banji Oyelaran-Oyeyinka)

With this crisis comes an economic disruption of unprecedented proportion

At one time or another, nations and individuals confront crisis points – moments of existential challenge that also open up new possibilities. African countries, at just such a crisis point as a result of the novel coronavirus, face three possible outcomes post-pandemic: play catch-up, stand still or fall even further…

Source: African Development Bank Group (AfDB) |

Uganda: African Development Fund approves $31.6 million loan for COVID-19 response

The objective of the operation is to support Uganda’s efforts to contain the human cost of COVID-19, mitigate its social and economic impact, and support economic recovery

The Board of Directors of the African Development Fund today approved a $31.6 million COVID-19 Crisis Response Support Program (CRSP) to Uganda to support the government’s response to the COVID-19 pandemic. The funds are designed as budget support within the framework of the Bank Group’s COVID-19 Crisis Response Facility. The…

Source: African Development Bank Group (AfDB) |

African Development Bank approves $53 million multi-country grant for COVID-19 response in Gambia, Liberia and Sierra Leone

The grant from the African Development Fund (ADF) aims to mitigate the impact of COVID-19 in The Gambia, Liberia and Sierra Leone

The African Development Bank’s (www.AfDB.org) Board of Directors on Friday approved a UA 38.15 million ($53.25 million) multi-country grant to The Gambia, Liberia and Sierra Leone in the form of direct budget support to bolster efforts to fight the COVID-19 pandemic in the three West African countries. The grant from…

Source: African Development Bank Group (AfDB) |

African Development Bank Group supports Ghana’s COVID-19 response plan with $69 million grant

The funds will help to upgrade the capacity of healthcare facilities to isolate, diagnose and care for patients, and provide more test kits, pharmaceuticals, equipment and beds

The Board of Directors of the African Development Fund (ADF) on Friday approved a $69 million grant to support Ghana’s efforts to tackle the COVID-19 pandemic and mitigate its socio-economic impact on the nation. The grant from the ADF, the concessional arm of the African Development Bank (www.AfDB.org), will provide…

Source: African Development Bank Group (AfDB) |

Rwanda: African Development Bank commits $98 million for multisector COVID-19 response

The funding will take the form of an African Development Fund loan, which the Bank is providing the under its COVID-19 Response Facility

The African Development Bank (www.AfDB.org) on Thursday approved a concessional loan of $97.675 million to Rwanda to strengthen its national budget as it works to mitigate impacts of the COVID-19 pandemic. The funding will take the form of an African Development Fund loan, which the Bank is providing the under…

Source: African Development Bank Group (AfDB) |

Somalia: African Development Bank grants of $25 million will bolster budget for COVID-19 responses

The funding comes under the umbrella of the Bank’s COVID-19 Response Facility

The African Development Bank (www.AfDB.org) on Friday approved grants worth $25.1 million to Somalia to bolster the national budget for government efforts to mitigate national and regional impacts of the COVID-19 pandemic. The funding, comprised a $10.04 million grant from Pillar 1 of the Bank’s Transition Support Facility and a $15.06 million…