Source: African Development Bank Group (AfDB) |

African Development Bank showcases impact of Korean drone technology on agricultural productivity

Drone technology is being used to collect and analyse data, and monitor irrigated areas, combat pests

At a special event highlighting the partnership between the African Development Bank (www.AfDB.org) and Korea held on the sidelines of the Bank’s Annual Meetings, the role of drone technology to boost food productivity in Africa, was on full display. A pilot project, underway in Tunisia, is designed to reduce food…

Source: African Development Bank Group (AfDB) |

Donors pledge $17 million to Africa Solidarity Trust Fund at African Development Bank Annual Meetings side event

The donor conference was attended by the presidents of Mauritania, Guinea Bissau, the prime minister of Eswatini and several high-ranking diplomats, ministers and development and banking institutions

African and non-regional donors on Tuesday pledged $17 million to replenish the Africa Solidarity Trust Fund, an initiative which aims to provide food security and eliminate rural poverty on the continent. The pledges were made at a high-level donor round table convened by the United Nations Food and Agriculture Organisation…

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

Nigeria: Investors say African Development Bank’s Special Agro-Industrial Processing Zones will drive agricultural revolution

SAPZs are designed to concentrate agro-processing activities within areas of high agricultural potential in order to increase productivity and competitiveness

Senior Nigerian government officials and key investors have endorsed the African Development Bank’s (www.AfDB.org) Special Agro-Industrial Processing Zones (SAPZ) initiative, describing it as a pathway to Africa’s agricultural revolution. SAPZs are designed to concentrate agro-processing activities within areas of high agricultural potential in order to increase productivity and competitiveness. The…

Source: African Development Bank Group (AfDB) |

Nigeria: African Development Bank approves US$70 million loan for Ebonyi State road

The Bank will provide US$40 million, while its co-financier, the Africa Growing Together Fund (AGTF), will contribute US$30 million

The African Development Bank Group (www.AfDB.org), on Wednesday 24 April 2019 approved a US$70 million loan for a road project in Nigeria’s southeastern Ebonyi State. The Bank will provide US$40 million, while its co-financier, the Africa Growing Together Fund (AGTF), will contribute US$30 million. The Islamic Development Bank is also…

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

Country Results Brief 2007-2018: The African Development Bank: a decade of key partnership with Guinea

Access to energy and development of agricultural and industrial value chains represent the two pillars of the Bank’s new strategy in Guinea

The African Development Bank (www.AfDB.org) on Wednesday released its most recent Country Report Brief for Guinea (http://bit.ly/2Wa3LVk). The report highlights the West African nation’s progress over the past 10 years, aided by the Bank, particularly in the areas of economic and financial governance, agriculture, road and energy infrastructure, living conditions.…

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

Nigeria: President Buhari commends African Development Bank’s transformative role

At the end of March 2019, the Bank’s active portfolio in Nigeria comprises 60 operations with total commitments of US$4.5 billion

At a meeting with the African Development Bank (www.AfDB.org) President in Abuja, Nigeria’s President Muhammadu Buhari commended the Bank for its successes and pledged Nigeria’s continuous support for the institution. “I want to recognize the support that the African Development Bank has given Nigeria in recent times. I remember the…

Source: African Development Bank Group (AfDB) |

Agriculture Fast Track Fund to launch 17 new projects in support of agribusiness Small and Medium Enterprises (SMEs) in Ghana and seven other African countries

The Agriculture Fast Track Fund (AFT) is managed by the Agriculture and Agro-Industry Department of the African Development Bank

Who: The African Development Bank What: Launch of 17 new grant projects funded by the Agriculture Fast Track Fund (AFT) (https://bit.ly/2P94vrr) Date: Wednesday, 17 April 2019, from 9:00 – 11:00am Venue: African Development Bank, Ghana Country Office, Ridge, Accra. The African Development Bank (www.AfDB.org) will launch 17 new grant projects…

Source: African Development Bank Group (AfDB) |

African Development Bank Business Opportunity Seminar - Investing in partnerships for Africa’s transformation

Ethical business model key to successful project delivery by the African Development Bank - participants

The African Development Bank (www.AfDB.org) held a Business Opportunity Seminar (BOS) focused on strengthening and fostering the engagement of the business sector and of other stakeholders to effectively support investment in infrastructure and human development projects. Seeking strategic alliances and potential business opportunities with the Bank, the participants, private-sector representatives, civil…

Source: African Development Bank Group (AfDB) |

Nigeria: African Development Bank approves $15 million investment package for Infrastructure Credit Guarantee Company

This intervention will promote local currency infrastructure financing, and further development of the domestic capital market

The Board of the African Development Bank (www.AfDB.org) has approved a $15-million investment package to Infrastructure Credit Guarantee Company (InfraCredit), to support infrastructure financing through the domestic debt capital markets in Nigeria. The investment package to InfraCredit is comprised of a subordinated loan of $10 million and a risk sharing…

Source: African Development Bank Group (AfDB) |

African Development Bank Board approves $4.8 million grant to accelerate African free trade

The grant will also assist efforts towards full ratification of the agreement by all AU member states

On 1 April 2019, the Board of the African Development Bank (www.AfDB.org) approved an institutional support grant of $4.8 million to the African Union (AU) to accelerate the momentum of the African Continental Free Trade Area Agreement (AfCFTA), which received its 22nd ratification on 2 April, bringing the agreement into…