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African Development Bank Group (AfDB)
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…

African Development Bank Group (AfDB)
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…

African Development Bank Group (AfDB)
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…

African Development Bank Group (AfDB)
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…

African Development Bank Group (AfDB)
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…

African Development Bank Group (AfDB)
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…

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

Remarks by Dr. Akinwumi A. Adesina, President, African Development Bank Group, at the Finance in Common Summit, November 12, 2020

The African Development Bank is fully committed to supporting Africa to meet the Sustainable Development Goals and the climate change agenda agreed at COP21 in Paris

I would like to thank President Emmanuel Macron and UN Secretary General Antonio Guterres for hosting us for the Paris Peace Forum. I’d also like to thank my dear friend Remy Rioux for the vision and leadership in putting together the Finance in Common Summit, with Public Development Banks. Peace…

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

Uganda: African Development Bank grants $500,000 for capacity development of Micro, Small and Medium Enterprises (MSMEs) within the petroleum sector

The project aims to support inclusive private sector growth and the creation of an estimated 500 jobs along the pipeline

The African Development Bank (www.AfDB.org) and the Government of Uganda have signed a $500,000 grant agreement for financing of Micro, Small and Medium Enterprises (MSMEs) to boost business linkages on the East African Crude Oil Pipeline Technical Assistance project. The project’s overall objective is to help develop capacity of local…

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

A whole of society approach: Women are key to building resilient communities beyond COVID-19 (By Vanessa Moungar and Yero Baldeh)

Women are the backbones of African economies and can be key drivers of transformation as we strive to build back better, more resilient societies

By Vanessa Moungar and Yero Baldeh* In Africa’s fragile contexts, the burden of conflict, poverty and climate change falls most heavily on already marginalized groups. If we do not significantly and collectively step up our efforts, the continent’s share of the world’s poor will rise to over 90% by 2030,…