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African Development Bank Group (AfDB)

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    • African Development Bank Group president Akinwumi Adesina (left) and International Fund for Agricultural Development (IFAD) President Alvaro Lario
    • African Development Bank Group president Akinwumi Adesina (left) and Food and Agriculture Organization (FAO) Director General Qu Dongyu
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Source: African Development Bank Group (AfDB) |

Achieving Zero Hunger in Africa is within reach, say global Agriculture leaders in Rome ahead of 2023 African Food Summit in Dakar

The goal of the Dakar 2 conference is to mobilize political support for the structural transformation of agriculture in Africa

Eradicating hunger in Africa by 2030 is possible, said global agriculture leaders in Rome. Meeting ahead of the African Food Summit (Dakar 2) to be hosted by President Macky Sall in Dakar, Senegal, from 25-27 January 2023, President of the African Development Bank Group (https://www.AfDB.org/en) Dr. Akinwumi Adesina, the International Fund for…

African Development Bank Group (AfDB)

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    • The African Development Bank's Sustainable Energy Fund for Africa (SEFA) is supporting the Tulu Moye geothermal project in Ethiopia for ten million US dollars
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Source: African Development Bank Group (AfDB) |

Ethiopia: Sustainable Energy Fund Africa provides $10 million grant to support Tulu Moye Geothermal Resource Development

The SEFA grant complements existing facilities to mitigate the high risk associated with drilling activities and help attract commercial debt capital to finance the project

The Board of Directors of the African Development Bank Group (http://www.AfDB.org/) has approved a $10 million reimbursable grant from the Sustainable Energy Fund for Africa (SEFA) (http://www.AfDB.org/SEFA) to support a geothermal drilling program that will add 50 megawatts of renewable energy to Ethiopia’s power system. The Tulu Moye Geothermal Operations PLC…

African Development Bank Group (AfDB)

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    • Representatives of the African Securities Exchanges Association, the African Development Bank and other partners at the launch of the African Exchanges Linkage Project Link Trading Platform in Abidjan.
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Source: African Development Bank Group (AfDB) |

African Development Bank, African Securities Exchange Association Launch African Exchanges Linkage Project (AELP) E-Platform Linking Seven African Capital Markets With $1.5 Trillion Market Capitalization

The AELP Link Trading Platform incorporates stock market integration, an order routing system, and market and order-book data sharing

The African Exchanges Linkage Project (AELP) has launched an e-platform (The AELP Trading Link), enabling seamless cross-border securities trading among seven African stock exchanges representing 2,000 companies with roughly $1.5 trillion market capitalization. The AELP Link Trading Platform incorporates stock market integration, an order routing system, and market and order-book…

African Development Bank Group (AfDB)

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    • The African Development Bank is supporting financial sector reforms in DR Congo that will provide access to financial services for vulnerable populations in rural areas
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Source: African Development Bank Group (AfDB) |

Democratic Republic of Congo: African Development Fund provides grant of $12 million to develop the financial market and drive financial inclusion

The funding will support financial sector reforms in the country and improve financial inclusion for rural and vulnerable populations

The Board of Directors of the African Development Fund, the concessional lending arm of the African Development Bank Group (www.AfDB.org), has approved a $12 million grant to the Democratic Republic of Congo (DRC) to implement the Financial Sector Development and Inclusion Support Project in the country. The funding will support…

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

Botswana: African Development Bank Group commits $180 million to bolster post-Covid-19 economic recovery

The program will directly benefit several government ministries, departments and agencies

The Board of Directors of the African Development Bank (www.AfDB.org) has approved a loan of $179.66 million to support government reforms to restore post-pandemic fiscal stability and economic recovery. The funds for phase II of the program will build on the successes of the first phase by supporting policy measures designed to…

African Development Bank Group (AfDB)

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    • Government representatives and experts from the Bank and the Mano River Union, joined by women traders to launch the BI-BEST project
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Source: African Development Bank Group (AfDB) |

Mano River Union launches scheme to build inclusive business ecosystems (By Charleine MBUYI LUSAMBA & Hoda Tarek)

Sierra Leone’s Minister of Gender and Children's Affairs, Manty Tarawalli, commended the African Development Bank for what she said was a “well-thought” initiative to support women’s economic empowerment

By Charleine MBUYI LUSAMBA, Task Manager & Hoda Tarek, Gender and Development Expert On 21 October 2022, the African Development Bank and the Mano River Union Secretariat hosted an event to launch the Project to Build Inclusive Business Ecosystems for Stabilization and Transformation in the Mano River Union (BI-BEST) in Freetown,…

African Development Bank Group (AfDB)

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    • Participants at the workshop co-organized by the African Development Bank and the Global Center on Adaptation to build capacity to access climate adaptation finance.
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Source: African Development Bank Group (AfDB) |

African Development Bank and Global Center on Adaptation Work with Partners to Enhance Capacity to Access Climate Adaptation Funding

The rigorous requirement by Green Climate Fund for climate rationale based on 30 years of point-source climate data has led to a high attrition rate for funding proposals with an adaptation focus

The African Development Bank (www.AfDB.org) and Global Center on Adaptation today launched a new initiative under the Technical Assistant Programme of the Africa Adaptation Acceleration Program (https://bit.ly/3FwHk5R) to help African countries access more climate adaptation funding. A climate rationale is the scientific basis of a project and describes the climate change…

African Development Bank Group (AfDB)

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    • ADF deputies applaud the announcement of ADF-16 replenishment package.
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Source: African Development Bank Group (AfDB) |

African Development Fund mobilizes $8.9 billion for Africa’s low-income countries, the highest in its 50-year history

The $8.9 billion replenishment package includes $8.5 billion in core ADF funding and $429 million for the newly created Climate Action Window

After a year of intense negotiations and a difficult global economic outlook, development partners of the African Development Fund (ADF) have agreed to commit a total package of $8.9 billion to its 2023 to 2025 financing cycle. It is the largest replenishment in the history of the Fund. ADF is…

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    • Africa Climate Change Fund launches Women and Youth Entrepreneurship Project
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Source: African Development Bank Group (AfDB) |

Africa Climate Change Fund launches Women and Youth Entrepreneurship Project

The virtual launch followed the approval of a $1 million grant funding by the ACCF’s development partners for the project

The Africa Climate Change Fund (ACCF) Secretariat has launched a scheme to support mechanisms for climate adaptation finance for women entrepreneurs and youth. The scheme, “YouthADAPT: Empowering Women and Youth for Entrepreneurship and Job Creation in Climate Adaptation and Resilience,” will develop innovative, transformative climate-resilient bankable projects aligned with African…

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

Crucial replenishment meeting for the African Development Fund as it marks 50 years of supporting the continent’s low-income countries

The meeting comes amid a tough global climate which has slowed down Africa’s economic growth prospects

Members of the African Development Fund are meeting in Morocco for the fourth and final pledging session on the Fund’s sixteenth replenishment. The crucial meeting will culminate in a financing package for the Fund’s next cycle covering 2023-2025. The meeting will be attended by representatives from the Fund’s donor countries…