Source: African Development Bank Group (AfDB) |

Global Center on Adaptation and African Development Bank call for applications for the African Youth Adaptation Solutions Challenge

Young entrepreneurs between the ages of 18 and 35 are invited to respond to the call for the expression of interest and submit their business plan through the official submission portal

The Global Center on Adaptation (GCA) and the African Development Bank (AfDB.org) have launched a call for applications for the first edition of the African Youth Adaptation Solutions (YouthAdapt) Challenge. The call encourages young entrepreneurs, innovators from micro, small and medium-sized enterprises (MSMEs) and other youth-led and youth-owned enterprises in Africa,…

Source: African Development Bank Group (AfDB) |

Japan Credit Rating Agency reaffirms African Development Bank’s AAA rating with a stable outlook

The agency commended the African Development Bank for its strong member-country support, as evidenced by the seven general capital increases it has carried out to date

Japan Credit Rating Agency (JCR) has affirmed the African Development Bank’s (www.AfDB.org) long-term rating at AAA with a stable outlook. The agency commended the African Development Bank for its strong member-country support, as evidenced by the seven general capital increases it has carried out to date. The report reflected on…

Source: African Development Bank Group (AfDB) |

G20 Compact with Africa Reaffirms Commitment to Securing Africa’s Recovery from Covid-19 Pandemic through Private Sector Development and Vaccine Manufacturing

The Compact with Africa is a G20 initiative that promotes macroeconomic, business and financing reforms to attract more private investment in Africa

Participants of a G20 Compact with Africa meeting this week assessed Africa’s progress in fighting the Covid-19 pandemic. “We are meeting at a pivotal time in the relationship between Africa and the rest of the world,” said Italian prime minister Mario Draghi. The Compact with Africa is a G20 initiative…

Source: African Development Bank Group (AfDB) |

Ghana: African Development Bank Supports Efforts to Improve Domestic Resource Mobilization, Debt Management Capacity

The project complements current efforts to strengthen domestic resource mobilization in Ghana

The African Development Bank Group (www.AFDB.org/en) and the Ministry of Finance in Ghana have launched a $7.4 million Institutional Support Project to strengthen domestic revenue mobilization. The launch follows the signing of grant and loan agreements and the first disbursement of project funds. This will facilitate prudent debt management, deepen…

Source: African Development Bank Group (AfDB) |

African Development Bank COVID-19 Off-Grid Recovery Platform Reaches Financial Close for $20 Million SEFA Investment

The concessional loan agreements were signed with fund managers Lion’s Head Global Partners, Triple Jump, and Social Investment Managers and Advisors, following approval by the Board of Directors

The African Development Bank (www.AfDB.org/en) has reached financial close on financing agreements for a $20 million concessional investment from the Sustainable Energy Fund for Africa (SEFA) for the Covid-19 Off-Grid Recovery Platform (CRP). The 5-year, $50 million blended finance initiative is designed to provide relief and recovery capital to energy access…

African Development Bank Group (AfDB)
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    • African Development Bank Coding for Employment program marks milestone: 130,000 users across Africa
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Source: African Development Bank Group (AfDB) |

African Development Bank Coding for Employment program marks milestone: 130,000 users across Africa

The program’s online platforms offer in-demand technical courses such as web development, design, data science and digital marketing – for free

On International Youth Day, the African Development Bank (www.AfDB.org) announces the enrolment of 130,000 users in its Coding for Employment digital skills program. The milestone comes as Coding for Employment works to equip African youth with information and communication technology, entrepreneurship and soft-skills training to compete in a digital economy.…

Source: African Development Bank Group (AfDB) |

Fitch affirms Triple A-rating of the African Development Bank, Outlook stable

Fitch said the triple-A rating was driven by the ‘extraordinary support’ of the Bank’s shareholders

Global credit rating agency Fitch Ratings has affirmed the African Development Bank’s (www.AfDB.org) credit rating at ‘AAA’, with a stable outlook. Fitch said the triple-A rating was driven by the ‘extraordinary support’ of the Bank’s shareholders. Fitch views the Bank’s risk-management policies as ‘conservative’ and assesses them as ‘excellent’, in line with AAA-rated peers.…

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    • Close partnership between India and Africa could improve the welfare of 2.5 billion people post Covid-19, participants at 2021 Indo-Africa business conclave say
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Source: African Development Bank Group (AfDB) |

Close partnership between India and Africa could improve the welfare of 2.5 billion people post Covid-19, participants at 2021 Indo-Africa business conclave say

Participants said India and Africa should boost efforts to improve access to medicines, including vaccines and other essential drugs to tackle Covid-19 and future pandemics

The Covid-19 pandemic has provided the impetus for a stronger partnership between India and Africa with potential benefits to both as they build back sustainably after the crisis, experts attending the 16th CII-Exim Bank Digital Conclave on India-Africa Project Partnership (https://bit.ly/3rgmnDG) affirmed. Speaking at the virtual event’s opening, Subrahmanyam Jaishankar,…

Source: African Development Bank Group (AfDB) |

African Development Bank scoping study identifies opportunities for private sector participation in Africa’s climate agenda

The study was produced in partnership with the Fund for African Private Sector Assistance and launched during a virtual African Development Bank webinar held on 1 July 2021

A recently published African Development Bank (www.AfDB.org) scoping study on implementing NDCs in Africa recommends that development financial institutions and other investors focus on high-impact, high-growth potential start-ups that can drive climate-related innovation. The study, NDC implementation in Africa through green investments by private sector - A Scoping Study, was…

Source: African Development Bank Group (AfDB) |

Nigeria: African Development Bank bolsters women-empowered businesses with $50 million loan to FCMB bank

FCMB is a Nigerian commercial bank with around 5 million customers

The Board of Directors of the African Development Bank (www.AfDB.org) has approved a loan of $50 million to Nigeria’s First City Monument Bank (FCMB) to channel to local enterprises and women-empowered businesses in the agribusiness, manufacturing, healthcare and renewable energy sectors. Thirty percent of the funds, which are intended to…