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

CORRECTION: Global Development Finance Coalition commits Over $5.5 billion for MSME Financing in Africa

Coalition exceeds its $4 billion target by 40% in an effort to help MSMEs face the Covid-19 pandemic

The coalition for a sustainable and inclusive recovery of the private sector (https://bit.ly/3uVECSE), an international group of 20 development finance institutions that came together in 2020, today announced commitments of over $5.55 billion of financing to micro, small and medium enterprises (MSMEs) in Africa between mid-2020 and end of 2021, beating…

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

Increase debt suspension arrangements to offer low-income and middle-income countries fiscal space – heads of state

Prime Minister Justin Trudeau of Canada, Prime Minister Andrew Holness of Jamaica and UN Secretary-General António Guterres convened the virtual meeting

Several heads of state and government, the United Nations and heads of multilateral development finance institutions on Monday called for expansion of the Debt Service Suspension Initiative, under which low-income countries have suspended paying down debt during the Covid-19 pandemic. The initiative should be widened beyond low-income countries and its…

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

Canada and African Development Bank sign CAD 133 million gender lens Climate Fund for Africa

The Bank has committed to providing $25 billion in climate financing by 2025

The Government of Canada and the African Development Bank have signed an agreement formalizing the Canada–African Development Bank Climate Fund (CACF), a transformative special fund aimed at providing concessional loans to climate change-related projects with a strong gender-responsive component. The fund will be capitalized through a combination of a CAD…

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

Conversation with Marieme Esther Dassanou, Coordinator of the African Development Bank’s Affirmative Finance Action for Women in Africa programme

She previously led IFC’s Gender Secretariat's work on advancing women's inclusion in the insurance and financial sectors

Marieme Esther Dassanou is the Coordinator of Affirmative Finance Action for Women in Africa (AFAWA) the African Development Bank’s (https://www.AfDB.org/) flagship pan-African initiative, which aims to bridge the $42 billion financing gap facing women entrepreneurs in Africa. She previously led IFC’s Gender Secretariat's work on advancing women's inclusion in the…

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

African Development Bank appoints Nourredine Lafhel Acting Chief Risk Officer

An experienced risk management professional, Nourredine has more than twenty (20) years of experience in finance and risk management

The African Development Bank Group (www.AfDB.org) is pleased to announce the appointment of Mr. Nourredine Lafhel as Acting Chief Risk Officer, effective 6th April 2020. Lafhel, a Canadian national, is currently the Sovereign Credit and Market Risk Division Manager (PGRF3), in the Directorate of the Group Risk Management Function of the African Development Bank Group. An…

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

“You have been in the trenches with us,” Ghana Vice President Mahamudu Bawumia tells African Development Bank

Ghana is looking to the Bank for investment in an integrated aluminium industry, using the country’s large bauxite deposit as raw materials

The African Development Bank’s (www.AfDB.org) support for the west African nation Ghana has boosted its government’s efforts to consolidate the economy, the country’s Vice President, Mahamudu Bawumia said on Monday. Bawumia, welcoming a team of Executive Directors and senior officials of the Bank on an official visit, cited various Bank-supported…

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

Canadian Prime Minister Justin Trudeau meets African leaders to advance conflict resolution and economic security

Trudeau called for cooperation among international partners and governments to create economic opportunity and prosperity that is broadly shared

Canada’s Prime Minister Justin Trudeau convened a meeting for African heads of state, foreign ministers and representatives of the United Nations and other multilateral bodies on Monday to discuss ways to secure peace across the continent as a necessary condition for prosperity.  Trudeau, the 2020 chair of the United Nations…

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

Africa Investment Forum 2019 - Promises made, promises kept: Champions share why investments benefit women

We are looking at the value chain of businesses and asking how do we support women across the value chain…from the factory floor all the way to the boardroom? - Tokunboh Ishmael

60% of Mara phones’ 400-450 employees are women: This is why our quality is better than anyone else’s – Ashsish Thakkar; We are looking at the value chain of businesses and asking how do we support women across the value chain…from the factory floor all the way to the boardroom?…

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

Africa Investment Forum 2019: Masai Ujiri urges African leaders to invest in sports, commissions two new “players”

We need to invest in sports; African talent is like gold and diamonds – Masai Ujiri

Masai Ujiri, President of the Toronto Raptors, made his second appearance at the Africa Investment Forum, renewing his call for African governments to invest in sports. Ujiri, the only President of National Basketball Association (NBA) of African origin in franchise history, has worked hard over the past year to scout…

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

2019 Africa Investment Forum Kicks Off Delivering on the Promise to Redefine and Unpack the Continent’s Investment Opportunities

The 2019 Africa Investment Forum opened on Monday living up to its promise to move from commitment to action

$500 million equity closed for the Africa Infrastructure Investment Fund to speed up investments in agriculture; Financial close for the Africa Guarantee Fund $175 Equity transaction to support Small and Medium Size Enterprises, and $350 million for South Africa’s beef agro-processing project. The 2019 Africa Investment Forum opened on Monday…