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

African Development Bank Debars China Henan International Cooperation Group Company Limited for 12 Months for a Fraudulent Practice

During the debarment period, China Henan International Cooperation Group Company Limited and specified affiliates will be ineligible to participate in Bank Group-financed activities

The African Development Bank Group (www.AfDB.org), on 28 March 2024, announces the conclusion of a negotiated settlement agreement with China Henan International Cooperation Group Company Limited, thus putting an end to sanctions proceedings for a fraudulent practice against China Henan International Cooperation Group Company Limited. Pursuant to the negotiated settlement…

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

Egypt issues Africa’s first Sustainable Panda Bond worth 3.5 billion RMB backed by African Development Bank and Asian Infrastructure Investment Bank

Egypt will use the bond proceeds for inclusive growth and green objectives under its Sovereign Sustainable Financing Framework

Egypt has successfully issued a 3-year Sustainability Panda Bond worth RMB 3.5 billion ($478.7 million). The North African nation is the first on the continent to do so, a move that underscores its commitment to access previously untapped sources of capital to drive economic growth. The African Development Bank and the…

African Development Bank Group (AfDB)

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    • The construction of a highway between Dakar and Saint Louis will open up Senegal’s northern regions, considered the country’s rice granary and an area with high mining potential.
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Source: African Development Bank Group (AfDB) |

Senegal: African Development Bank to Invest over €166 Million in Construction of Highway to Open Up the Country’s North

The financing comprises €119.69 million from the African Development Bank and €46.67 million from the Africa Growing Together Fund

The Board of Directors of the African Development Bank (http://www.AfDB.org), has approved a loan of €166.36 million to Senegal for construction of the Dakar-Tivaouane-Saint Louis highway, which will enhance access to the north of the country. The financing comprises €119.69 million from the African Development Bank and €46.67 million from…

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

Angola: African Development Bank funds $530 million electricity project to expand renewable energy and regional connectivity

The project, once operational in 2023, will avert the consumption of 46.8 billion litres of diesel per year in the south, cutting 80 megatons of CO2 emissions

The African Development Bank (www.AfDB.org) has committed $530 million to finance the construction of a 343 km, 400 kV central-south transmission line that will connect the north and south transmission grids in Angola and allow for the distribution of clean energy between the two regions. The north of Angola has…

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

Africa Offers Asian Business an Abundance of Investment Opportunities, Webinar Participants Learn

The two-hour virtual event, held in English, Korean, and Chinese, offered participants an opportunity to learn more about the Bank and its operations

The African Development Bank (https://www.AfDB.org/) today held a workshop to convey the continent’s immense investment and partnership opportunities to Asian business leaders, particularly as the continent seems poised to return to economic growth in 2021 following the impact of the COVID-19 pandemic. The two-hour virtual event, held in English, Korean,…

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

Global and African Leaders welcome Launch of Global Center on Adaptation (GCA) Africa as “Historic Moment to Accelerate Adaptation” on the Continent

GCA Africa will work with partners across the continent to scale and accelerate adaptation action that protects African communities from the impacts of climate change

The Global Center on Adaptation (GCA.org) today announced the launch of its regional office in Côte d’Ivoire. Hosted by the African Development Bank (www.AfDB.org) at its headquarters in the Ivorian capital Abidjan, GCA Africa will work with partners across the continent to scale and accelerate adaptation action that protects African…

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

After COVID-19, will Africa Catch Up, Stand Still or Fall Further Behind? (By Professor Banji Oyelaran-Oyeyinka)

With this crisis comes an economic disruption of unprecedented proportion

At one time or another, nations and individuals confront crisis points – moments of existential challenge that also open up new possibilities. African countries, at just such a crisis point as a result of the novel coronavirus, face three possible outcomes post-pandemic: play catch-up, stand still or fall even further…

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

North Africa Economic Outlook 2020: An unparalleled crisis and a conditional recovery

Socioeconomic stability, social inclusion and human capital development are prerequisites for resilience and emerging from the crisis

In 2020, the region will face an economic contraction forecast between 0.8 and 2.3%; Socioeconomic stability, social inclusion and human capital development are prerequisites for resilience and emerging from the crisis. The tourism and industrial sectors in North Africa are likely to be hardest hit by the COVID-19 pandemic, according…

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

Ghana Cocoa Board, African Development Bank and financial partners celebrate first $200 million disbursement of loan to boost cocoa productivity in Ghana

Ghana supplies 70% of all cocoa beans imported into Japan and cocoa is seen as one of the nation’s most essential import commodities

Ghana Cocoa Board (COCOBOD) and lenders have welcomed the first disbursement of $200 million of a syndicated loan facility to boost cocoa productivity in the world’s second-largest producer. The occasion was marked by a ceremony held in Accra, Ghana on Tuesday 23 June, followed online by hundreds of observers across…

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

African Development Bank approves $4 million grant to bolster South Sudan’s COVID-19 response

As of June 15, 2020, the country had reported 1,693 cases, 27 deaths and 49 recoveries

The Board of Directors of the African Development Bank (www.AfDB.org) on Wednesday approved a UA 3 million ($4.16 million) grant to South Sudan to support the emergency response to COVID-19 and strengthen the country’s fragile health system. The grant, from the Transitional Support Facility of the Bank Group’s African Development…