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

Egypt: African Development Bank approves $22 million to expand leasing financing to corporates and SMEs

The decision signaled confidence in a burgeoning local market and in the Egyptian economy as a whole

The Board of the African Development Bank (www.AfDB.org) on Wednesday approved a $22 million Senior Loan to help Egypt’s Corporate Leasing Company (Corplease) expand its operations in the North African country. The decision signaled confidence in a burgeoning local market and in the Egyptian economy as a whole. The Bank…

African Development Bank Group (AfDB)

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Source: African Development Bank Group (AfDB) |

Africa’s infrastructure financing reaches an all-time high in 2018, surpassing $100 billion - Infrastructure Consortium for Africa (ICA)

This years’ report shows the role ICA continues to play in institutional and policy reform as well as its consistent financial contribution within the infrastructure space

The Infrastructure Consortium for Africa (ICA) on Tuesday announced a 24% leap in infrastructure financing in Africa in 2018, surpassing $100 billion for the first time, but significant financing gaps remain. Launched on 12 November at the Africa Investment Forum (https://AfricaInvestmentForum.com/), the ICA’s Infrastructure Financing Trends in Africa 2018 report shows…

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

African Development Bank President Akinwumi Adesina’s take on the landmark signing

African Development Bank, Credit Suisse, Industrial and Commercial Bank of China and Ghana Cocoa Board ink $600 million loan agreement to boost cocoa product

This is a phenomenal event, the result of hard work of everybody to make this happen. I want to thank the leadership of President Nana Akufo-Addo for making sure that his country and Africa can get to the top of the value chain in processing cocoa into a wide range…

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

African Development Bank, Credit Suisse, Industrial and Commercial Bank of China and Ghana Cocoa Board Ink $600 Million Loan Agreement to Boost Cocoa Production

The multi-million dollar agreement is a milestone for the Bank-convened Africa Investment Forum

Agreement is a turning point for scaling up the cocoa value chain – President Nana Addo Dankwa Akufo-Addo of Ghana; Ghana is bankable, cocoa is bankable and of course Africa is bankable - Dr. Akinwumi A. Adesina, President, African Development Bank (https://www.AfDB.org). The African Development Bank, Credit Suisse AG, the Industrial and…

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

Africa can be world’s next economic hub if supported with right policies – Singapore’s Senior Minister tells lecture audience

Africa must spread its economic openness by strongly showcasing specialisation along the production value chain and invest more boldly in social foundations

With the right policies and linkages, Africa can become an indispensable global economic hub, Singapore’s Senior Minister Tharman Shanmugaratnam noted Tuesday, commending the continent’s diverse economic potential. Delivering this year’s Kofi A. Annan Eminent Speakers’ Lecture series at the African Development Bank headquarters in Abidjan, Shanmugaratnam outlined five strategies which…

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

African Development Bank and Three Regional Development Banks Launch Joint Report on Livable Cities

The report, Creating Livable Cities: Regional Perspectives, looks at urbanization trends across emerging and developing economies in Africa; Asia and the Pacific

Rapid urbanization has provided most cities in the world with opportunities to provide more sustainable, vibrant, and prosperous centers for their citizens. But they must first address challenges such as inadequate infrastructure investments, pollution and congestion, and poor urban planning, according to a new report released today.  The report, Creating…

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

Kenya: African Development Bank Group approves loans of €209m for expansion of ‘Great North Road’

The five-year project will convert the 84km Kenol–Sagana–Marua Road in central and eastern Kenya from a two-way single carriageway into a dual bypass

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved loans of around €209 million to fund the expansion of a highway that links major economic hubs in Kenya. The approval was granted on 26 September during a meeting at the Bank’s headquarters in Abidjan. The total…

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

Donors pledge $17 million to Africa Solidarity Trust Fund at African Development Bank Annual Meetings side event

The donor conference was attended by the presidents of Mauritania, Guinea Bissau, the prime minister of Eswatini and several high-ranking diplomats, ministers and development and banking institutions

African and non-regional donors on Tuesday pledged $17 million to replenish the Africa Solidarity Trust Fund, an initiative which aims to provide food security and eliminate rural poverty on the continent. The pledges were made at a high-level donor round table convened by the United Nations Food and Agriculture Organisation…

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

African Development Bank Hails Canada’s US$1.1 billion pledge in callable capital support

The announcement comes a day after a meeting of the Bank’s governors in Washington D.C. to continue discussions on a 7th General Capital Increase

On the sidelines of the World Bank-IMF Spring meetings, Canada announced a $1.1 billion commitment in temporary callable capital to support the African Development Bank. Canada’s announcement, to be approved by the Bank’s governors, was made by Maryam Monsef, the Canadian Minister of International Development and for Women and Gender Equality.…

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

Europe’s Future Lies in the South and not the North, says Italian Finance Minister at Africa Conference

Africa is currently home to five of the world’s fastest growing economies, and only 4 African countries out of 54 will record negative growth in 2018, compared to 8 in previous years

“Africa is a continent of great change and opportunities. However, Europe finds it difficult to understand that its future lies in the South and not in the North,” said Giovanni Tria, Italian Minister of Finance and Economy. He was a speaking in Rome at a conference on Africa, challenges and…