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African Development Bank Group (AfDB)

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    • The African Development Bank will support the construction of skills development infrastructure in the agricultural sector, build the capacities of agricultural trainers and support the establishment of agricultural cadastres to enable the Democratic Republic of the Congo to develop value chains in its rich agricultural sector
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Source: African Development Bank Group (AfDB) |

Democratic Republic of Congo: African Development Bank to lend $117 million to support agricultural transformation

The financial support comes from the African Development Fund, the Bank Group's concessional lending window, and includes $78.6 million from the Transition Support Facility

Meeting in Abidjan on 14 February 2024, the Board of Directors of the African Development Bank Group (www.AfDB.org) approved a loan of $117.9 million to the Democratic Republic of Congo to implement the Project to Support Governance and Skills Development in support of the Agriculture Transformation Programme (PTA). The financial support…

African Development Bank Group (AfDB)

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    • The African Development Bank's trade finance guarantee facility granted to Access Bank DR Congo will support imports of essential goods and various inputs in such key sectors of the Congolese economy as health and agriculture
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Source: African Development Bank Group (AfDB) |

Democratic Republic of the Congo: African Development Bank grants $7 million trade finance guarantee facility to Access Bank DR Congo to support SMEs and local businesses

The African Development Bank will now be able to provide up to a 100% guarantee to confirming banks for the non-payment risk from the confirmation of letters of credit

On 20 February 2024, the Board of Directors of the African Development Bank Group (www.AfDB.org) approved a $7 million trade finance guarantee facility grant to Access Bank DR Congo. The African Development Bank will now be able to provide up to a 100% guarantee to confirming banks for the non-payment risk…

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

Democratic Republic of Congo: African Development Bank projects returns thousands of children from cobalt mines to schools

The project has helped to extricate many Congolese children from artisanal cobalt mines and to train thousands of their young parents to become farmers

Launched in the Democratic Republic of Congo in 2019, the Support Project for the Alternative Welfare of Children and Young People Involved in the Cobalt Supply Chain (https://apo-opa.co/3SvpVA4)(PABEA-Cobalt) is nearing the end, in December 2024, of its planned implementation. Funded to the tune of US$78 million by the African Development Fund…

African Development Bank Group (AfDB)

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    • From left: DRC first lady Denise Tshisekedi, DRC President Félix Tshisekedi, AfDB President Akinwumi Adesina and Grace Adesina attend the swearing in ceremony in Kinshasa for President Tshisekedi’s second term in office
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Source: African Development Bank Group (AfDB) |

African Development Bank (AfDB) Head Adesina backs infrastructure projects in strategic two-day visit to Democratic Republic of Congo (DRC)

The Bank’s active portfolio in DRC as of 30 September 2023 comprised 27 operations with an approximate value of $1.458 billion

African Development Bank (https://www.AfDB.org) President Dr. Akinwumi Adesina has concluded a two-day visit to the Democratic Republic of Congo for high-level talks on accelerating strategic development projects in the country.   The visit, which began on Friday January 19th, saw his participation in a breakfast meeting with several key cabinet…

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    • African Development Bank joins global partners to raise financing for $1.6 bn multinational Lobito Transportation Corridor programme
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Source: African Development Bank Group (AfDB) |

African Development Bank joins global partners to raise financing for $1.6 bn multinational Lobito Transportation Corridor programme

The MoU, signed Thursday 27 October, outlines the partners' intentions to collaborate across multiple sectors to realise the full economic potential of the corridor

The African Development Bank (www.AfDB.org) has signed a Memorandum of Understanding (MoU), joining global partners to mobilise resources for the Lobito Corridor and the Zambia-Lobito rail line in southern and central Africa. Other signatories included the United States government, the European Commission, the Africa Finance Corporation (AFC), and the host…

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    • African Development Bank Director-General for Central Africa Serge N'Guessan and his deputy Solomane Koné, the Bank's Manager for DR Congo, actively participated in the Forum with other Bank officials
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At the DRC Agribusiness Forum, Democratic Republic of Congo shares its ambition to feed Africa and announces $6.6 billion in investments in agriculture

The investment is evidence of the commitment of Congolese President Félix Antoine Tshisekedi to develop the country’s agricultural potential and ease the economy’s dependence on the extractive sector

The Democratic Republic of Congo aims to invest $6.6 billion over ten years in its Agriculture Transformation Programme (PTA) to fulfil its commitment to becoming Africa’s breadbasket. The announcement was made at the "DRC Agribusiness Forum", held on 4 and 5 October 2023 in Kinshasa. The investment is evidence of the…

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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…

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    • (Left to right) Managing Director, First City Monument Bank (FCMB), Yemisi Edun, and Director General, African Development Bank, Nigeria Country Department, Lamin Barrow, after they signed a USD 50 million Loan Agreement for a Line of Credit in favour of FCMB, in Lagos, on Monday (1)
    • (Left to right) Managing Director, First City Monument Bank (FCMB), Yemisi Edun, and Director General, African Development Bank, Nigeria Country Department, Lamin Barrow, after they signed a USD 50 million Loan Agreement for a Line of Credit in favour of FCMB, in Lagos, on Monday (2)
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Source: African Development Bank Group (AfDB) |

African Development Bank launches scheme to improve livelihoods for youths in three African countries

The Creating Sustainable Youth MSMEs Through Urban Farming initiative will support young farmers in Nigeria, the Democratic Republic of the Congo (DRC) and Uganda

The African Development Bank (www.AfDB.org) has launched a multinational project to create jobs and improve livelihoods for youth in three African countries. The Creating Sustainable Youth MSMEs Through Urban Farming (SYMUF) initiative will support young farmers in Nigeria, the Democratic Republic of the Congo (DRC) and Uganda, who are attracted…

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

African Development Bank grant to improve governance of natural resource outflows in six African countries

The Transitional Support Facility has awarded a $2.8 million grant for the Governing Natural Resource Outflows for Enhanced Economic Resilience in Fragile and Transitional Countries (GONAT) project in the selected fragile and transitional countries

Six African countries will soon benefit from a grant from the Transitional Support Facility (TSF) of the African Development Fund, through a project designed to strengthen national capacity for governing natural resource outflows in Africa. The African Development Fund is the concessional lending arm of the African Development Bank Group.…

African Development Bank Group (AfDB)

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    • CORRECTION: African presidents and global leaders support bold action on climate change adaptation for Africa
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Source: African Development Bank Group (AfDB) |

CORRECTION: African presidents and global leaders support bold action on climate change adaptation for Africa

Africa now faces the dual onslaught of climate change – currently estimated at between $7 billion and $15 billion each year – and Covid-19, which has claimed 114,000 lives

In a historic and united show of solidarity for a continent that contributes only 5% to global emissions, more than 30 heads of state and global leaders committed to prioritize actions that help African countries adapt to the impacts of climate change and “build forward better.” Africa now faces the…