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African Development Bank Group (AfDB)

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    • The African Development Bank's financial support for Zambia aims to increase private sector participation in the economy, with a particular emphasis on agro-industrial development and climate-smart investments
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Source: African Development Bank Group (AfDB) |

Zambia: African Development Bank grants loan of $108 million to strengthen economic governance

The funds allow the implementation of the Fiscal Sustainability and Economic Resilience Support Programme which is a key pillar in efforts to build a resilient and diversified Zambian economy

The Board of Directors of the African Development Bank Group (www.AfDB.org) approved a loan of $108 million to Zambia for an initiative aimed at strengthening the country's economic governance and implement reforms in key public sectors. The funds allow the implementation of the Fiscal Sustainability and Economic Resilience Support Programme…

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

Chad: African Development Fund Provides €44 Million for Road Connecting Eastern and Southern Regions

As a landlocked country in Central Africa, Chad is a long distance from the sea, and the new road will help to reduce the very high transport costs along the major regional corridors

The Board of Directors of the African Development Bank Group (www.AfDB.org) approved grants worth €44.16 million to Chad  on 22 November 2024 to construct the roughly 50 km Kyabé-Mayo section of the road between Kyabé and Singako. a distance of 49.5 km, combined with the construction of a 55-metre bridge. The funding…

African Development Bank Group (AfDB)

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    • Africa must strengthen accountability and governance to prosper -- Botswana President Duma Boko (1)
    • Africa must strengthen accountability and governance to prosper -- Botswana President Duma Boko (2)
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Source: African Development Bank Group (AfDB) |

Africa must strengthen accountability and governance to prosper -- Botswana President Duma Boko

As African Economic Conference opens, leaders call for bold reforms and decisive action to accelerate Africa's dream of becoming a global powerhouse

Africa’s economic success and sustainability are intrinsically linked to accountable governance, Botswana’s President, Duma Boko, stressed at the opening of the 2024 African Economic Conference in Gaborone. “Peace and stability in Africa must be anchored on accountable and responsive governance,” the president said adding, “This is a fundamental human right…

African Development Bank Group (AfDB)

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    • Registration Opens for the 2024 African Economic Conference
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Registration Opens for the 2024 African Economic Conference

This year’s conference will provide a platform for African countries to address pressing economic challenges and strengthen their resilience to growing global pressures

Registration is now open for the 2024 African Economic Conference (AEC), a flagship event co-hosted by the African Development Bank (www.AfDB.org), the United Nations Economic Commission for Africa (ECA), and the United Nations Development Programme (UNDP). Taking place in Gaborone, Botswana, from 23 to 25 November, the conference will bring…

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

Speech Delivered by Dr. Akinwumi A. Adesina, President and Chairman, Boards of Directors, African Development Bank Group at the High-Level Event, 29th Conference of the Parties (COP 29) “Measuring the Green Wealth of Nations: Natural Capital and Economic Productivity in Africa”

When the value of Africa’s vast forest and environmental services, and natural capital, are properly valued, the size of its rebased GDP taking this into account will be much higher

Your Excellency, President Sassou Nguesso, President of the Republic of Congo Your Excellencies, Heads of State and Government Your Excellencies, Vice Presidents, Prime Ministers Your Excellencies, ladies and gentlemen. I wish to thank you all for taking the time to be here today for the Heads of State High-Level Dialogue…

African Development Bank Group (AfDB)

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    • African Development Bank Group and JICA sign landmark 51.67 billion Japanese yen (US$421 million) concessional donor loan to boost the African Development Fund. Japan, October 2024
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Source: African Development Bank Group (AfDB) |

Japan boosts African Development Fund with Japanese yen (JPY) 51.67 billion concessional loan

Additional resources to drive much-needed development in Africa's least-developed and fragile countries

The African Development Bank Group (www.AfDB.org) and the Japan International Cooperation Agency (JICA) have signed a landmark 51.67 billion Japanese yen (US$421 million) concessional donor loan (CDL) agreement towards the African Development Fund.   The loan, pledged by the Japanese government at the 16th general replenishment of the resources of the…

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

South Africa: African Development Bank and Absa unveil multi-billion rand financial package to expand sustainable capital markets, boost economic growth for women and youth

Absa is collaborating with the African Development Bank to enhance skills among both Absa staff and women business owners

The African Development Bank (www.AfDB.org) and Absa Group, one of Africa's leading financial services providers, today celebrated a landmark agreement to mark the execution of a transformative financial package aimed at increasing funding for underserved segments, across South Africa and the continent. The target audience includes women-owned businesses, youth entrepreneurs,…

African Development Bank Group (AfDB)

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    • Angolan President João Manuel Lourenço(right) shakes hands with AfDB head Dr. Akinwumi Adesina who paid an official visit on September 20, 2024
    • President Akinwumi Adesina on site at the Science and Technology Park (STP)
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Source: African Development Bank Group (AfDB) |

African Development Bank pledges more support for Angola’s rapidly reforming economy

African Development Bank will support Angola’s request for a two-year budget support operation of about $160 million for 2024, with a second tranche scheduled for 2025

In recent talks between Angola’s President João Manuel Lourenço and African Development Bank Group (www.AfDB.org) head Dr Akinwumi Adesina, the two leaders discussed a wide range of measures introduced by the Angolan government to rapidly transform the economy. The reforms include diversifying away from oil, promoting private sector, tackling the…

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    • The budget support granted to Madagascar will help create a better regulatory framework to promote investment and improve the business environment in sectors that create jobs
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Source: African Development Bank Group (AfDB) |

The African Development Bank Group grants over $67 million to Madagascar to relaunch its economy and improve governance in its energy sector

The loan from the African Development Fund, the Bank Group’s concessional financing window, includes funding from the Transition Support Facility

The Board of Directors of the African Development Bank Group (www.AfDB.org) approved a loan of $67.3 million to Madagascar on 20 September 2024 to implement the first phase of its economic growth-inducing Financial Management and Resilience Support Programme for 2024-2025. The loan from the African Development Fund, the Bank Group’s…

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    • African Development Bank president praises Saudi Arabia for billions of dollars of investment in Africa
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African Development Bank president praises Saudi Arabia for billions of dollars of investment in Africa

Projects the country has financed range from irrigation to produce food, dams for energy, hospitals for mothers and their babies, electricity to light up schools and enhance learning, airports and roads to link countries, counties and communities

Dr Akinwumi Adesina, the president of the African Development Bank Group (www.AfDB.org), has praised Saudi Arabia for its generous “support, dedication and friendliness” to Africa where it is supporting a host of projects touching virtually all aspects of people’s everyday life on the continent.  Adesina was speaking at the Saudi…