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African Development Bank Group (AfDB)

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    • The Director General of the Nigeria Country Department, Lamin Barrow (centre left) and the President of the ECOWAS Commission, Omar Alieu Touray (centre right) led the African Development Bank and ECOWAS Commission delegations. Image source: African Development Bank Group
    • The African Development Bank and the ECOWAS Commission conducted consultations to evaluate the Regional Integration Strategy in Abuja from 5 to 15 September 2023. Image source: African Development Bank Group
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Source: African Development Bank Group (AfDB) |

African Development Bank and Economic Community of West African States (ECOWAS) assess regional integration strategy

The Bank Group approved the West Africa RISP 2020-2025 in May 2020 to support regional integration efforts in West Africa

The Economic Community of West African States (ECOWAS) and the African Development Bank Group (www.AfDB.org) have concluded consultations for the mid-term assessment of the West Africa Regional Integration Strategy Paper (RISP) 2020-2025 (https://apo-opa.info/48mtfVb). The Bank Group approved the West Africa RISP 2020-2025 in May 2020 to support regional integration efforts…

African Development Bank Group (AfDB)

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    • Visit to African Development Bank by Swedfund delegation signals push for closer partnership
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Source: African Development Bank Group (AfDB) |

Visit to African Development Bank by Swedfund delegation signals push for closer partnership

Hakaanson said she hoped the visit would strengthen Swedfund’s partnership with the African Development Bank

During a visit to the African Development Bank (www.AfDB.org), Swedfund CEO Maria Hakaanson has expressed keen interest in strengthening the cooperation and exploring opportunities for the Swedish state development finance institution’s strategic portfolio. Hakaanson visited the Bank’s headquarters in Abidjan on 14 September at the head of a delegation that…

African Development Bank Group (AfDB)

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    • Argentinean Ambassadors Claudio Rozencwaig (7th from right) and Alejandro Herrero (2nd from right) with Afdb Vice presidents Simon Mizrahi (6th from right) and Solomon Quaynor (center) and a Bank team in Abidjan
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Source: African Development Bank Group (AfDB) |

Argentinean Foreign Policy Under-Secretary’s visit to African Development Bank underscores partnership opportunities in agriculture and pharma

The Under-Secretary who visited the Bank’s Abidjan headquarters on 12 September, held meetings with the Bank’s Executive Director for Argentina, Austria, Brazil, Japan and Saudi Arabia, Takaaki Nomoto, as well as senior Bank executives

On a visit to the African Development Bank (http://www.AfDB.org), Argentina’s Under-Secretary for Foreign Policy Claudio Rozencwaig has expressed keen interest in deepening the existing partnership and exploring opportunities that benefit Argentinean and African businesses, notably in agriculture and pharmaceuticals. The Under-Secretary who visited the Bank’s Abidjan headquarters on 12 September,…

African Development Bank Group (AfDB)

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    • 7th Korea-Africa Economic Cooperation (KOAFEC) business forum
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Source: African Development Bank Group (AfDB) |

Adesina to Korean investors: Africa is the leading market frontier with huge untapped potential

Africa is not as risky as you hear - It is a continent of opportunities, waiting to be tapped

African Development Bank (www.AfDB.org) President Akinwumi Adesina has called on Korean investors to seize untapped investment opportunities in Africa, especially in the energy and agriculture sectors. “Africa is a continent that cannot be ignored by investors,” Adesina said at a business forum attended by CEOs of Korean corporations, heads of…

African Development Bank Group (AfDB)

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    • African Development Bank, Korea sign agreements for additional funding at 2023 KOAFEC
    • African Development Bank Group, Korea sign $28.6 million in grant agreements to support Africa’s development (1)
    • African Development Bank Group, Korea sign $28.6 million in grant agreements to support Africa’s development (2)
    • African Development Bank Group, Korea sign $28.6 million in grant agreements to support Africa’s development (3)
    • African Development Bank Group, Korea sign $28.6 million in grant agreements to support Africa’s development (4)
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Source: African Development Bank Group (AfDB) |

African Development Bank Group, Korea sign $28.6 million in grant agreements to support Africa’s development

The funding complements $600 million in co-financing under the Korea-Africa Energy Investment Framework, agreed with the Korean government in 2021

The African Development Bank (www.AfDB.org) and the Government of Korea on Wednesday signed two agreements for financial support to boost Africa’s development agenda. The value of the financing is $28.6 million. The funding complements $600 million in co-financing under the Korea-Africa Energy Investment Framework, agreed with the Korean government in…

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

Mauritius: African Development Bank affirms commitment to continent’s tourism sector at United Nations Tourism conference

The conference brought together African tourism ministers and key tourism stakeholders from the sector to discuss the development of tourism in Africa

The African Development Bank (www.AfDB.org) has reiterated its support to Africa’s tourism sector, seen as one of the continent’s fastest growing areas. Speaking at the 66th Tourism Conference organized by United Nations World Tourism Organization (UNWTO) in Mauritius in July 2023, Leila Mokaddem, Director General for the Southern Africa Regional…

African Development Bank Group (AfDB)

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    • (L-R) Dr. Mahmoud Mohieldin, UN Climate Change High-Level Champion for Egypt shakes hands with AfDB Vice President Kariuki, cementing a new partnership between the Glasgow Financial Alliance for Net Zero (GFANZ) and the African Development Bank. Centre - AfDB Vice President Solomon Quaynor looks on.
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Source: African Development Bank Group (AfDB) |

Glasgow Financial Alliance for Net Zero (GFANZ) Africa Network, African Development Bank Announce Climate Action Partnership

GFANZ and the African Development Bank will collaborate through the GFANZ Africa Network and the African Financial Alliance on Climate Change (AFAC), to support the African financial sector to accelerate climate finance for low carbon investments in the region

New partnership seeks to engage African financial institutions on climate transition planning and finance; Dr. Timothy Afful-Koomson, Chief Climate Finance Officer of the AfDB Group (www.AfDB.org), appointed Director of the GFANZ Africa Network. The Glasgow Financial Alliance for Net Zero (GFANZ), the world’s largest coalition of financial institutions committed to the…

African Development Bank Group (AfDB)

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    • Over 1.6 million people on low incomes have been able to access electricity thanks to a project supported by the African Development Bank
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Source: African Development Bank Group (AfDB) |

In Kenya, 1.6 million people on low incomes now have access to electricity thanks to a project supported by the African Development Bank

The project has improved living conditions and helped develop socio-economic activities in the beneficiary communities

The second phase of the Last Mile Connectivity Project (https://apo-opa.info/44ggSH3), implemented in Kenya between 2016 and 2022, has helped improved access to electricity for low-income groups. At least 1.6 million people now have access to power, according to the Project Completion Report published by the African Development Bank (www.AfDB.org) on…

African Development Bank Group (AfDB)

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    • Central African Economic Outlook 2023 (1)
    • Central African Economic Outlook 2023 (1) (FR)
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Source: African Development Bank Group (AfDB) |

Central African Economic Outlook 2023: Central Africa achieved the best economic performance in terms of growth, inflation and budget deficit compared with other African regions in 2022

At the intraregional level, the region’s performance was driven by the Democratic Republic of Congo, which grew by 8.5 percent

Central Africa achieved real GDP growth of 5.0 percent in 2022, compared with 3.4 percent in 2021. The rebound in economic activity was driven by favourable prices for raw materials, in a region that is home to net exporters of crude oil, minerals and other commodities. The region’s growth rate…

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

2023 West Africa Economic Outlook: region’s economic growth falls but medium-term forecast suggests return to level above 4%

The 2023 West Africa Economic Outlook report notes that adapting to climate change and the depletion of the region’s natural resources present an opening for businesses

West Africa experienced slower economic growth over the past year except for Cabo Verde, The Gambia, Guinea, Mali, and Niger, according to the African Development Bank’s (www.AfDB.org) 2023 West Africa Economic Outlook report. Launched on Thursday 27 July, the report assessed the economic performance of 15 West African countries, namely:…