African Development Bank Group (AfDB) / Press Release

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- Singrobo-Ahouaty hydropower plant. Photo courtesy Neo Themis
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Source: African Development Bank Group (AfDB) | Mar 20, 2024

African Development Bank funded energy projects in Egypt and Cote D’Ivoire win top infrastructure and energy accolades at the IJ Global Awards

The Singrobo hydropower was the first hydropower IPP, and private sector-funded climate action investment to reach financial close in West Africa in December 2022

Two African Development Bank (www.AfDB.org)-supported projects have won awards at the IJ global awards held in London, United Kingdom. The Singrobo hydropower plant in Ivory Coast, in which the Bank played the Mandated Lead Arranger role won the Power Deal of the Year award, while the Kom Ombo Solar plant,…

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- Click here for a video of Egyptian Vice Minister of Finance Ahmed Kouchouk's reaction to receiving an award for the Panda Bond issue
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- AfDB staff joined representatives of the Ivorian government and lending institutions in Cape Town to collect an award for a Bank Group-supported project in Cote D’Ivoire
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Source: African Development Bank Group (AfDB) | Mar 08, 2024

African Development Bank-Supported Projects in Egypt and Côte d'Ivoire Win Top Honors at 2024 Bonds, Loans & ESG Capital Markets Africa Awards

The conference recognises the most innovative, ground-breaking deals from across Africa based on their high-quality execution, effectiveness in tapping new pools of liquidity, and innovative structuring

Two African Development Bank-supported (www.AfDB.org) projects have been recognized at the 2024 Bonds, Loans & ESG Capital Markets Africa Awards (https://apo-opa.co/48Ob1Lf) conference. A RMB3.5bn ($478.7 million) Sustainability Panda Bond issue by Egypt was awarded Sovereign, Supra & Agency Bond Deal of the Year and a €533m Sustainable Loan to Côte d'Ivoire…

Source: African Development Bank Group (AfDB) | Nov 30, 2023

Egypt: African Development Bank supports Commercial International Bank with $148 million to prop up small and medium-sized enterprises (SMEs) and trade

The financial package to CIB comes amid a shortage of foreign currency in Egypt due to complex endogenous and exogenous macro-economic and geopolitical factors

Finance Programme name: Financial package to Commercial International Bank of Egypt (CIB) Instruments and amounts: - $10 million Line of credit with a tenor of 10 years, - $90 million subordinated loan with a tenor of 10 years, - $32 million trade finance line of credit with a tenor of 3.5 years - $16…

Source: African Development Bank Group (AfDB) | Nov 27, 2023

Egypt: African Development Bank approves $131 million to promote private sector development and economic diversification

The program supports the Egyptian government’s efforts through a robust public reform matrix to facilitate increased private sector development

Finance Programme name: Private Sector Development and Economic Diversification Support Program – Phase I (PSD-EDSP I) Total amount: US$131 million Background Confronted with significant external shocks in the last few years, Egypt has made substantial efforts to mitigate the impacts of the COVID-19 pandemic and Russia’s invasion of Ukraine on…

Source: African Development Bank Group (AfDB) | Oct 18, 2023

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…

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- African Development Bank (AfDB), European Bank for Reconstruction and Development (EBRD) announce joint task force to build entrepreneurship and jobs creation in Egypt, Morocco, and Tunisia
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Source: African Development Bank Group (AfDB) | Sep 21, 2023

African Development Bank (AfDB), European Bank for Reconstruction and Development (EBRD) announce joint task force to build entrepreneurship and jobs creation in Egypt, Morocco, and Tunisia

The official launch of the taskforce took place on Thursday, 21 September 2023 during a workshop in Tunis, at the North Africa Regional Office of the African Development Bank

The African Development Bank Group (www.AfDB.org) and the European Bank for Reconstruction and Development (EBRD) on Thursday announced the setting up of a joint taskforce to foster entrepreneurship to catalyse jobs creation and growth in Egypt, Morocco, and Tunisia. The official launch of the taskforce took place on Thursday, 21 September…

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- AfDB and Africa Foresight staff at the African Hidden Champions Dinner, 19 June 2023, Cairo
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Source: African Development Bank Group (AfDB) | Jun 23, 2023

African Hidden Champions hosts Egypt’s top business leaders

Participants at the event included executive leadership of African Hidden Champion companies headquartered in Cairo

The African Hidden Champions (AHC) initiative (https://www.AfricanHiddenChampions.co/) has hosted its first “Dinner & Dialogue” in North Africa in Cairo, Egypt. The event is part of a series of regional events that the initiative is holding in key business hubs across Africa in 2023. AHC, a co-partnership of Africa Foresight Group,…

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- AM2023: Closing Ceremony (1)
- AM2023: Closing Ceremony (2)
- AM2023: Closing Ceremony (3)
- AM2023: Closing Ceremony (4)
- Dr. Akinwumi Adesina, Bank Group president
- AM2023: Closing Ceremony (5)
- AM2023: Closing Ceremony (6)
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Source: African Development Bank Group (AfDB) | May 30, 2023

African Development Bank Group to unlock significant additional resources for low income countries - Adesina

The Board of Governors of the African Development Bank Group has approved management’s request to leverage the equity of the African Development Fund, to mobilize more resources on the capital markets

Bank Group draws curtain on 2023 Annual Meetings with a call for action to do more for Africa; Governors give Bank all-clear to tap capital market, using resources from concessional ADF window. The Board of Governors of the African Development Bank Group has approved management’s request to leverage the equity…

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- L-R: AfDB Executive Director Rufus Darkortey; Seedy Keita, Finance Minister and AfDB Governor for The Gambia; Mohammed Amin Adam, Minister of State, Ministry of Finance and Economic Planning, Ghana; Augustus Flomo, Deputy Minister for Economic Management, Liberia; Bockarie Kalokoh, Deputy Minister of Finance, Sierra Leone; and Muhammad Bashar Muhammad, Undersecretary of Economic Planning, Sudan
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Source: African Development Bank Group (AfDB) | May 30, 2023

Five African Development Bank (AfDB) regional member countries set to join African Development Fund replenishment

The Gambia, Ghana, Liberia, Sierra Leone and Sudan plan to contribute $1 million each to ADF’s next replenishment cycle

Five African Development Bank (www.AfDB.org) Governors have signed an agreement committing to contribute at least $1 million to the replenishment of the African Development Fund (ADF), the concessional window of the Bank Group. Under the self-initiated agreement, the five-member constituency—The Gambia, Ghana, Liberia, Sierra Leone, and Sudan—will contribute to the…

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- African Development Bank’s 2023 Annual meetings delegates celebrate Africa Day in pageantry (1)
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Source: African Development Bank Group (AfDB) | May 27, 2023

Africa Day: ‘Let’s put our resources at risk behind Africa’s young people’ - Adesina

The commemoration, which marks the 60th anniversary of the establishment of the African Union, allowed for retrospection by member countries on how the continent can surmount its challenges towards achieving prosperity

Delegates attending the 2023 African Development Bank Group’s (http://www.AfDB.org) Annual Meetings in Sharm El Sheikh, Egypt, celebrated Africa Day on Thursday amid hopes for better prospects for the continent and its youth. The commemoration, which marks the 60th anniversary of the establishment of the African Union, allowed for retrospection by…