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

European Bank for Reconstruction and Development (EBRD), African Development Bank Group (AfDB) and French Development Agency (AFD) launch tool to support private businesses and public sector improve gender responsiveness

Gender Equality in Climate Action Accelerator will support users in assessing their climate strategies

The European Bank for Reconstruction and Development (EBRD), the African Development Bank Group (www.AfDB.org) and the French development agency AFD, in partnership with the Egyptian government, have launched the Gender Equality in Climate Action Accelerator (https://bit.ly/3TS57Bh). The Accelerator will support private sector companies improve the gender responsiveness of their corporate…

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

Egypt: African Development Bank extends $160 million loan to Banque Misr to strengthen private sector participation in Egypt’s economy

The loan comprises a $130 million line of credit from the Bank and an additional $30 million in funds from the Africa Growing Together Fund (AGTF)

The Board of Directors of the African Development Bank (http://www.AfDB.org) has approved a loan of $160 million to Banque Misr to finance Egyptian businesses that invest in key sectors of the economy. The loan comprises a $130 million line of credit from the Bank and an additional $30 million in…

African Development Bank Group (AfDB)

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    • (L-R) Dr. Adesina, president of African Development Bank Group and OPEC Fund Director-General Abdulhamid Alkhalifa
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Source: African Development Bank Group (AfDB) |

Organization of Petroleum Exporting Countries (OPEC) Fund and African Development Bank Group increase cooperation to promote sustainable development in Africa

The agreement sets the scope for further strategic and operational cooperation through co-financing of public and private sector projects, joint diagnostic and analytical work

The Organization of Petroleum Exporting Countries (OPEC) Fund for International Development and the African Development Bank Group (www.AfDB.org) have signed a memorandum of understanding to expand their partnership to support sustainable economic and social development in Africa. The agreement, signed at the 27th United Nations Climate Conference (COP27) in Sharm…

African Development Bank Group (AfDB)

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    • From left to right: African Development Bank Secretary-General Vincent O. Nmehielle and Acting Governor of Egypt’s Central Bank Hassan Abdalla, 12 Sept. 2022
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Source: African Development Bank Group (AfDB) |

Egypt, African Development Bank Group sign memorandum of understanding on the hosting of the 2023 Annual Meetings in Sharm El Sheikh

The Annual Meetings are the Group’s topmost statutory event

The Government of the Arab Republic of Egypt and the African Development Bank Group (www.AfDB.org) on Monday signed a memorandum of understanding on the hosting of the Bank Group’s 2023 Annual Meetings in May next year. The meetings, which comprise the 58th annual assembly of the African Development Bank and…

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    • Pr.Kevin Chika Urama, African Development Bank's Acting Chief Economist and Vice President for the Economic Governance and Knowledge Management speaking at the panel "African countries ownership in determining climate agenda" on the sidelines of Egypt International Cooperation Forum (Egypt-ICF 2022)
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Source: African Development Bank Group (AfDB) |

Africa loses up to 15% of its Gross Domestic Product (GDP) per capita annually because of climate change –African Development Bank Acting Chief Economist Kevin Urama

Urama highlighted that since the 1850s, countries have managed to transition away from coal, and used gas as a transition to cleaner energy

Africa has been losing from 5 to 15% of its GDP per capita growth because of climate change and its related impacts, but needs about $1.6 trillion between 2022 and 2030 to meet its nationally determination contributions [1], says African Development Bank Group (www.AfDB.org) Acting Chief Economist and Vice President…

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

Egypt: African Development Bank approves USD 271 million for the Food Security and Economic Resilience Support Program

The program includes two major components: Support for the Food Security Response and Build Private Sector and Fiscal Resilience

The African Development Bank (www.AfDB.org) Board of Directors approved a loan of USD 271 million to finance Egypt’s Food Security and Economic Resilience Support Program to support efforts to mitigate the impact of the global shocks on the domestic economy from the Russia-Ukraine conflict and to preserve resilience. The program…

African Development Bank Group (AfDB)

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    • Digital financial solutions are key to reducing the gender access-to-finance gap in Africa
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Source: African Development Bank Group (AfDB) |

We-Fi announces New Round of Funding for Women Entrepreneurs; $15 Million to the Africa Digital Financial Inclusion Facility to Improve Access to Finance for Women-owned Small Businesses

The funds will enable the Africa Digital Financial Inclusion Facility to design and implement programs to improve digital access to finance for women entrepreneurs

The Women Entrepreneurs Finance Initiative (We-Fi)  has announced a new round of funding under which the African Development Bank’s (www.AfDB.org) Africa Digital Financial Inclusion Facility (ADFI) will receive $15 million to develop and extend digital financial solutions to women-owned small and medium businesses in Cameroon, Egypt, Kenya, Mozambique and Nigeria. This…

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    • African Development Bank Group to hold 2022 Annual Meetings from May 23-27 in Accra, Ghana
    • African Development Bank Group to hold 2022 Annual Meetings from May 23-27 in Accra, Ghana (FR)
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Source: African Development Bank Group (AfDB) |

African Development Bank Group to hold 2022 Annual Meetings from May 23-27 in Accra, Ghana

The physical sessions will take place at the Accra International Conference Centre

Ghana will host the African Development Bank Group’s 2022 Annual Meetings (AM.AfDB.org) from 23-27 May in its capital, Accra. This year’s meetings mark a return to in-person sessions following virtual meetings over the last two years. They will be held in a hybrid format with participants present in Accra and online.…

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    • Right: H.E. Dr. Rania A. Al-Mashat, Egyptian Minister of International Cooperation; left: Dr. Kevin Kariuki, Vice President for Power, Energy, Climate and Green Growth, AfDB
    • A delegation from the African Development Bank led by Mr. Kevin Kariuki, Vice President for Power, Energy, Climate and Green Growth meets with Dr. Rania Al-Mashat, Egypt’s Minister of International Cooperation, at the Ministry's headquarter in Cairo (1)
    • H.E. Dr. Rania A. Al-Mashat, Egyptian Minister of International Cooperation, and Dr. Kevin Kariuki, Vice President for Power, Energy, Climate and Green Growth, AfDB, discuss critical issues for COP27 (1)
    • A delegation from the African Development Bank led by Mr. Kevin Kariuki, Vice President for Power, Energy, Climate and Green Growth meets with Dr. Rania Al-Mashat, Egypt’s Minister of International Cooperation, at the Ministry's headquarter in Cairo (2)
    • H.E. Dr. Rania A. Al-Mashat, Egyptian Minister of International Cooperation (right), and Dr. Kevin Kariuki, Vice President for Power, Energy, Climate and Green Growth, AfDB, discuss critical issues for COP27 (2)
    • A delegation from the African Development Bank led by Mr. Kevin Kariuki, Vice President, Power and Green Growth, meets with H.E. Dr. Rania Al-Mashat, Egypt’s Minister of International Cooperation, at the Ministry's headquarter in Cairo (3)
    • A delegation from the African Development Bank led by Mr. Kevin Kariuki, Vice President, Power and Green Growth, meets with H.E. Dr. Rania Al-Mashat, Egypt’s Minister of International Cooperation, at the Ministry's headquarter in Cairo (4)
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Source: African Development Bank Group (AfDB) |

African Development Bank delegation in Egypt to ensure success of COP27

COP 27 is scheduled for November 2022 in the coastal city of Sharm El Sheikh

African Development Bank (www.AfDB.org) Vice President Dr. Kevin Kariuki will lead a delegation to Egypt, the host country for this year’s United Nations Climate Change Conference 2022, for exploratory talks on how the Bank and Egypt can collaborate to make COP27 a truly breakthrough event for people and planet.  COP…

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

Southern Africa Set for Economic Rebound, but Impact of Covid-19 Lingers

Southern Africa is projected to grow 3.2% in 2021 and 2.4% in 2022, according to the Bank’s Southern Africa Economic Outlook

Southern Africa is set for an economic rebound in 2021 and 2022, provided the Covid-19 pandemic tapers off, according to a report published by the African Development Bank (www.AfDB.org). Like elsewhere on the continent, the pandemic will be a deciding factor in the region’s economic fortunes. If all goes well,…