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

Nigeria: African Development Bank’s Sustainable Energy Fund for Africa approves $500,000 grant for clean energy

Nigeria Energy Access Fund (NEAF) will make strategic investments in sustainable energy in Nigeria, particularly in the country’s burgeoning off-grid and mini-grid sectors

The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank (ww.AfDB.org), has approved a $500,000 grant to support the development and launch of the Nigeria Energy Access Fund (NEAF), a new private equity fund developed by All On, a Nigerian impact investment firm financed by Shell. NEAF…

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

G5 Sahel heads of State throw their weight behind African Development Bank initiative Desert to power

Bank commits $20 million towards project preparation for the realization of the project

G5 Sahel heads of state at a Summit on Friday in Ouagadougou, Burkina Faso, gave strong support to Desert to Power, an Africa Development Bank (https://www.AfDB.org/) -led initiative. The summit, "Harnessing solar energy for the socio-economic development of the G5 Sahel countries" came on the heels of a high-level technical…

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

African Union Commission calls for further financial input for the New Partnership for Africa’s Development Infrastructure Project Preparation Facility (NEPAD-IPPF) Special Fund

The African Development Bank approved in June 2019 the allocation of UA 3 million from its 2018 Net Income to NEPAD-IPPF

The 29th Oversight Committee (OC) meeting of the New Partnership for Africa’s Development Infrastructure Project Preparation Facility (NEPAD-IPPF) Special Fund held at the headquarters of the African Union Commission in Addis Ababa, Ethiopia, has ended with calls for increased investments to accelerate the closure of Africa’s infrastructure gap. The meeting,…

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

The African Development Fund improving and impacting lives of millions in Africa

In 38 of the continent’s neediest countries, the Fund is creating linkages to promote regional integration, commercial exchanges and enhancing food security

Established to provide concessional buffer to needy economies on the continent, the African Development Fund (ADF), is not only facilitating rapid rollout of development projects, but its investments continue to transform and sustain lives, beneficiaries say. In 38 of the continent’s neediest countries, the Fund is creating linkages to promote…

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

African Development Bank welcomes EUR 40 million investment from the European Commission for the Facility for Energy Inclusion (FEI)

The announcement was made to energy sector stakeholders at a sideline event held during the Africa Energy Forum, which took place in Lisbon, Portugal

The African Development Bank (www.AfDB.org) announced a EUR 40 million investment from the European Commission for the Facility for Energy Inclusion (FEI), a new platform for financing small-scale renewables in Africa. The announcement was made to energy sector stakeholders at a sideline event held during the Africa Energy Forum, which took…

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

Despite challenges, Africa's debt is still under control says African Development Bank

In 2018, the Bank earned $214 million in allocable income, 48% of which has been reinvested in the institution to reinforce reserves and its business growth capacity

The African Development Bank (www.AfDB.org) remains strong with growing operating revenues and allocable income generated since 2010 reaching $2.5 billion, the Bank Group’s Treasurer, Hassatou Diop N'sele, stated on Thursday. In 2018, the Bank earned $214 million in allocable income, 48% of which has been reinvested in the institution to…

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

Country Results Brief 2007-2018: The African Development Bank: a decade of key partnership with Guinea

Access to energy and development of agricultural and industrial value chains represent the two pillars of the Bank’s new strategy in Guinea

The African Development Bank (www.AfDB.org) on Wednesday released its most recent Country Report Brief for Guinea (http://bit.ly/2Wa3LVk). The report highlights the West African nation’s progress over the past 10 years, aided by the Bank, particularly in the areas of economic and financial governance, agriculture, road and energy infrastructure, living conditions.…

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

African Development Bank Business Opportunity Seminar - Investing in partnerships for Africa’s transformation

Ethical business model key to successful project delivery by the African Development Bank - participants

The African Development Bank (www.AfDB.org) held a Business Opportunity Seminar (BOS) focused on strengthening and fostering the engagement of the business sector and of other stakeholders to effectively support investment in infrastructure and human development projects. Seeking strategic alliances and potential business opportunities with the Bank, the participants, private-sector representatives, civil…

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

African Development Bank approves strategy for Central Africa - “crucial for the economic integration of the region”

The Central Africa Regional Integration Strategy Paper (RISP) for 2019 – 2025 builds on the lessons learned from the implementation of previous regional development initiatives

The Board of the African Development Bank (www.AfDB.org) has approved the Central Africa Regional Integration Strategy Paper 2019 – 2025, adopting the Bank’s multinational operations in Central Africa over the indicated period. The Central Africa Regional Integration Strategy Paper (RISP) for 2019 – 2025 builds on the lessons learned from…

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

Nigeria: African Development Bank approves $15 million investment package for Infrastructure Credit Guarantee Company

This intervention will promote local currency infrastructure financing, and further development of the domestic capital market

The Board of the African Development Bank (www.AfDB.org) has approved a $15-million investment package to Infrastructure Credit Guarantee Company (InfraCredit), to support infrastructure financing through the domestic debt capital markets in Nigeria. The investment package to InfraCredit is comprised of a subordinated loan of $10 million and a risk sharing…