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African Development Bank Group (AfDB)

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    • Tunisia: African Development Bank (AfDB), AMEA Power, International Finance Corporation (IFC) and Sustainable Energy Fund for Africa (SEFA) launch first large-scale privately-financed solar project (1)
    • Tunisia: African Development Bank (AfDB), AMEA Power, International Finance Corporation (IFC) and Sustainable Energy Fund for Africa (SEFA) launch first large-scale privately-financed solar project (2)
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Source: African Development Bank Group (AfDB) |

Tunisia: African Development Bank (AfDB), AMEA Power, International Finance Corporation (IFC) and Sustainable Energy Fund for Africa (SEFA) launch first large-scale privately-financed solar project

This initiative stands as one of Tunisia's most impactful infrastructure projects in over a decade

The African Development Bank (www.AfDB.org) and the Sustainable Energy Fund for Africa (SEFA), in partnership with the International Finance Corporation and UAE's AMEA Power, today herald Tunisia's first privately-financed solar project. This initiative is set to revolutionise the nation's energy scene by cutting power generation costs, significantly trimming greenhouse gas…

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

African Development Bank and Korea Environmental Industry and Technology Institute (KEITI) sign agreement to deploy environmental and climate-resilient technologies in Africa

Through this partnership, Korea will share technology, experience, and knowledge with the bank’s African member countries

The African Development Bank (www.AfDB.org) and the Korea Environmental Industry and Technology Institute (KEITTI) (https://apo-opa.info/3Pshxj7) have signed a joint technical assistance agreement to enable the scale up of investment in low-carbon and climate-resilient technologies. This will ultimately support climate change mitigation and adaptation efforts in many African countries. The two…

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)

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    • AfDB President Akinwumi Adesina (left) and Korea's Deputy Prime Minister Kyungho Choo at the opening of the 7th Korea-Africa Economic Cooperation Ministerial Conference in Busan
    • 33 African finance ministers, ambassadors, heads of pan-African institutions and NGOs, CEOs and Korean private sector leaders gathered in Busan for the 7th KOAFEC Ministerial Conference
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Source: African Development Bank Group (AfDB) |

Korea and Africa rally additional finance and technology for universal energy access and to make Africa world’s breadbasket

The Korea Trust Fund and the $600 million Korea-Africa Energy Investment Framework will support African countries in strengthening human capacity and developing their energy sectors

The 7th Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference opened in Korea’s second-largest city, Busan, on Wednesday with a strong call for additional resources to help African countries achieve universal access to energy and transform the continent into the breadbasket of the world. The conference is taking place at a time…

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

African Development Bank's Sustainable Energy Fund for Africa welcomes $50 million in new commitments from Germany and United States of America at Africa Climate Summit

The contributions will serve to boost its position as one of the continent’s leading climate finance facilities

The African Development Bank's (www.AfDB.org) Sustainable Energy Fund for Africa (SEFA) (https://apo-opa.info/3EfNjLE) welcomes approximately $50 million in new funding contributions from Germany and the United States. The contributions will serve to boost its position as one of the continent’s leading climate finance facilities. The funding was announced on Tuesday 5 September at…

African Development Bank Group (AfDB)

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    • AfDB Director Daniel Schroth (left), and Power Africa’s Acting Coordinator David Thompson signed an updated, expanded Regional Development Objectives Agreement in Nairobi (1)
    • AfDB Director Daniel Schroth (left), and Power Africa’s Acting Coordinator David Thompson signed an updated, expanded Regional Development Objectives Agreement in Nairobi (2)
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Source: African Development Bank Group (AfDB) |

United States Agency for International Development's (USAID) Power Africa, African Development Bank broaden cooperation on fighting energy poverty and climate change in Africa

During the signing at the Africa Energy Forum, Power Africa’s Acting Coordinator David Thompson highlighted the role of partnerships in accelerating and sustaining the just energy transition

The United States Agency for International Development (USAID), through the Power Africa Presidential Initiative, and the African Development Bank (www.AfDB.org), have signed an extension and expansion of their existing Regional Development Objectives Agreement (RDOAG) on the margins of the Africa Energy Forum (www.Africa-Energy-Forum.com) in Nairobi. The move deepens the strategic…

African Development Bank Group (AfDB)

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    • African governments, partners express support for Alliance for Green Infrastructure in Africa toward target of mobilizing $500 million
    • (From right) AfDB President Akinwumi Adesina with Madagascar President Andriy Rajoelina, Comoros President Azali Assoumani, Ghana President Nana Akufo-Addo; Mauritania President Mohamed Ould Ghazouani; Prime Minister of Cote d’Ivoire Patrick Achi; Kenya President William Ruto, and Democratic Republic of the Congo Prime Minister Jean-Michel Sama Lukonde Kyenge at the AGIA side event in Paris.
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Source: African Development Bank Group (AfDB) |

African governments, partners express support for Alliance for Green Infrastructure in Africa toward target of mobilizing $500 million

Event on sidelines of the Paris Forum features announcement of $5 million grant for initiative

On the sidelines of the Summit for a New Global Financing Pact in Paris, African leaders, investors and development partners, including the African Development Bank Group (www.AfDB.org), have highlighted their steadfast support for the Alliance for Green Infrastructure in Africa as it advances toward a first close of $500 million…

African Development Bank Group (AfDB)

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    • (L-R) Rémy Rioux, CEO of Agence Française de Développement; Akinwumi Adesina, president of the African Development Bank; Muhammad Al Jasser, chairman of the Islamic Development Bank Group; Abdulhamid Alkhalifa, OPEC Fund Director General; and Stephanie von Friedeburg, Managing Director, Public Sector banking, Capital Markets at Citi, who moderated the session (1)
    • (L-R) Rémy Rioux, CEO of Agence Française de Développement; Akinwumi Adesina, president of the African Development Bank; Muhammad Al Jasser, chairman of the Islamic Development Bank Group; Abdulhamid Alkhalifa, OPEC Fund Director General; and Stephanie von Friedeburg, Managing Director, Public Sector banking, Capital Markets at Citi, who moderated the session (2)
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Source: African Development Bank Group (AfDB) |

“De-risking capital is key to scaling up development finance”, African Development Bank’s Adesina tells Organisation of Petroleum Exporting Countries (OPEC) Fund forum

OPEC Fund Director-General Abdulhamid Alkhalifa highlighted the need for development financiers to remodel their operations to attract other resources to close the huge finance gap

Global development financiers attending this year’s Organisation of Petroleum Exporting Countries (OPEC) Fund’s forum in Vienna, Austria, have pledged a strong commitment to remodel their investments to support green projects at scale. The delegates, representing multilateral development banks and intergovernmental institutions, said business and political leaders must do more to…

African Development Bank Group (AfDB)

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    • View of informal settlement in Windhoek, Namibia. Electrification is considered a crucial investment to unlock the economic potential of these areas and substantially improve the living condition of the inhabitants
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Source: African Development Bank Group (AfDB) |

Namibia: Urban areas to receive boost as African Development Bank fund approves grant for solar electricity in informal settlements

The “Informal Settlement Renewable Electrification and Upgrading Program" will directly benefit around 200,000 people in Windhoek, where around 20% of the population does not have electricity

The African Development Bank’s (www.AfDB.org) Urban and Municipal Development Fund (UMDF) (https://apo-opa.info/43CHYIN) has approved a grant of $485,000 for a solar electricity project in Namibia that will power some 50,000 households in the capital city. The “Informal Settlement Renewable Electrification and Upgrading Program" will directly benefit around 200,000 people in…