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

African Development Bank Group to Launch New Trust Fund for the Circular Economy

Circular economy principles play a strategic role in advancing the African Development Bank’s High-5 development priorities

The Board of Directors of the African Development Bank (www.AfDB.org) has approved the establishment of a €4 million Africa Circular Economy Facility to drive integration of the circular economy into African efforts to achieve nationally defined contribution (NDC) targets. The Facility (https://bit.ly/3voaQVl), a multi-donor trust fund, will operate over a period…

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    • Muluneh Bonsa, deputy manager of a solar site in rural Ethiopia, says the African Development Bank Group-funded initiative is helping rural Ethiopians gain access to clean water. Ethiopia will also benefit from the flagship Desert to Power initiative
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Source: African Development Bank Group (AfDB) |

African Development Fund approves $5.5 million grant to fund phase two of flagship Desert to Power energy project in Djibouti, Eritrea, Ethiopia and Sudan

Known as the East Africa Regional Energy Project, it will be financed through the ADF-15 Regional Public Good window of the African Development Fund

The Board of Directors of the African Development Fund has approved a $5.5 million technical assistance grant to kick-start the roll-out of the flagship Desert to Power (https://bit.ly/3O29ZC1) initiative in the Eastern Sahel region countries of Djibouti, Eritrea, Ethiopia and Sudan. Known as the East Africa Regional Energy Project, it…

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    • Dr. Akinwumi A. Adesina, President of the African Development Bank (left) and Gwede Mantashe, South Africa's Minister of Minerals and Energy, held a bilateral meeting on 25 March 2022
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Source: African Development Bank Group (AfDB) |

South Africa’s energy transition needs full financial support, says African Development Bank Group President

The African Development Bank estimates that South Africa would need more than $30 billion for transition to renewable energy

African Development Bank Group (www.AfDB.org) President Dr Akinwumi Adesina has assured South Africa of the Bank’s strong support as the country transitions from fossil fuel to renewable energy. Adesina told Minister for Mineral Resources and Energy, Gwede Mantashe, that the Bank was in the process of setting up an African…

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

Radio News Release (Soundbite): African Development Bank pledges $2.8 billion to South Africa over five years

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African Development Bank Group (www.AfDB.org) President Dr. Akinwumi A. Adesina has pledged his institution’s support for South Africa, announcing a $2.8 billion package for the country over the next five years. Some $400 million (ZAR 6 billion) will support South Africa’s Eskom and the country’s energy transition. Adesina was speaking…

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    • “We know South Africa is bankable” – Akinwumi A. Adesina, President, African Development Bank Group, South Africa Investment Conference, 24 March 2022
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Source: African Development Bank Group (AfDB) |

South African Investment Conference Highlights Nation’s Resilience

African Development Bank pledges $2.8 billion to South Africa over five years

African Development Bank Group (www.AfDB.org) President Dr. Akinwumi A. Adesina has pledged his institution’s support for South Africa, announcing a $2.8 billion package for the country over the next five years. Some $400 million (ZAR 6 billion) will support South Africa’s Eskom and the country’s energy transition. Adesina was speaking…

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    • African Development Bank Group President Akinwumi Adesina begins official visit to South Africa
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Source: African Development Bank Group (AfDB) |

African Development Bank Group President Akinwumi Adesina begins official visit to South Africa

Adesina will meet South African President Cyril Ramaphosa, and various government and industry leaders

African Development Bank head Dr. Akinwumi A Adesina (www.AfDB.org) is in Johannesburg at the start of a three-day official visit to South Africa. Adesina will meet South African President Cyril Ramaphosa, and various government and industry leaders. He will discuss with them important global and regional concerns, the African Development…

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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…

Source: African Development Bank Group (AfDB) |

AfricaGoGreen Fund receives over $30 million investments from the African Development Bank, the Sustainable Energy Fund for Africa, and the Nordic Development Fund

Launched in early 2021 with EUR 45 million in catalytic capital, the AfricaGoGreen Fund is a flagship project under the G20 Compact with Africa

The African Development Bank (www.AfDB.org)and the Bank’s Sustainable Energy Fund for Africa (SEFA) have approved a combined-equity investment of $20 million in the AfricaGoGreen Fund (https://bit.ly/3CwrGUW), a debt fund established to promote private investments in energy-efficient technologies and business models, with the objective of decarbonising African economies and accelerating the…

Source: African Development Bank Group (AfDB) |

African Development Bank Group approves Leveraging Energy Access Finance Framework (LEAF) program to promote investment in decentralized renewable energy

Under LEAF, some 18 decentralized renewable energy projects are expected to be financed, providing access to six million people and businesses

The Board of Directors of the African Development Bank Group (www.AfDB.org) on Wednesday approved the Leveraging Energy Access Finance Framework (LEAF), under which the Bank will commit up to $164 million to promote decentralized renewable energy in six African countries. The $800 million program will help spur commercial and local…

Source: African Development Bank Group (AfDB) |

African Development Bank Group approves $379.6 million Desert to Power financing facility for the G5 Sahel countries

The facility is expected to result in 500 MW of additional solar generation capacity and facilitate electricity access to some 695,000 households

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved the Desert to Power G5 Sahel Financing Facility, covering Burkina Faso, Chad, Mali, Mauritania, and Niger. The Bank envisages to commit up to $379.6 million in financing and technical assistance for the facility over the next seven…