Source: African Development Bank Group (AfDB) |

Our journey to electrify the continent: Five years of the New Deal on Energy for Africa (By Dr. Kevin Kariuki)

The NDEA called for a substantial increase in investments to realize the Bank’s High 5 priority to “Light Up and Power Africa”

By Dr. Kevin Kariuki Five years into the African Development Bank’s (https://www.AfDB.org/) ambitious New Deal on Energy for Africa (NDEA), the Bank’s investments are set to provide electricity access to around 13 million people and deliver about 55,000 km of distribution lines, and 6,700 km of transmission lines, of which…

Source: African Development Bank Group (AfDB) |

Ghana Cocoa Board, African Development Bank and financial partners celebrate first $200 million disbursement of loan to boost cocoa productivity in Ghana

Ghana supplies 70% of all cocoa beans imported into Japan and cocoa is seen as one of the nation’s most essential import commodities

Ghana Cocoa Board (COCOBOD) and lenders have welcomed the first disbursement of $200 million of a syndicated loan facility to boost cocoa productivity in the world’s second-largest producer. The occasion was marked by a ceremony held in Accra, Ghana on Tuesday 23 June, followed online by hundreds of observers across…

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

Infrastructure Fund Africa50 helps Egypt’s Solar Power Sector take off

Africa50 is an independent infrastructure fund, focused on high-impact projects mostly in the energy and transport sectors

A 37-square-kilometer solar park so large that it can be seen from space, with over seven million photovoltaic panels, and funding of $4 billion. In Africa? Impossible? Not anymore. Thirty international infrastructure developers got behind this project, investing in Egypt’s massive Benban solar park, which will be the largest in…

Source: African Development Bank Group (AfDB) |

Egypt: African Development Bank approves 225 million euros budget support loan for electricity sector to bolster economic resilience and sustainability amid COVID-19

The funding, provided in a challenging global context, will help meet the Government of Egypt’s financing requirements in the light of the COVID-19 pandemic

The Board of Directors of the African Development Bank (https://www.AfDB.org/) on Wednesday approved a 225 million euros loan to finance Egypt’s Electricity and Green Growth Support Program (EGGSP). The funding, provided in a challenging global context, will help meet the Government of Egypt’s financing requirements in the light of the…

Source: African Development Bank Group (AfDB) |

African Development Bank joins Nasdaq Sustainable Bond Network

By joining the Nasdaq Sustainable Bond Network, socially responsible issuers are provided a unique opportunity to bring attention to their concrete actions

Nasdaq (Nasdaq: NDAQ) on Wednesday announced the inclusion of the African Development Bank (www.AfDB.org), one of the world’s  largest issuers of social bonds, in the Nasdaq Sustainable Bond Network (NSBN). The NSBN is a global and publicly available platform designed to improve transparency in the market for green, social and…

Source: African Development Bank Group (AfDB) |

Ethiopia: The African Development Bank gives $1.2 million for Ethiopia-Sudan railway study

The two-year, comprehensive feasibility study will assess the proposed project’s technical, economic, environmental and social viability

The African Development Bank’s (www.AfDB.org) Board of Directors has approved a $1.2 million grant to Ethiopia’s government to finance a feasibility study for construction of a standard-gauge railway (SGR) link between Ethiopia and neighbouring Sudan. The grant, from the African Development Fund, the Bank Group's concessional-rate lending arm, would cover…

Source: African Development Bank Group (AfDB) |

Africa’s Biodiversity Webinar series World Environment Day and World Oceans Day

World Environment Day has been celebrated on June 5 every year since 1974 to raise awareness about protection of the environment

What: Africa’s Biodiversity Webinar series            Webinar 1: Investing in Africa's biodiversity for a resilient and sustainable future            Webinar 2: Protect 30% of the Blue Planet by 2030. Who: African Development Bank (www.AfDB.org) , Ministry of Environment of Cote d’Ivoire, UN Environment Programme When: June 5, 2020, 10:00 GMT (Webinar 1)…

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

The “High 5s”: A strategic vision and results that are transforming Africa

Structural transformation is needed to create more jobs, reduce poverty and accomplish sustainable development objectives

For the past ten years, Africa has recorded some of the world’s strongest rates of economic growth. At the same time, many African economies continue to function at well below their full potential. Structural transformation is needed to create more jobs, reduce poverty and accomplish sustainable development objectives. The African…

Source: African Development Bank Group (AfDB) |

Retool annual budgets toward agriculture production and expand food reserves, as COVID-19 exacerbates food scarcity, urges African Development Institute seminar

Africa must now, more than ever, develop and implement policies to enhance capacity to compete in the agriculture sector, processing, trade and industry

African countries need to urgently expand food reserves, keep food supply flowing and boost their agriculture budgets to avert a possible hunger pandemic, partly caused by the COVID-19 pandemic, delegates at a two-day webinar hosted by the African Development Institute (ADI) urged on Tuesday. Africa must now, more than ever,…

Source: African Development Bank Group (AfDB) |

Madagascar: Government of Madagascar gets Euro 4 million from African Development Fund for Sahofika hydropower project

The Sahofika project is located on the Onive River, 100 km southeast of the capital Antananarivo

The African Development Fund has approved a 4.02 million euro loan with a grant component to finance the Government of Madagascar’s 30 million euro equity investment in the Sahofika hydropower project, which will generate affordable, clean energy benefitting some 8 million people. The Sahofika project is located on the Onive…