Source: African Development Bank Group (AfDB) |

North Africa Economic Outlook 2020: An unparalleled crisis and a conditional recovery

Socioeconomic stability, social inclusion and human capital development are prerequisites for resilience and emerging from the crisis

In 2020, the region will face an economic contraction forecast between 0.8 and 2.3%; Socioeconomic stability, social inclusion and human capital development are prerequisites for resilience and emerging from the crisis. The tourism and industrial sectors in North Africa are likely to be hardest hit by the COVID-19 pandemic, according…

Source: African Development Bank Group (AfDB) |

African Development Bank sponsored Off-Grid Energy Access Fund reaches final equity close with partner contributions

The African Development Bank is the fund’s anchor sponsor with a $30 million contribution, and $8.5 million from the Global Environment Facility (GEF)

The Facility for Energy Inclusion’s Off-Grid Energy Access Fund (FEI OGEF) has reached a final equity close with $59 million in committed equity capital and $36 million debt facilities, to support innovative, off-grid energy access companies. The final close, reached on 18 November 2019, was made possible through a $15…

Source: African Development Bank Group (AfDB) |

Africa Day at COP 25 takes stock of climate talks

Africa Day marks Africa’s presence and participation at the various United Nations Climate Change Conference (UNFCCC) sessions since COP 17

What:              Africa Day When:             10 December 2019     Where:            Room 3, Hall 4 at IFEMA Conference Centre, Madrid Time:              18:30 to 20:00 Who:               Jointly organized by the African Union Commission, African Development Bank (http://AfDB.org/), and the United Nations Economic Commission for Africa       Officials, experts, activists and journalists…

Source: African Development Bank Group (AfDB) |

Equatorial Guinea signs Lusophone Compact: new milestone in initiative to accelerate sustainable private sector development

The Portuguese Government has allocated Euro 400 million in guarantees and other risk sharing mechanisms in the 2019 national budget to support the implementation of the Compact

The African Development Bank (AfDB.org) and the governments of Equatorial Guinea and Portugal have signed a country-specific memorandum of understanding for the implementation of the Lusophone Compact, which aims to accelerate private sector development in Portuguese-speaking countries of Africa, known as PALOPs. Equatorial Guinea is the sixth and final PALOP country…

Source: African Development Bank Group (AfDB) |

Angola to Sign Lusophone Country-Specific Compact

On 10 July 2019, The Governments of Angola and Portugal and the African Development Bank, will sign a Country-Specific Compact

WHO: The Government of Angola, the Government of Portugal, and the African Development Bank WHAT: Lusophone Country-Specific Compact Signing Ceremony         WHERE: Luanda International Fair (FILDA), Special Economic Zone    WHEN: 10 July 2019, 10:15-11:25 a.m. On 10 July 2019, The Governments of Angola and Portugal and the African Development Bank, will…

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) |

Switzerland gives 3.2 million Swiss francs to African Development Bank’s ‘Boost Africa’ E-Lab and urban development fund

‘Boost Africa’ was launched in partnership with the African Development Bank and the European Investment Bank to enhance entrepreneurship and innovation across Africa

The State Secretariat for Economic Affairs of the Government of the Swiss Confederation (SECO) and the African Development Bank (www.AfDB.org) on Thursday signed two agreements to fund African initiatives on the sidelines of the Bank’s 2019 Annual Meetings. SECO contributed 3 million Swiss francs to the Entrepreneurship Lab (E-Lab) for…

Source: African Development Bank Group (AfDB) |

Agriculture Fast Track Fund to launch 17 new projects in support of agribusiness small and medium-sized enterprises (SMEs) in Ghana and seven other African countries

The Fund finances the project development cost of a broad range of agriculture infrastructure

Who: The African Development Bank What: Launch of 17 new grant projects funded by the Agriculture Fast Track Fund (AFT) (https://bit.ly/2P94vrr) Date: Wednesday, 17 April 2019, from 9:00 – 11:00am Venue:  African Development Bank, Ghana Country Office, Ridge, Accra. The African Development Bank (www.AfDB.org) will launch 17 new grant projects…

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

African Development Bank welcomes partners to multilateral development bank (MDB) roundtable to strengthen collaboration on donor relations and fund management

Its goal is to share the most efficient methods for mobilising resources towards the achievement of the Sustainable Development Goals (SDGs)

The African Development Bank Group (www.AfDB.org) hosted 11 sister institutions for the annual multilateral development bank (MDB) roundtable on trust funds and co-financing, held on 28-29 March, 2019.    The aim of the roundtable was to enhance benchmarking across the development finance institutions (DFIs), raise awareness of emerging innovative approaches to…

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

Empower women to help save Africa from climate change

Africa must unlock the power of its women and girls if it is to adapt to climate change, cope with disasters and build its green energy sector

That is the message from African delegates as the world prepares to implement the Paris Agreement on climate change in Katowice, Poland, this week. Research shows that when women are involved in decision making, agreements on the environment are more likely to be ratified and projects around natural resources, such…