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Source: African Development Bank Group (AfDB) |

Finance in Common Summit Spring Meeting: public development banks call for new financing for Africa’s recovery post-Covid-19

Participants in the meeting, hosted by the African Development Bank, brainstormed on joint actions that could help boost a strong and inclusive recovery in Africa

A global coalition of public development banks today emphasized the urgency of immediate resources for Africa’s recovery post-Covid 19. Together, they committed to deepening cooperation to boost investment opportunities across the continent. Participants in the meeting, hosted by the African Development Bank, brainstormed on joint actions that could help boost…

Source: African Development Bank Group (AfDB) |

African countries commit to double agricultural productivity as development banks and partners pledge over $17 billion to increase food security

Of the overall amount pledged, more than $10 billion came from The African Development Bank

A coalition of multilateral development banks and development partners has pledged over $17 billion in financing to address rising hunger on the African continent, and to improve food security. These funds were pledged on the final day of a two-day high-level dialogue called Feeding Africa: leadership to scale up successful…

Source: African Development Bank Group (AfDB) |

African Development Bank, IFAD and partners redouble efforts to stop hunger in Africa and strengthen food security

The number of people living with hunger across the African continent increased from 214 million to 246 million between 2015 and 2020

The African Development Bank (www.AfDB.org) and the International Fund for Agricultural Development (IFAD), in partnership with the Forum for Agricultural Research in Africa (FARA) and the CGIAR System Organization, today pledged to work closely with African leaders to address rising hunger on the continent and shore up adequate financing to…

Source: African Development Bank Group (AfDB) |

Africa’s recovery pathway offers enormous opportunities, African Development Bank head says at EU-Africa Green Investment Forum

The hybrid forum was convened by Portugal and the European Investment Bank to mobilize private and public capital towards the green transition in Africa

Sounding a note of optimism at the European Union-Africa Green Investment Forum on Friday, African Development Bank (www.AfDB.org) President Dr. Akinwumi A. Adesina reminded global audiences of the continent’s vast opportunities for green growth. “Africa is a huge market offering incredible opportunities. The recovery pathway offers enormous opportunities. Recovery must…

Source: African Development Bank Group (AfDB) |

Leaders Summit on Climate: African Development Bank President says the continent is “ground zero” of the crisis as major economies boost climate targets

The African Development Bank is the only multilateral development bank to meet and exceed the 50% parity for climate adaptation and resilience

African Development Bank (www.AfDB.org) President Dr. Akinwumi A. Adesina on Thursday joined 40 heads of state and government at the Leaders Summit on Climate, where the United States, Japan and Canada announced ambitious climate targets to address the escalating emergency. United States President Joe Biden said the US would aim…

Source: African Development Bank Group (AfDB) |

African Union holds global conference to accelerate African vaccine development and manufacturing capacity

The meeting was attended by several African heads of state, health, finance and trade ministers from across the continent

African leaders assembled at a global meeting to discuss the status of local pharmaceutical manufacturing on the continent, underscored the need to increase local production of vaccines and therapeutics to achieve greater public-health security. “The production of vaccines and access to vaccines is an absolute priority,” Cyril Ramaphosa, President of…

Source: African Development Bank Group (AfDB) |

African Development Bank’s first virtual business opportunities seminar of 2021, draws 450 global partners and suppliers

Delegates were informed about the Bank’s strategy for supporting economic growth, its priority areas, rules and procedures for project and corporate procurement

The African Development Bank (www.AfDB.org) hosted its first virtual business opportunities seminar (BOS) of 2021 on 6 and 7 April. The BOS seminars offer a one-stop shop for companies, civil contractors, manufacturers, consultants, and suppliers from the Bank Group’s regional and non-regional members seeking to provide goods and services to…

Source: African Development Bank Group (AfDB) |

Increase debt suspension arrangements to offer low-income and middle-income countries fiscal space – heads of state

Prime Minister Justin Trudeau of Canada, Prime Minister Andrew Holness of Jamaica and UN Secretary-General António Guterres convened the virtual meeting

Several heads of state and government, the United Nations and heads of multilateral development finance institutions on Monday called for expansion of the Debt Service Suspension Initiative, under which low-income countries have suspended paying down debt during the Covid-19 pandemic. The initiative should be widened beyond low-income countries and its…

Source: African Development Bank Group (AfDB) |

Women-led Kenyan design house wins Fashionomics Africa sustainable design competition for turning fruit waste into eco-friendly footwear

Pine Kazi, which converts pineapple leaf and recycled rubber into fashionable footwear, won the $2,000 Fashionomics Africa competition cash prize

The African Development Bank’s (www.AfDB.org) Fashionomics Africa initiative has named a women-led Kenya shoe design house as the winner of its competition to support producers of sustainable fashion. Pine Kazi, which converts pineapple leaf and recycled rubber into fashionable footwear, won the $2,000 Fashionomics Africa competition cash prize. In addition,…

Source: African Development Bank Group (AfDB) |

African Union welcomes DRC to African Peer Review Mechanism, urges other countries to join initiative

The African Peer Review Mechanism is a voluntary mechanism that enables AU members to provide and submit to evaluation at local, national and continental levels

The African Union (AU) has welcomed the Democratic Republic of Congo as the newest member of its African Peer Review Mechanism. This took place during the AU’s 30th Forum of Heads of State and Government on Thursday. The meeting included presentations on ongoing or imminent reviews of governance and other…