Source: African Development Bank Group (AfDB) |

Africa, Latin America and the Caribbean join forces to drive circularity

Dialogue was held among entrepreneurs, academics, and champions on the need to scale up the transition towards circular economies

The African Circular Economy Alliance (ACEA) (www.ACEAafrica.org), and the Circular Economy Coalition of Latin America and the Caribbean (CEC LAC) (https://bit.ly/3hHaxPw) have organized the first regional dialogue to strengthen cooperation around their common objectives. The event, titled “Regional deep-dive: Africa, Latin America & the Caribbean joining forces for circularity,” took…

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

Close partnership between India and Africa could improve the welfare of 2.5 billion people post Covid-19, participants at 2021 Indo-Africa business conclave say

Participants said India and Africa should boost efforts to improve access to medicines, including vaccines and other essential drugs to tackle Covid-19 and future pandemics

The Covid-19 pandemic has provided the impetus for a stronger partnership between India and Africa with potential benefits to both as they build back sustainably after the crisis, experts attending the 16th CII-Exim Bank Digital Conclave on India-Africa Project Partnership (https://bit.ly/3rgmnDG) affirmed. Speaking at the virtual event’s opening, Subrahmanyam Jaishankar,…

Source: African Development Bank Group (AfDB) |

African Development Bank’s Affirmative Finance Action for Women in Africa program showcased at Generation Equality Forum

AFAWA is a pan-African initiative whose goal is to unlock financing to bridge the $42 billion financing gap that women entrepreneurs face in Africa

The African Development Bank Group (www.AfDB.org) President, Dr. Akinwumi A. Adesina, joined French President Emmanuel Macron and others at the Generation Equality Forum taking place in Paris this week. He highlighted the role of the Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative in growing the continent’s women-led…

Source: African Development Bank Group (AfDB) |

Correction and reissue: Africa Renewable Energy Fund II secures €130 million first close with SEFA and CTF investments

See Editor’s note below

The Africa Renewable Energy Fund II has achieved its first close at €130 million, following a joint investment of €17.5 million from The Sustainable Energy Fund for Africa and the Climate Technology Fund through the African Development Bank (www.AfDB.org). AREF II, a successor to the original Fund, is a 10-year…

Source: African Development Bank Group (AfDB) |

Korea to channel $600 million into energy investments alongside the African Development Bank

The Korea-Africa Energy Investment Framework (KAEIF) pact follows the signing on 28 May 2021 of a General Cooperation Agreement between the Bank and the Korean government

The African Development Bank (www.AfDB.org), the Korean Ministry of Economy and Finance and the Export-Import Bank of Korea have signed an agreement, under which Korea will provide $600 million in co-financing for energy projects alongside the African Development Bank. The Korea-Africa Energy Investment Framework (KAEIF) pact follows the signing on…

Source: African Development Bank Group (AfDB) |

Covid-19: African countries win the race against time with testing laboratories

Daily testing capacity of African countries rose from 13,200 at the beginning of the epidemic to 105,000

In March 2020, Africa had its back to the wall, helpless in the face of the magnitude of a virus that appeared in Asia and quickly spread to the entire planet. Only two African countries were then able to test for the novel coronavirus: Senegal, with its Pasteur Institute, and…

Source: African Development Bank Group (AfDB) |

CORRECTION: Africa Renewable Energy Fund II secures €130 million first close with SEFA and CTF investments

Correction and reissue; See Editor’s note below

The Africa Renewable Energy Fund II has achieved its first close at €130 million, following a joint investment of €17.5 million from The Sustainable Energy Fund for Africa and the Climate Technology Fund through the African Development Bank (www.AfDB.org). AREF II, a successor to the original Fund, is a 10-year…

Source: African Development Bank Group (AfDB) |

Africa Renewable Energy Fund II secures €125 million first close with SEFA and CTF investments

Other investors include the U.K’s CDC Group, Italy’s CDP, the Netherlands Development Finance Company (FMO) and SwedFund

The Africa Renewable Energy Fund II has achieved its first close at €125 million, following a joint investment of €17.5 million from The Sustainable Energy Fund for Africa and the Climate Technology Fund through the African Development Bank (www.AfDB.org). AREF II, a successor to the original Fund, is a 10-year…

Source: African Development Bank Group (AfDB) |

G7 Development Finance Institutions and multilateral partners to invest over $80 billion into African businesses over the next five years

The announcement is a welcome boost to support the long-term development objectives of African economies that have been negatively impacted by the crisis

The G7 DFIs, the IFC, the private sector arm of the African Development Bank (www.AfDB.org), EBRD and the European Investment Bank today announced that they were committed to investing $80 billion in the private sector over the next five years to support sustainable economic recovery and growth in Africa. The…

Source: African Development Bank Group (AfDB) |

African Development Bank launches AUD$600 million (USD$463.9 million) Kangaroo Social Bond

A Kangaroo bond is a foreign bond issued in the Australian market by non-Australian firms and is denominated in Australian currency

The African Development Bank (www.AfDB.org) launched a A$600 million (US$463.9 million) 5.5-year Kangaroo bond, marking its return to the Australian dollar bond market. The transaction, announced on 8 June, was led by Nomura and RBC Capital Markets. It is the institution’s first benchmark Kangaroo since early 2018 and its first…