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African Development Bank Group (AfDB)

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    • Representatives of the African Development Bank, African Fertilizer Financing Mechanism, the Government of Norway and Apollo Agriculture at the Nairobi launch of the Financing for Sustainable Agriculture Management Project
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Source: African Development Bank Group (AfDB) |

Kenyan Farmers Get Fertilizer Boost with $2 million Africa Fertilizer Financing Mechanism Credit Guarantee

The Mechanism will provide a $2 million partial trade credit guarantee and a grant of $219,000 to Apollo Agriculture Limited, a Kenyan corporation, to facilitate the company’s fertilizer sales

In a significant step to advance food security in Kenya, the Africa Fertilizer Financing Mechanism (https://apo-opa.co/3W642uA) has launched a project that will help deliver nearly 8,000 tons of fertilizers to 100,000 smallholder farmers, boosting harvests and incomes. Through its Fertilizer Financing for Sustainable Agriculture Management Project (https://apo-opa.co/3QfyVsr), the Mechanism will provide a…

African Development Bank Group (AfDB)

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    • Workers carrying bags of fertilizer at a warehouse in Njombe, Tanzania
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Source: African Development Bank Group (AfDB) |

The Africa Fertilizer Financing Mechanism receives $7.3 million to boost agricultural productivity and smallholder farmers’ income

Funding targets food production and income growth for 800,000 smallholder farmers

Global Affairs Canada (https://apo-opa.co/3UlInNr) has provided $7.3 million in funding to the Africa Fertilizer Financing Mechanism (AFFM) to enhance sustainable agricultural productivity and smallholder farmer livelihoods, particularly women and youth across Africa. The financing will aid the Mechanism in replicating its credit guarantee programs, enabling fertilizer importers and aggregators to access…

African Development Bank Group (AfDB)

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    • Italy announces $6 billion plan to strengthen partnership with Africa at Italy-Africa Summit
    • L-R: Italian Prime Minister Georgia Meloni, Dr Akinwumi A. Adesina, president of the African Development Bank Group, and Italian Republic President Sergio Mattarella at Palazzo del Quirinale
    • African Development Bank Group President Dr Akinwumi Adesina (2nd right, 3rd row) joined 25 African leaders and European Union officials at the Italy-Africa Summit
    • African Development Bank Group President Dr Akinwumi Adesina (right) underscored Africa’s resilience, saying, “Africa will determine the future of the world”
    • The President of the European Commission, Ursula von der Leyen (standing), called for a united front “to build alternatives to the deadly smuggling routes”
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Source: African Development Bank Group (AfDB) |

Italy announces $6 billion plan to strengthen partnership with Africa at Italy-Africa Summit

They included an initial pledge of €5.5 billion (US$5.95 billion) including guarantees

The government of Italy unveiled a near US$6 billion plan to support African development at a one-day Italy-Africa plan in Rome on Monday. African Development Bank Group President Dr Akinwumi Adesina (www.AfDB.org) joined 25 African leaders and European Union officials at the summit. The summit—which took place as Italy assumes the Presidency…

African Development Bank Group (AfDB)

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    • African Development Bank, Attijariwafa Bank Europe sign €100 million risk-sharing agreement to unlock private sector potential to drive African trade
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Source: African Development Bank Group (AfDB) |

African Development Bank, Attijariwafa Bank Europe sign €100 million risk-sharing agreement to unlock private sector potential to drive African trade

The pact is expected to catalyse nearly €500 million worth of trade for companies operating in more than twenty African countries

The African Development Bank (www.AfDB.org) and Attijariwafa bank Europe, European subsidiary of the Attijariwafa bank group, have signed a €100 million risk-sharing agreement to strengthen businesses and trade across Africa. The pact is expected to catalyse nearly €500 million worth of trade for companies operating in more than twenty African…

African Development Bank Group (AfDB)

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    • US and African Development Bank forge stronger ties to boost food production (1)
    • US and African Development Bank forge stronger ties to boost food production (2)
    • US Secretary of State Antony Blinken (left) visited AfricaRice HQ in Abidjan, where he praised the African Development Bank Group’s work to improve Africa’s food security. He is welcomed by African Development Bank Group President Akinwumi Adesina (second left) and AfricaRice DG Baboucarr Manneh
    • Speaking to the press, Secretary Blinken said the Biden administration was convinced that there is tremendous potential in investing in the production of crops that are climate-resilient and highly nutritious
    • Bumper harvest: A local rice farmer (right) shows African Development Bank Group President Akinwumi Adesina rice varieties grown from climate-resilient seeds from the Bank’s TAAT initiative during a visit to AfricaRice’s headquarters in Abidjan
    • African Development Bank Group President Akinwumi Adesina shows US Secretary of State Antony Blinken a variety of rice grown from climate-resilient seeds from the Bank’s TAAT programme during a visit to AfricaRice’s HQ in Abidjan
    • L-R: African Development Bank Group President Akinwumi Adesina and US Secretary of State Antony Blinken listen attentively as a local rice farmer explains how climate-resilient seeds from the Bank’s TAAT programme have increased her yield, during a visit to AfricaRice’s HQ in Abidjan
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Source: African Development Bank Group (AfDB) |

United States and African Development Bank forge stronger ties to boost food production

The United States will work with the African Development Bank to identify opportunities to partner with the US State Department’s Vision for Adapted Crops and Soils (VACS) activities and develop an investment strategy

Secretary of State Blinken and Bank President Adesina Highlight Africa’s Efforts to Feed Itself and Rest of World; Welcome Increased Support and Investment in African Initiatives. United States Secretary of State Antony Blinken has praised the African Development Bank Group for the exceptional efforts it is undertaking to help Africa…

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

African Development Bank Group and Ethiopia Resolve to Normalize Relations

The African Development Bank is delighted with and reassured by the strong personal leadership and firm commitment shown by Prime Minister Abiy Ahmed

Following a serious diplomatic incident in which two international staff of the African Development Bank Group (www.AfDB.org) based in the Bank’s Country Office in Ethiopia were severely assaulted by security agents of the Government of Ethiopia, the African Development Bank lodged a formal complaint with the Government of Ethiopia over…

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

African Development Bank and United Kingdom (UK) select Tunisian cereals project as prime climate finance transaction under landmark Room to Run Sovereign Programme

The project will benefit up to 250,000 cereal farmers in the country, boosting their food security and self-sufficiency

The African Development Bank (www.AfDB.org) and the United Kingdom have announced the selection of the Inclusive and Sustainable Development of the Cereal Sector Project in Tunisia, as a standard-setting project under the Room to Run Sovereign transaction (R2RS) (https://apo-opa.co/3U3D0CP).   Approved in July 2023, this cereal sector project in Tunisia will strengthen…

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

African Development Bank and United Kingdom (UK) announce Kenya as the next beneficiary of unlocked climate finance from the landmark Room to Run Sovereign Program

This project complements the ongoing UK Government efforts to address transmission network capacity limitations, reliability and quality of electricity supply, and high-power system losses, technical and non-technical, in Kenya

The African Development Bank (www.AfDB.org) and the United Kingdom have announced the selection of the Transmission Network Improvement Project in Kenya as a beneficiary project under the Room to Run Sovereign transaction (R2RS) (https://apo-opa.co/3U3D0CP). This means that up to $59 million of the $116 million total project cost corresponding to the…

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

Benin announced as latest beneficiary of unlocked climate finance lending from Room 2 Run Sovereign Programme, a joint initiative of the African Development Bank and the United Kingdom (UK)

The Bank provided a loan of $129 million to the project to improve living conditions in secondary towns throughout Benin by implementing various climate adaptation activities

The African Development Bank (www.AfDB.org) and the UK have announced the Secondary Town Stormwater Drainage Project in Benin as the latest beneficiary project under the Room to Run Sovereign transaction (R2RS). Under the R2RS transaction, the UK Government provided a guarantee to the Bank, unlocking additional climate finance for projects…

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

African Development Bank Group’s international staff to leave Ethiopia over serious diplomatic incident

These decisions follow the recent breach of diplomatic protocol and assault by Ethiopian security forces on two of the African Development Bank’s international members of staff

The African Development Bank (www.AfDB.org) has decided to withdraw all its international staff from Ethiopia immediately. The office will remain open under an Officer-in-Charge. These measures will not affect nationally recruited staff from Ethiopia who will continue their work and remain in the full employment of the Bank. The Bank…