Source: African Development Bank Group (AfDB) |

Climate financing by leading multilateral development banks tops $61.6 billion

The Bank exceeded its target of achieving parity between adaptation and mitigation finance by allocating 55% of its climate finance resources to adaptation and 45% to mitigation

Climate financing by seven of the world’s largest multilateral development banks (MDBs) totalled $61.6 billion in 2019, of which $41.5 billion (67%) was in low- and middle-income economies, according to the 2019 Joint Report on Multilateral Development Banks’ Climate Finance (https://bit.ly/31noGIB). The study expands the scope of reporting for the…

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

Conversation with Marieme Esther Dassanou, Coordinator of the African Development Bank’s Affirmative Finance Action for Women in Africa programme

She previously led IFC’s Gender Secretariat's work on advancing women's inclusion in the insurance and financial sectors

Marieme Esther Dassanou is the Coordinator of Affirmative Finance Action for Women in Africa (AFAWA) the African Development Bank’s (https://www.AfDB.org/) flagship pan-African initiative, which aims to bridge the $42 billion financing gap facing women entrepreneurs in Africa. She previously led IFC’s Gender Secretariat's work on advancing women's inclusion in the…

Source: African Development Bank Group (AfDB) |

Burkina Faso : la filière du karité majoritairement féminine réalise plus de 60 millions de dollars d’exportations

Les revenus des exportations de la filière sont ainsi passés de 52,7 millions de dollars américains en 2016 à 61,8 millions de dollars en 2019

Le Projet d’appui au développement intégré de la filière karité pour l’autonomisation économique des femmes (PADIFK), mis en œuvre entre 2016 et 2019 au Burkina Faso, a stimulé les exportations des produits du karité, selon un rapport de la Banque africaine de développement (www.AfDB.org) publié le 16 juillet. Le PADIFK,…

Source: African Development Bank Group (AfDB) |

African Development Fund approves UA100.4 million multi-country Covid-19 Response Support for Malawi, Madagascar, Mozambique and Sao Tome

The package will support the national actions of the four countries in mitigating the impact of COVID-19, with the overall objective of protecting lives and livelihoods

The Board of Directors of the African Development Fund (ADF) on Wednesday approved a UA100.4 million (about $138 million) crisis budget support package to four southern African countries – Malawi, Madagascar, Mozambique and São Tomé & Príncipe, in the wake of the COVID-19 pandemic. Under the package, known as the…

Source: African Development Bank Group (AfDB) |

Tribute: Prime Minister Amadou Gon Coulibaly (By Akinwumi A. Adesina, Président, African Development Bank)

Amadou Gon was an exemplary leader

By Akinwumi A. Adesina, Président, African Development Bank July 8 was all like every normal day, focused on work. I had no inkling there would be a storm, even though we have weathered many storms and floods in Abidjan in recent times. Like a jolting bolt of thunder, everything changed…

Source: African Development Bank Group (AfDB) |

International community shows strong support for Sudan with $1.8 billion pledge

The African Development Bank has earmarked about $115 million in grants for the next three years to finance public sector projects and programs in Sudan

Over $1.8 billion dollars in pledges for Sudan poured in during a high-level Sudan Partnership Conference held on Thursday, 25 June 2020, marking an important step in the African nation’s re-engagement with the international community. African Development Bank (https://www.AfDB.org/) President, Akinwumi Adesina, and the World Bank and the International Monetary…

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 strongly rebuts claims that it plans to provide financial support to the East African Crude Oil Pipeline Project

The NEPAD Infrastructure Project Preparation Facility (NEPAD-IPPF) has not provided financing to any Private Sector Company for upstream oil or gas pipeline projects in East Africa

The African Development (www.AfDB.org) Bank has become aware of an inaccurate news article stating that the institution plans to provide financial support to the East African Crude Oil Pipeline Project. The Bank strongly refutes the claims in the misleading article, which references a letter by a group of civil society…

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

African Development Bank appoints Nourredine Lafhel Acting Chief Risk Officer

An experienced risk management professional, Nourredine has more than twenty (20) years of experience in finance and risk management

The African Development Bank Group (www.AfDB.org) is pleased to announce the appointment of Mr. Nourredine Lafhel as Acting Chief Risk Officer, effective 6th April 2020. Lafhel, a Canadian national, is currently the Sovereign Credit and Market Risk Division Manager (PGRF3), in the Directorate of the Group Risk Management Function of the African Development Bank Group. An…

Source: African Development Bank Group (AfDB) |

African Development Bank Group approves Gender Equality Trust Fund and Risk-Sharing Mechanism to improve women’s economic empowerment in Africa

Funded by donors, the GETF will support the delivery and scale-up of the Bank’s Affirmative Finance Action for Women in Africa (AFAWA) programme

The Board of Directors of the African Development Bank Group (www.AfDB.org) have approved a new Gender Equality Trust Fund (GETF) aimed at pushing forward gender equality and women’s empowerment across the continent. Funded by donors, the GETF will support the delivery and scale-up of the Bank’s Affirmative Finance Action for…