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African Development Bank Group (AfDB)

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    • The African Development Bank’s Country Manager in Guinea, Léandre Bassolé (right) and the Guinean Minister of Agriculture and Livestock Farming, Mamoudou Nagnalen Barry (left) at the ceremony to receive agricultural supplies for producers in Forécariah
    • Agricultural products displayed by the beneficiaries of the African Development Bank’s emergency food programme in Forécariah
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Source: African Development Bank Group (AfDB) |

Guinea: Agricultural supplies delivered as part of the African Development Bank’s Emergency Food Production Project

The Bank Group approved Guinea's Emergency Food Production Project on 18 November 2022

The transitional government in Guinea, in partnership with the African Development Bank Group (www.AfDB.org), has received a large consignment of agricultural supplies in Guinea’s western town of Forécariah for distribution to local farmers. The consignment, delivered on 13 October 2023, forms part of implementing the Emergency Food Production Project (https://apo-opa.info/3tIMeJw), spearheaded…

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

Guinea: Transitional government and African Development Bank Group sign $28 million loan agreement for agropastoral development, digitization and market access

The Bank’s Country Manager in Guinea, Léandre Bassolé and the Guinean Minister of the Economy and Finance, Moussa Cissé, signed the agreement in Conakry on 3 August 2023

The African Development Bank Group (www.AfDB.org) signed an agreement with the transitional government in Guinea for a $28 million loan to support agropastoral development, digitization and market access in the West African country. The Bank’s Country Manager in Guinea, Léandre Bassolé and the Guinean Minister of the Economy and Finance,…

African Development Bank Group (AfDB)

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    • West African Monetary Institute to receive $8 million from African Development Fund to support enhanced banking identification and financial sector efficiency in the West African Monetary Zone (1)
    • West African Monetary Institute to receive $8 million from African Development Fund to support enhanced banking identification and financial sector efficiency in the West African Monetary Zone (2)
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Source: African Development Bank Group (AfDB) |

West African Monetary Institute to receive $8 million from African Development Fund to support enhanced banking identification and financial sector efficiency in the West African Monetary Zone

The project is expected to enhance financial sector efficiency within the participating countries, leading to increased access to finance and further regional integration efforts

The Board of Directors of the African Development Fund has approved $8 million in funding toward the establishment of a digitally interoperable unique bank identification system and harmonised customer identification framework for The Gambia, Guinea, Liberia and Sierra Leone. Implementation of the project will commence in July 2023, led by the…

African Development Bank Group (AfDB)

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    • The African Development Bank continues its efforts to extend electricity grid in Guinea
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Source: African Development Bank Group (AfDB) |

Guinea: $66 million from the African Development Bank to extend access to electricity

There will be about 100,000 direct beneficiaries of the project composed of individual households, women's associations, health centers, schools and businesses

On 14 July 2022 in Abidjan, the Board of Directors of the African Development Bank Group (www.AfDB.org) approved a $66.39 million support package for Guinea. The funding is intended to help it increase access to electricity. It consists of a $4.17 million grant and a $9.37 million loan from the…

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

The Green Climate Fund approves $170.9m in co-financing for African Development Bank’s Leveraging Energy Access Finance Framework (LEAF) program

LEAF aims to unlock commercial and local-currency financing for decentralized renewable energy (DRE) projects in six program countries

The Board of the Green Climate Fund (GCF) (www.GreenClimate.Fund) has approved $170.9 million in financing for the African Development Bank’s (www.AfDB.org) Leveraging Energy Access Finance Framework (LEAF) program. LEAF aims to unlock commercial and local-currency financing for decentralized renewable energy (DRE)  projects in six program countries: Ghana, Guinea, Ethiopia, Kenya, Nigeria…

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

African Legal Support Facility holds Annual Meetings

The meetings were held virtually from 24-25 May 2021

The African Legal Support Facility (ALSF) (www.ALSF.int) has concluded virtual Annual Meetings of its management board and Governing Council during which the institution’s term was extended until 2036. The extension – for an additional 14 years beyond the original term date of 2022 – was based on the ALSF’s accomplishments,…

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

African Development Bank Group supports Domestic Debt Market Development in The Gambia, Sierra Leone, Guinea and Liberia

The project will provide technical assistance and capacity building to develop domestic debt markets in the four countries

The African Development Bank Group (www.AfDB.org) has launched a project to support development of domestic debt markets and financial systems in four West African Monetary Zone (WAMZ) countries: the Gambia, Sierra Leone, Guinea and Liberia. The Bank had earlier approved a grant of UA1.5 million, or about $2 million for…

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

African Development Bank provides $320 000 in grant funding to mainstream gender in Economic Community of West African States' (ECOWAS) digital financial operations

The grant will be disbursed through the Africa Digital Financial Inclusion Facility, a blended finance vehicle, supported by the Bank

The Board of Directors of the African Development Bank (www.AfDB.org) has awarded a grant of $320, 535 to the West African Monetary Agency to mainstream gender in ECOWAS’ core digital financial services (DFS) regulatory frameworks. The funds will support a gender gap analysis of several WAMA strategies including those for…

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

African Development Bank Group Approves EUR400 million Lusophone Compact Guarantee program to boost private sector development

The new Compact offers a big boost to business development initiatives for the Bank’s non-sovereign portfolio in its Portuguese-speaking African member countries

The Board of Directors of the African Development Bank (www.AfDB.org) Group on Wednesday approved the Lusophone Compact Guarantee Program (LCGP or the Compact), with a maximum risk exposure of up to EUR400 million. The new Compact offers a big boost to business development initiatives for the Bank’s non-sovereign portfolio in…

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

Financial modelling in the extractive sector: Harness Africa’s natural resources for sustainable development - African Development Bank

Natural resources play a critical role in economies, as they contribute to the well-being of the people, as a source of livelihood and contribute to GDP

Africa should harness its natural resources to accelerate sustainable development, the African Development Bank’s (www.AfDB.org) Chief Economist and Vice President for Economic Governance and Knowledge Management has said. Rabah Arezki was speaking to policymakers and stakeholders during a two-day inception workshop which began Monday on the Bank’s Financial Modelling for…