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African Development Bank Group (AfDB)

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    • Lusophone Compact Presents Investment Opportunities to Accelerate Inclusive Development at 15th Community of Portuguese-Speaking Countries (CPLP) Summit
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Source: African Development Bank Group (AfDB) |

Lusophone Compact Presents Investment Opportunities to Accelerate Inclusive Development at 15th Community of Portuguese-Speaking Countries (CPLP) Summit

Representing a community of more than 300 million people across four continents, with a combined GDP of $2.3 trillion in 2024, the CPLP holds immense potential for trade, investment, and inclusive economic transformation

The Lusophone Compact Secretariat last week engaged with leaders of the Community of Portuguese-Speaking Countries (CPLP) at their 15th Summit and economic forum in Bissau, Guinea-Bissau. The July 15-18 meetings provided a strategic platform to showcase the Lusophone Compact’s role in attracting private financing to accelerate sustainable economic development in…

African Development Bank Group (AfDB)

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    • The first stage of implementation of the Regional West Africa Rice Development project will involve Gambia, Guinea-Bissau, ECOWAS and AfricaRice. Tens of thousands of rice farmers will benefit from access to seeds, fertilizers and plant protection products
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Source: African Development Bank Group (AfDB) |

The African Development Fund releases initial support of $99 million to finance the development of rice cultivation value chains in West Africa

The project will help to increase production and the productivity of rice cultivation, as well as improving income generation for farmers, particularly women and young people

The Board of Directors of the African Development Fund has approved initial funding of $99.16 million to develop regional rice cultivation value chains as part of the Regional West Africa Rice Development project.   The aim of the project is to increase food security and sovereignty in West Africa by encouraging…

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    • Guinea Bissau: African Development Bank Group president announces $30 million package for infrastructure, budget and governance support
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Source: African Development Bank Group (AfDB) |

Guinea Bissau: African Development Bank Group president announces $30 million package for infrastructure, budget and governance support

The African Development Bank’s initiatives are helping to advance the African Union’s 2063 Agenda in Guinea-Bissau

African Development Bank Group (www.AfDB.org) President Dr Akinwumi A. Adesina has announced a financial package of $30 million dollars to the West African nation of Guinea -Bissau. Adesina made the announcement on Friday during a visit to Bissau, where he met President Umaro Sissoco Embaló and senior government officials. Discussions…

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) |

Guinea Bissau: African Development Fund approves $9.8 million to Guinea-Bissau for COVID-19 relief and resilience

Guinea Bissau has been affected by the COVID-19 pandemic which has led to food shortages, economic pressure and reduced livelihood opportunities in the West African nation

The Board of Directors of the African Development Fund have approved a $9.8 million grant to Guinea Bissau for its national Control Support Project (PALPC), aimed at reducing the spread of the COVID-19 virus and boosting the resilience of health system and communities, especially the most vulnerable. Guinea Bissau has…

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

African leaders reaffirm support for African Development Bank as President Adesina begins second term

The meetings were held virtually due to the restrictions imposed by the COVID-19 outbreak

African leaders on Tuesday reaffirmed their support for the African Development Bank Group (https://www.AfDB.org/) and its leadership under Dr. Akinwumi Adesina as he begins his second five-year term with a renewed mandate to foster sustainable development on the continent.  In goodwill messages to mark Adesina’s inauguration, Presidents Muhammadu Buhari of…

African Development Bank Group (AfDB)

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    • Dr. Akinwumi Adesina, eighth President of the African Development Bank, sworn in for second term (1)
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Source: African Development Bank Group (AfDB) |

Dr. Akinwumi Adesina, eighth President of the African Development Bank, sworn in for second term

Adesina – “Let us move forward, driven by the power of our mission, inspired by the primacy of our vision and emboldened by the strength of our togetherness”

“Today, a rainbow stretches from the 81 member countries of the African Development Bank across the deep blue skies of Africa...The future beckons us for a more developed Africa and a much stronger and resilient African Development Bank.” With these powerful words President of the African Development Bank Group (www.AfDB.org),…

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

African countries making headway in tackling tax evasion and money laundering, 2020 Tax Transparency report says

The report was published during a virtual launch

African countries made great strides in strengthening commitments and capacity to achieve tax transparency and exchange information on illicit fund flows in 2019, the latest Tax Transparency in Africa report, launched Thursday, revealed. Tax Transparency in Africa 2020 - produced by the Global Forum for Transparency and Exchange of Information…