African Development Bank Group (AfDB) / Press Release

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- $4 Trillion is New Annual Financial Target to Save Sustainable Development Goals, says African Development Bank’s Adesina
- Africa is the worst affected region by climate change in the world, yet it receives the least in terms of climate financing. (Picture: floods in Nairobi, 24 April 2024. Credit: AFP)
- 34 heads of state and government committed to implement country-led food and agricultural delivery compacts to achieve food security by 2030 at the Feed Africa Summit (Dakar 2) held in January 2023
- The current annual investment of $4.5 billion in health infrastructure is significantly insufficient when measured against the actual need of $25 billion, said Dr. Adesina
- “Islamic finance principles of shared prosperity, risk-sharing, and ethical investment present a clear path toward bridging the SDGs financing gap,” said Islamic Development Bank President Dr Mohammed Al Jasser
- From left to right: African Development Bank Group President Dr. Akinwumi Adesina, Saudi Arabia’s Governor to the African Development Bank Dr Ryadh M. Alkhareif and Saudi Exim Bank CEO Engineer Saad Al-Khalb
- From left to right: Dr. Akinwumi Adesina and Saudi Fund for Development CEO Sultan bin Abdulrahman Al-Marshad
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Source: African Development Bank Group (AfDB) | Apr 29, 2024

$4 Trillion is New Annual Financial Target to Save Sustainable Development Goals, says African Development Bank’s Adesina

Adesina also spotlighted the African Development Bank’s strategic High 5 program as a cornerstone for progress, as underscored by an independent analysis by the United Nations Development Program

Adesina delivers keynote address as Islamic Development Bank marks its 50th anniversary; Climate and health initiatives are of paramount importance. African Development Bank Group President Dr. Akinwumi A. Adesina has emphasized the critical need for significantly increased financing to meet the Sustainable Development Goals (SDGs). Speaking at the Islamic Development Bank’s…

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- The African Pharmaceutical Technology Foundation receives financial support from the African Development Fund to set up its activities
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Source: African Development Bank Group (AfDB) | Mar 04, 2024

Rwanda: The African Development Fund commits $12 million to the rapid operationalization of the African Pharmaceutical Technology Foundation (APTF)

This foundation will act as a transparent intermediary that promote and negotiate with pharmaceutical multinationals and other countries in the South on sharing technology

The Board of Directors of the African Development Fund approved, in Abidjan on 27 February 2024, $11.96 million Grant to speed up the establishment of the African Pharmaceutical Technology Foundation, headquartered in Kigali, Rwanda. The financial support from the African Development Bank Group’s Regional Public Good window, together with a…

Source: African Development Bank Group (AfDB) | Mar 01, 2022

Biovac and Development Partners Collaborate to Support South Africa’s Vaccine Manufacturing Expansion and Advance Long-Term Health Security Across Africa

Biovac to raise around $150 million (ZAR2.3 billion) to boost increased local vaccine manufacturing capacity across the African continent

Consortium of nine development partners to support Biovac’s expansion of its existing vaccine manufacturing plant capacity, and enable the production of Pfizer-BioNTech’s COVID-19 vaccine and other vaccines; Biovac to raise around $150 million (ZAR2.3 billion) to boost increased local vaccine manufacturing capacity across the African continent; Partners include AfDB (www.AfDB.org),…

Source: African Development Bank Group (AfDB) | Feb 10, 2022

African Development Bank and WHO strengthen South Sudan’s emergency response with phase two of public health center

During phase two, the Center was equipped with hardware and software to facilitate emergency response operations

The government of South Sudan on Thursday inaugurated its Public Health Emergency Operations Center designed to respond promptly and effectively to public health risks and emergencies of international concern. The center is part of a $4.2 million African Development Bank grant-financed Covid-19 response project that included procuring an oxygen plant,…

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- “Africa cannot outsource its healthcare security to the benevolence of others”
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Source: African Development Bank Group (AfDB) | Feb 06, 2022

“Africa cannot outsource its healthcare security to the benevolence of others”

Akinwumi Adesina says at 35th AU Summit

African Development Bank Group (www.AfDB.org) President Dr Akinwumi Adesina has said that the most important lesson of the Covid-19 pandemic for Africa is the need to build a defense mechanism against external shocks, especially in healthcare and financial security. “Investing in health is investing in national security,” Adesina told African…

Source: African Development Bank Group (AfDB) | Dec 14, 2021

South Sudan: A doctor recalls trauma and triumphs with Covid-19 patients

Lori said that improvements in the infectious disease unit have made a significant difference

Dr. Abe Manase Lori is haunted by the memory of a 45-year-old patient who succumbed to Covid-19 at the beginning of the pandemic in South Sudan. “This was a time when we ran out of resources…It was unfortunate. We lost him,” said the 34-year-old doctor, who works at the Dr.…

Source: African Development Bank Group (AfDB) | Dec 04, 2021

Southern Africa Set for Economic Rebound, but Impact of Covid-19 Lingers

Southern Africa is projected to grow 3.2% in 2021 and 2.4% in 2022, according to the Bank’s Southern Africa Economic Outlook

Southern Africa is set for an economic rebound in 2021 and 2022, provided the Covid-19 pandemic tapers off, according to a report published by the African Development Bank (www.AfDB.org). Like elsewhere on the continent, the pandemic will be a deciding factor in the region’s economic fortunes. If all goes well,…

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- African Economic Conference: Development community calls for universal vaccine access to mitigate impact of Omicron, other Covid-19 variants
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Source: African Development Bank Group (AfDB) | Dec 03, 2021

African Economic Conference: Development community calls for universal vaccine access to mitigate impact of Omicron, other Covid-19 variants

The World Health Organization categorized Omicron as a Covid-19 “variant of concern”, signifying that it could be more contagious than other known mutations

Cabo Verde President José Maria Neves on Thursday joined the development community in calling for urgent universal vaccine access as a way to mitigate the impact of Omicron and other variants of the Covid-19 virus. The World Health Organization on Friday categorized Omicron as a Covid-19 “variant of concern”, signifying…

Source: African Development Bank Group (AfDB) | Nov 29, 2021

2021 Africa Investment Forum Postponed

The African Development Bank Group and the Government of Côte d’Ivoire wish to thank previously expected participants and delegations and look forward to hosting the event at a future date

Following consultations with the Government of Côte d’Ivoire and the Board of Directors of the African Development Bank Group (www.AfDB.org), the 2021 Africa Investment Forum scheduled for December 1-3, 2021, in Abidjan, is postponed until further notice. The President of the African Development Bank Group, Dr. Akinwumi Adesina said: “The…

Source: African Development Bank Group (AfDB) | Nov 17, 2021

At IATF, Multilateral Financiers Discuss Trade Initiatives after Covid-19

The conversation took place during a panel discussion at the Intra-African Trade Fair, launched in 2018 to give the AfCFTA, which came into effect this year

Multilateral financial institutions on Tuesday discussed their role in promoting trade under the African Continental Free Trade Area (AfCFTA), an ambitious plan to create the world’s largest free trade zone since the founding of the World Trade Organization. The conversation took place during a panel discussion at the Intra-African Trade…