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African Development Bank Group (AfDB)

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    • Tunisia: African Development Bank (AfDB), AMEA Power, International Finance Corporation (IFC) and Sustainable Energy Fund for Africa (SEFA) launch first large-scale privately-financed solar project (1)
    • Tunisia: African Development Bank (AfDB), AMEA Power, International Finance Corporation (IFC) and Sustainable Energy Fund for Africa (SEFA) launch first large-scale privately-financed solar project (2)
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Source: African Development Bank Group (AfDB) |

Tunisia: African Development Bank (AfDB), AMEA Power, International Finance Corporation (IFC) and Sustainable Energy Fund for Africa (SEFA) launch first large-scale privately-financed solar project

This initiative stands as one of Tunisia's most impactful infrastructure projects in over a decade

The African Development Bank (www.AfDB.org) and the Sustainable Energy Fund for Africa (SEFA), in partnership with the International Finance Corporation and UAE's AMEA Power, today herald Tunisia's first privately-financed solar project. This initiative is set to revolutionise the nation's energy scene by cutting power generation costs, significantly trimming greenhouse gas…

African Development Bank Group (AfDB)

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    • The Director General of the Nigeria Country Department, Lamin Barrow (centre left) and the President of the ECOWAS Commission, Omar Alieu Touray (centre right) led the African Development Bank and ECOWAS Commission delegations. Image source: African Development Bank Group
    • The African Development Bank and the ECOWAS Commission conducted consultations to evaluate the Regional Integration Strategy in Abuja from 5 to 15 September 2023. Image source: African Development Bank Group
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Source: African Development Bank Group (AfDB) |

African Development Bank and Economic Community of West African States (ECOWAS) assess regional integration strategy

The Bank Group approved the West Africa RISP 2020-2025 in May 2020 to support regional integration efforts in West Africa

The Economic Community of West African States (ECOWAS) and the African Development Bank Group (www.AfDB.org) have concluded consultations for the mid-term assessment of the West Africa Regional Integration Strategy Paper (RISP) 2020-2025 (https://apo-opa.info/48mtfVb). The Bank Group approved the West Africa RISP 2020-2025 in May 2020 to support regional integration efforts…

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

African Development Bank and Korea Environmental Industry and Technology Institute (KEITI) sign agreement to deploy environmental and climate-resilient technologies in Africa

Through this partnership, Korea will share technology, experience, and knowledge with the bank’s African member countries

The African Development Bank (www.AfDB.org) and the Korea Environmental Industry and Technology Institute (KEITTI) (https://apo-opa.info/3Pshxj7) have signed a joint technical assistance agreement to enable the scale up of investment in low-carbon and climate-resilient technologies. This will ultimately support climate change mitigation and adaptation efforts in many African countries. The two…

African Development Bank Group (AfDB)

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    • Visit to African Development Bank by Swedfund delegation signals push for closer partnership
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Source: African Development Bank Group (AfDB) |

Visit to African Development Bank by Swedfund delegation signals push for closer partnership

Hakaanson said she hoped the visit would strengthen Swedfund’s partnership with the African Development Bank

During a visit to the African Development Bank (www.AfDB.org), Swedfund CEO Maria Hakaanson has expressed keen interest in strengthening the cooperation and exploring opportunities for the Swedish state development finance institution’s strategic portfolio. Hakaanson visited the Bank’s headquarters in Abidjan on 14 September at the head of a delegation that…

African Development Bank Group (AfDB)

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    • Mozambique: African Development Fund approves $20 million to improve business environment and drive investments to climate-smart agriculture
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Source: African Development Bank Group (AfDB) |

Mozambique: African Development Fund approves $20 million to improve business environment and drive investments to climate-smart agriculture

This funding is the first of two successive geberal budget support operations for fiscal years 2023 and 2024, each worth about $20 million

The Board of Directors of the African Development Fund (https://apo-opa.info/42vfbFI), the African Development Bank Group’s (www.AfDB.org) concessional lending window, has approved a grant of $19.98 million to finance the implementation of Mozambique’s Economic Acceleration and Governance Support Programme. This funding is the first of two successive geberal budget support operations…

African Development Bank Group (AfDB)

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    • 7th Korea-Africa Economic Cooperation (KOAFEC) business forum
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Source: African Development Bank Group (AfDB) |

Adesina to Korean investors: Africa is the leading market frontier with huge untapped potential

Africa is not as risky as you hear - It is a continent of opportunities, waiting to be tapped

African Development Bank (www.AfDB.org) President Akinwumi Adesina has called on Korean investors to seize untapped investment opportunities in Africa, especially in the energy and agriculture sectors. “Africa is a continent that cannot be ignored by investors,” Adesina said at a business forum attended by CEOs of Korean corporations, heads of…

African Development Bank Group (AfDB)

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    • The African Development Fund supports Mozambique to develop the private sector and the management of public finances
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Source: African Development Bank Group (AfDB) |

Mozambique: African Development Fund grants over US$6 million to strengthen the private sector and the management of public finances

The project will help to streamline the administrative formalities imposed on businesses and investors and foster a more conducive environment for investment and business creation

The Board of Directors of the African Development Fund approved a grant of US$6.73 million to Mozambique in Abidjan on 13 September 2023 to support the implementation of the Institutional Support Project for Business Environment and Governance. The aim of the project is to increase resilience through institutional capacity building…

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

African Development Bank announces investor calls for inaugural USD Global Benchmark Sustainable Hybrid Capital transaction

The transaction will be issued in a Sustainable Bond format, under the Bank’s newly established Sustainable Bond Framework, and will finance a combined portfolio of eligible green and social projects

The African Development Bank (www.AfDB.org) announces upcoming investor calls and meetings in New York, London and Paris, ahead of an inaugural USD Global Benchmark Sustainable Hybrid Capital transaction. In July, S&P Global Ratings assigned an AA- rating to the proposed instrument - the highest rating for hybrid capital. The transaction…

African Development Bank Group (AfDB)

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    • Administrative authorities in the Central African Republic will benefit from financial support from the African Development Fund to improve their employees’ working methods
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Source: African Development Bank Group (AfDB) |

Central African Republic: African Development Fund provides US$5 million to support capacity building for public officials and improve the management of public finances

The support comes from Pillar 1 of the African Development Fund’s Transition Support Facility, the African Development Bank Group’s concessional financing window

The Board of Directors of the African Development Fund approved a donation of US$5.3 million to the Central African Republic in Abidjan on 6 September 2023 to contribute to the implementation of the Resource Mobilisation and Transparency of Development Policies Support Project. The support comes from Pillar 1 of the…

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    • Adesina at the Africa Youth Climate Assembly: “The biggest risk on the continent is not investing in the youth. The youth need investment, not empowerment”
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Source: African Development Bank Group (AfDB) |

Africa’s youth biggest asset for the continent and the world, say Kenya’s President Ruto and African Development Bank’s Adesina

Ruto and Adesina backed their demand for greater involvement in setting national and international climate policies

Hundreds of young people from across Africa are demanding a significant role in decision making for climate action. Youth leaders, entrepreneurs and policymakers presented the Africa Youth Climate Assembly Declaration to Kenya’s President, William Ruto, and African Development Bank Group President Dr Akinwumi Adesina. The Declaration, which was the culmination…