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African Development Bank Group (AfDB)

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    • Italy announces $6 billion plan to strengthen partnership with Africa at Italy-Africa Summit
    • L-R: Italian Prime Minister Georgia Meloni, Dr Akinwumi A. Adesina, president of the African Development Bank Group, and Italian Republic President Sergio Mattarella at Palazzo del Quirinale
    • African Development Bank Group President Dr Akinwumi Adesina (2nd right, 3rd row) joined 25 African leaders and European Union officials at the Italy-Africa Summit
    • African Development Bank Group President Dr Akinwumi Adesina (right) underscored Africa’s resilience, saying, “Africa will determine the future of the world”
    • The President of the European Commission, Ursula von der Leyen (standing), called for a united front “to build alternatives to the deadly smuggling routes”
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Source: African Development Bank Group (AfDB) |

Italy announces $6 billion plan to strengthen partnership with Africa at Italy-Africa Summit

They included an initial pledge of €5.5 billion (US$5.95 billion) including guarantees

The government of Italy unveiled a near US$6 billion plan to support African development at a one-day Italy-Africa plan in Rome on Monday. African Development Bank Group President Dr Akinwumi Adesina (www.AfDB.org) joined 25 African leaders and European Union officials at the summit. The summit—which took place as Italy assumes the Presidency…

African Development Bank Group (AfDB)

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    • Global Gateway: European Commission and African Development Bank Group unlock new funding for African infrastructure projects (1)
    • Global Gateway: European Commission and African Development Bank Group unlock new funding for African infrastructure projects (2)
    • Global Gateway: European Commission and African Development Bank Group unlock new funding for African infrastructure projects (3)
    • Global Gateway: European Commission and African Development Bank Group unlock new funding for African infrastructure projects (4)
    • Global Gateway: European Commission and African Development Bank Group unlock new funding for African infrastructure projects (5)
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Source: African Development Bank Group (AfDB) |

Global Gateway: European Commission and African Development Bank Group unlock new funding for African infrastructure projects

This agreement will enable a series of investments in Sub-Saharan Africa in strategic transport corridors, in energy and digital connectivity

On the sidelines of this week’s Italy-Africa Summit, the European Commission (EC) and the African Development Bank Group (www.AfDB.org) have formalised a new Financial Framework Partnership Agreement to boost investments in infrastructure projects in Africa. The European Union’s contribution to co-finance operations with the African Development Bank has significantly increased…

African Development Bank Group (AfDB)

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    • Conference of the Parties (COP28): Italy announces €5 Million contribution to Sustainable Energy Fund for Africa
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Source: African Development Bank Group (AfDB) |

Conference of the Parties (COP28): Italy announces €5 Million contribution to Sustainable Energy Fund for Africa

Italy's contribution aligns with the broader goals of COP28, particularly the objective of tripling the deployment of renewable energy

Italy has made a new commitment of €5 million to Africa's sustainable energy future through the Sustainable Energy Fund for Africa (SEFA) (https://apo-opa.co/46J7nRR) Special Fund. The Italian Deputy Minister of Environment and Energy Security, Vannia Gava, announced the new contribution on Monday during a side event at the 2023 United Nations…

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

Italy contributes EUR 5.5 million to African Development Bank Group’s Youth Entrepreneurship and Innovation Multi-Donor Trust Fund, to foster job opportunities, economic growth

The Trust Fund has also empowered more than 12,000 young entrepreneurs who have gone on to transform their business plans and contribute to economic growth

The African Development Bank (www.AfDB.org) has welcomed a contribution of EUR 5.5 million from Italy for its Youth Entrepreneurship and Innovation Multi-Donor Trust Fund. Italian officials announced the new financing during the Fund’s mid-year Oversight Committee Meeting held virtually on 26 June. They reaffirmed the country’s commitment to fostering youth entrepreneurship…

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…

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

African Development Bank approves $4 million grant to bolster South Sudan’s COVID-19 response

As of June 15, 2020, the country had reported 1,693 cases, 27 deaths and 49 recoveries

The Board of Directors of the African Development Bank (www.AfDB.org) on Wednesday approved a UA 3 million ($4.16 million) grant to South Sudan to support the emergency response to COVID-19 and strengthen the country’s fragile health system. The grant, from the Transitional Support Facility of the Bank Group’s African Development…

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

Somalia: African Development Bank’s intervention helps to curb COVID-19 in vulnerable communities

African Development Bank-financed water supply and sanitation project came in handy as a critical control intervention

With 2.6 million internally displaced persons in Somalia, the outbreak of COVID-19 poses an additional challenge in an already fragile situation, leaving the population highly vulnerable. Thankfully, the African Development Bank-financed (www.AfDB.org) water supply and sanitation project came in handy as a critical control intervention, although COVID-19 was not anticipated…

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

African Development Bank’s Sustainable Energy Fund for Africa (SEFA) converts to concessional finance facility

First established in 2012, SEFA is anchored in a commitment of $121 million by the Governments of Denmark, United States, United Kingdom, Italy, Norway and Spain

The African Development Bank’s (www.AfDB.org) Board of Governors has approved the conversion of the Bank-administered multi-donor trust fund SEFA into a “special fund”, to amplify its development impact by allowing it to access a wider range of financial instruments beyond the current scope of technical assistance. Currently, SEFA, the Sustainable…

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

Africa: Sports as a Business and a Brand – by Victor Oladokun

Fans are choosing not to watch live football events, and instead are opting in increasing numbers for the 'intimacy' of their crystal clear digital flat TV screens, or not all

By Dr. Victor Oladokun, is the Director of Communication and External Relations at the African Development Bank (www.AfDB.org) At the ongoing Africa Cup of Nations in Egypt, the visual imagery of  almost empty stadiums is a powerful narrative. But not the kind that African sports, African football, or corporate sponsors…

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

The African Development Bank pledges US$ 25 billion to climate finance for 2020-2025, doubling its commitments

Akinwumi A. Adesina said that the Bank would commit at least US$25 billion towards climate finance

Bank to launch ‘Green Baseload’ Facility to provide concessional finance to support reliable and affordable renewable energy baseload; “Desert to Power” initiative enters implementation stage with Yeleen Project in Burkina Faso. The African Development Bank (www.AfDB.org) will double its climate finance commitments for the period 2020-2025, the Bank’s President announced…