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African Development Bank Group (AfDB)

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    • African Development Fund approves $16 million for Youth Entrepreneurship Investment Bank in Liberia
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Source: African Development Bank Group (AfDB) |

African Development Fund approves $16 million for Youth Entrepreneurship Investment Bank in Liberia

The Youth Entrepreneurship Investment Bank is anticipated to support over 30,000 youth-led businesses during the next 17 years

In an exciting move to unleash the business potential of young Liberians, the Board of Directors of the African Development Fund (ADF) has given the green light for the creation of a Youth Entrepreneurship Investment Bank (YEIB) in the West African country. Approximately $16 million has been allocated to finance…

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

African Development Bank and Government of Liberia discuss major road project

Liberia’s government was represented by the Minister for Finance and Development Planning, Hon. Samuel D. Tweah, Jr., and Hon. Ruth Coker-Collins, Minister of Public Works

A delegation from the African Development Bank Group (www.AfDB.org) recently met senior government officials in Monrovia to discuss the Government of Liberia’s request for financing of a major highway along the country’s coastline.   The proposed 444-kilometre coastal highway, from Bassa County to Grand Kru County, is expected to deliver…

African Development Bank Group (AfDB)

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    • L-R: AfDB Executive Director Rufus Darkortey; Seedy Keita, Finance Minister and AfDB Governor for The Gambia; Mohammed Amin Adam, Minister of State, Ministry of Finance and Economic Planning, Ghana; Augustus Flomo, Deputy Minister for Economic Management, Liberia; Bockarie Kalokoh, Deputy Minister of Finance, Sierra Leone; and Muhammad Bashar Muhammad, Undersecretary of Economic Planning, Sudan
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Source: African Development Bank Group (AfDB) |

Five African Development Bank (AfDB) regional member countries set to join African Development Fund replenishment

The Gambia, Ghana, Liberia, Sierra Leone and Sudan plan to contribute $1 million each to ADF’s next replenishment cycle

Five African Development Bank (www.AfDB.org) Governors have signed an agreement committing to contribute at least $1 million to the replenishment of the African Development Fund (ADF), the concessional window of the Bank Group. Under the self-initiated agreement, the five-member constituency—The Gambia, Ghana, Liberia, Sierra Leone, and Sudan—will contribute to the…

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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)
Source: African Development Bank Group (AfDB) |

Liberia: African Development Fund grant to modernise payments infrastructure and systems

The project’s primary objective is to strengthen the payments ecosystem in Liberia for increased efficiency and to foster growth and innovation

The African Development Fund’s Board of Directors has approved $3.9 million grant to finance upgrade of Liberia's payments infrastructure and systems project. The approval of the grant from the Bank’s concessional lending window, was made on 17 March. The project’s primary objective is to strengthen the payments ecosystem in Liberia…

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    • A new AfDB report proposes solutions, including expanded access to finance, to support the livelihoods of Liberia’s small-scale and artisanal miners
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Source: African Development Bank Group (AfDB) |

Liberia: New African Development Bank study outlines steps to draw artisanal and small-scale miners into formal sector, boosting economy

The study draws on broad-based stakeholder consultations and a robust review and analysis of Liberia’s financial ecosystems

Expanding financial access for Liberia’s artisanal and small-scale mining sub-sector is feasible through formalization and de-risking measures, according to a recent study published by the African Development Bank (www.AfDB.org) and the Liberian government. According to the report, potential solutions to support the livelihoods of small-scale miners include setting up enabling…

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    • Government representatives and experts from the Bank and the Mano River Union, joined by women traders to launch the BI-BEST project
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Source: African Development Bank Group (AfDB) |

Mano River Union launches scheme to build inclusive business ecosystems (By Charleine MBUYI LUSAMBA & Hoda Tarek)

Sierra Leone’s Minister of Gender and Children's Affairs, Manty Tarawalli, commended the African Development Bank for what she said was a “well-thought” initiative to support women’s economic empowerment

By Charleine MBUYI LUSAMBA, Task Manager & Hoda Tarek, Gender and Development Expert On 21 October 2022, the African Development Bank and the Mano River Union Secretariat hosted an event to launch the Project to Build Inclusive Business Ecosystems for Stabilization and Transformation in the Mano River Union (BI-BEST) in Freetown,…

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

Liberia: African Development Bank Group approves $5.12 million financing for Emergency Food Production Program

The funding includes a grant of $2.28 million and a loan of $2.84 million from the Bank Group’s Transition Support Facility

The Board of directors of the African Development Bank Group (www.AfDB.org) has approved financing for the Emergency Food Production Program in Liberia (http://bit.ly/3gu1AM3). This paves the way for the government to support farmers as they increase climate resilient food production and mitigate the impact of the ongoing war in Ukraine. The funding…

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    • African Development Bank New Series of African Country Gender Profiles Show Progress in Addressing Gender Discriminatory Law
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Source: African Development Bank Group (AfDB) |

African Development Bank New Series of African Country Gender Profiles Show Progress in Addressing Gender Discriminatory Law

The Bank’s country gender profiles evaluate gender equality and offer recommendations to drive parity across a range of metrics

New reports the African Development Bank (www.AfDB.org) has produced on Benin, Djibouti, Somalia, Zimbabwe and Liberia show the countries have successfully put national policies in place to advance gender equality. At the same time, the Covid-19 pandemic has sharpened the challenges women face.    Prepared in collaboration with the countries…

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    • Map showing the Mano River Union region: Improving road infrastructure and promoting intra-community trade will help boost the post-conflict recovery in the Mano River Union area
    • In the past five years, the African Development Bank Group has provided over 69 million people with improved transport – picture: Moyale-Mombasa Road
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Source: African Development Bank Group (AfDB) |

The Mano River Union: African Development Fund commits $88.2 Million for Road Development and Transport Facilitation in Liberia and Sierra Leone

The Mano River Union is an international association initially established between Liberia and Sierra Leone in 1973 under the Mano River Declaration

The Board of Directors of the African Development Fund,  the concessional window of the African Development Bank Group (www.AfDB.org), on Wednesday approved $88.2 million in financing for the third phase of the Road Development and Transport Facilitation Programme for the Mano River Union (https://bit.ly/3iuTBvh). The Mano River Union is an international…