African Development Bank Group (AfDB)
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    • African Development Bank Director General for Central Africa, Serge N'Guessan (left), and Cameroon's Minister of the Economy, Planning and Regional Development, Alamine Ousman Mey, shake hands at the loan signing ceremony
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Source: African Development Bank Group (AfDB) |

Cameroon: New African Development Bank Funds to Develop the Port Sector and Sustainable Urban Sanitation

The African Development Bank's Director General for Central Africa, Serge N'Guessan, and Alamine Ousman Mey, Cameroon's Minister of the Economy, Planning and Regional Development signed the loan agreements for both projects

The African Development Bank Group (www.AfDB.org) has provided new funding for two ongoing major projects in Cameroon: the Develop Access Roads to the Industrial and Port Area of Kribi Project (PARZIK) (https://bit.ly/3E0Ijex) and the Yaoundé City Sustainable Enhanced Drainage and Sanitation Project (PCADY) (https://bit.ly/3E0Is1z). The African Development Bank's Director General…

African Development Bank Group (AfDB)
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    • African Development Bank Group President Dr. Akinwumi Adesina (L) and Cabo Verde PM José Ulisses de Pina Correia e Silva inaugurate the modernized port of Maio on September 7
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Source: African Development Bank Group (AfDB) |

Upgraded Maio Port to transform economy, boost trade in Cabo Verde

The modernization of the Ports of Maio and Palmeira cost €36 million, with the African Development Bank providing €17.87 million

African Development Bank (www.AfDB.org) President Dr. Akinwumi A. Adesina on Wednesday inaugurated the upgraded Port of Maio in Cabo Verde, which will help reduce sea travel time to the capital Praia, and boost trade. The modernization of the Ports of Maio and Palmeira cost €36 million, with the African Development…

Source: African Development Bank Group (AfDB) |

Mozambique conference calls for revival of fishing communities

Mozambique has the third-longest coastline in Africa, with enormous coastal resources that contribute significantly to the economy

African leaders and policymakers have called for strategies to harness the potential of the blue economy to achieve sustainable development. The call came at a high-level conference hosted by the Government of Mozambique on 18 and 19 November in the City of Vilanculos. The theme was Investing in Ocean Health…

Source: African Development Bank Group (AfDB) |

Mauritius: African Development Bank approves emergency relief to boost clean-up of marine oil spill

Funding, to be sourced from the Special Relief Fund, will complement ongoing activities by the government of Mauritius, development partners, and other actors

The Board of Directors of the African Development Bank (www.AfDB.org) on Wednesday approved a $500,000 emergency assistance grant to support international recovery efforts after a significant oil spill earlier this year off the coast of Mauritius. The funding, to be sourced from the Special Relief Fund, will complement ongoing activities…

Source: African Development Bank Group (AfDB) |

Mitigating COVID-19’s impact on Africa’s food systems (By Atsuko Toda and Martin Fregene)

The global spread of COVID-19 and the rising number of coronavirus cases in Africa are fueling anxiety about negative economic growth, failing healthcare and collapsing food systems

By Atsuko Toda and Martin Fregene We are facing great uncertainty on the African continent. The global spread of COVID-19 and the rising number of coronavirus cases in Africa are fueling anxiety about negative economic growth, failing healthcare and collapsing food systems. We are already grappling with a locust outbreak…

Source: African Development Bank Group (AfDB) |

British Prime Minister, African Leaders urge Investors to accelerate Economic Role on the Continent

The UK-Africa Investment Summit, the first of its kind hosted by the UK Government, was attended by the foreign secretary, Dominic Raab, the international development secretary, Alok Sharma, and Prince Harry

UK companies must leap at the chance to deepen economic ties with Africa, a continent with unmatched investment opportunities, several African leaders said at a high-level panel. At an oversubscribed opening ceremony for the 2020 UK-Africa Investment Summit, Monday, attended by dignitaries and delegates from 16 African countries, including President…

Source: African Development Bank Group (AfDB) |

Horn of Africa countries launch regional initiative as peace dividend beckons, $15 billion investment on the cards

The initiative was formalized on 18 October, on the sidelines of the World Bank Group/International Monetary Fund (IMF) Annual Meetings in Washington DC

Five Horn of Africa countries have launched an initiative to forge closer economic ties, building on the improving political climate in the sub-region. The initiative was formalized on 18 October, on the sidelines of the World Bank Group/IMF Annual Meetings in Washington DC. The countries agreed on priority projects and…

Source: African Development Bank Group (AfDB) |

Malawi: The African Development Bank approves $13.2 million for sustainable fisheries, aquaculture development and watershed management

The project is expected to directly benefit 20,000 residents around the surrounding lakeshore and inland areas

The African Development Bank Group (www.AfDB.org) has approved a $13.2 million financing package from the African Development Fund for a fisheries and aquaculture development project in Malawi. The Sustainable Fisheries, Aquaculture Development, and Watershed Management project will provide infrastructure for increased fisheries productivity and market access. Board approval for the…

Source: African Development Bank Group (AfDB) |

African Development Bank boosts Cameroon livestock and fish farming with €84 million loan

The loan, approved by the Bank’s Board on Wednesday, will support the modernization of beef, pork and fish production, with significant improvements to food and nutrition in the country

The African Development Bank Group (www.AfDB.org) has extended a loan of €84 million to Cameroon to support livestock and fish production in the central African country in line with the Bank’s strategies to create jobs and raise household incomes. The loan, approved by the Bank’s Board on Wednesday, will support…