Source: African Development Bank Group (AfDB) |

Supporting Public Private Partnerships in Africa: African Development Bank ready to scale up

The African Development Bank estimates Africa’s infrastructure financing needs at up to $170 billion a year by 2025

Representatives of the African Development Bank (www.AfDB.org), governments, Development Finance Institutions, the private sector and  professional associations joined a September 8 workshop to discuss how the Bank can strengthen support for Public Private Partnerships and channel greater investment toward economic and social infrastructure. The event, titled Designing the African Development…

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

Infrastructure Fund Africa50 helps Egypt’s Solar Power Sector take off

Africa50 is an independent infrastructure fund, focused on high-impact projects mostly in the energy and transport sectors

A 37-square-kilometer solar park so large that it can be seen from space, with over seven million photovoltaic panels, and funding of $4 billion. In Africa? Impossible? Not anymore. Thirty international infrastructure developers got behind this project, investing in Egypt’s massive Benban solar park, which will be the largest in…

Source: African Development Bank Group (AfDB) |

Egypt: African Development Bank approves 225 million euros budget support loan for electricity sector to bolster economic resilience and sustainability amid COVID-19

The funding, provided in a challenging global context, will help meet the Government of Egypt’s financing requirements in the light of the COVID-19 pandemic

The Board of Directors of the African Development Bank (https://www.AfDB.org/) on Wednesday approved a 225 million euros loan to finance Egypt’s Electricity and Green Growth Support Program (EGGSP). The funding, provided in a challenging global context, will help meet the Government of Egypt’s financing requirements in the light of the…

Source: African Development Bank Group (AfDB) |

African Development Bank COVID-19 response: moving from commitment to action

As of June 12, the Bank’s COVID-19 emergency packages have reached the continent’s five geographic regions

The African Development Bank (https://www.AfDB.org) has responded swiftly to the needs of its member countries during the ongoing COVID-19 pandemic. The Bank’s operations have continued to run smoothly since the first cases appeared in early March, despite the wide range of lockdowns and measures imposed by governments to flatten the…

Source: African Development Bank Group (AfDB) |

Egypt: African Development Bank approves emergency relief aid to tackle food insecurity for vulnerable workers whose livelihoods are impacted by COVID-19

Egypt is the one of Africa’s hardest hit countries, with 17,900 confirmed cases to date

The Board of Directors of the African Development Bank (www.AfDB.org) on 25 May, 2020 approved a $500,000 emergency assistance grant to Egypt to provide food relief, and to contribute to restoring the livelihoods of vulnerable populations severely affected by COVID 19. The intervention will seek to complement ongoing activities by…

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

African Development Bank appoints Nourredine Lafhel Acting Chief Risk Officer

An experienced risk management professional, Nourredine has more than twenty (20) years of experience in finance and risk management

The African Development Bank Group (www.AfDB.org) is pleased to announce the appointment of Mr. Nourredine Lafhel as Acting Chief Risk Officer, effective 6th April 2020. Lafhel, a Canadian national, is currently the Sovereign Credit and Market Risk Division Manager (PGRF3), in the Directorate of the Group Risk Management Function of the African Development Bank Group. An…

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

“You have been in the trenches with us,” Ghana Vice President Mahamudu Bawumia tells African Development Bank

Ghana is looking to the Bank for investment in an integrated aluminium industry, using the country’s large bauxite deposit as raw materials

The African Development Bank’s (www.AfDB.org) support for the west African nation Ghana has boosted its government’s efforts to consolidate the economy, the country’s Vice President, Mahamudu Bawumia said on Monday. Bawumia, welcoming a team of Executive Directors and senior officials of the Bank on an official visit, cited various Bank-supported…

Source: African Development Bank Group (AfDB) |

“Our goal is to surpass developed countries,” African Development Bank VP tells fourth industrial revolution forum

The event attracted Ivorian and regional ministers as well as officials, senior Bank staff and private sector executives

Africa is not only ready for the fourth industrial revolution. It is set to outdo the achievements of the developed world. That was one of the messages that emerged at a seminar hosted by the African Development Bank (AfDB.org) at its headquarters in Abidjan. The event attracted Ivorian and regional…

Source: African Development Bank Group (AfDB) |

African Development Bank Director Hanan Morsy named one of Egypt’s 50 most influential women

Dr Hala El Said, Egypt’s Minister of Planning and Economic Development, gave the award on 5 February in a ceremony organized under auspices of the Egyptian Prime Minister

The Director of Macroeconomic Policy, Forecasting and Research at the African Development Bank (https://www.AfDB.org/), Dr Hanan Morsy, has been named one of Egypt’s 50 most influential women. Dr Hala El Said, Egypt’s Minister of Planning and Economic Development, gave the award on 5 February in a ceremony organized under auspices…

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

African Economic Outlook 2020: Africa’s economy forecast to grow despite external shocks

The slower than expected growth is partly due to the moderate expansion of the continent’s “big five” — Algeria, Egypt, Morocco, Nigeria, and South Africa

For the first time in a decade, investment expenditure rather than consumption accounts for more than half of GDP growth; report calls for urgent investment in education and infrastructure for good returns in long-term GDP; “Youth unemployment must be given top priority. With 12 million graduates entering the labor market…