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African Development Bank Group (AfDB)

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    • The African Development Bank approves a trade finance facility of EUR 70 million for Bank of Africa Morocco to promote trade in Africa
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Source: African Development Bank Group (AfDB) |

The African Development Bank approves a trade finance facility of EUR 70 million for Bank of Africa Morocco to promote trade in Africa

The aim of the cooperation is to strengthen countries’ diversification of production and competitiveness, raise additional tax revenues and create new job opportunities

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a trade finance facility of EUR 70 million for Bank of Africa Morocco (BOA). “The African Development Bank, which is rated AAA by the largest  rating agencies, is joining forces with the Bank of Africa Morocco to…

African Development Bank Group (AfDB)

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    • Water for the future: Tangiers takes steps to secure its blue gold (1)
    • Water for the future: Tangiers takes steps to secure its blue gold (2)
    • Water for the future: Tangiers takes steps to secure its blue gold (3)
    • Water for the future: Tangiers takes steps to secure its blue gold (4)
    • Water for the future: Tangiers takes steps to secure its blue gold (5)
    • Water for the future: Tangiers takes steps to secure its blue gold (6)
    • Water for the future: Tangiers takes steps to secure its blue gold (7)
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Source: African Development Bank Group (AfDB) |

Water for the future: Tangiers takes steps to secure its blue gold

Overlooking the Strait of Gibraltar at the northern tip of Morocco, Tangiers is a cosmopolitan place and gateway to the great continent of Africa

The white city of Tangiers wakes gently at daybreak. Schoolchildren mill up and down the main streets of the old town, the medina, crossing paths with the crowd heading to offices and a few morning tourists. Overlooking the Strait of Gibraltar at the northern tip of Morocco, Tangiers is a…

African Development Bank Group (AfDB)

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    • Morocco: Maison Malake – the social cooperative revolutionizing cashew nuts (1)
    • Morocco: Maison Malake – the social cooperative revolutionizing cashew nuts (2)
    • Morocco: Maison Malake – the social cooperative revolutionizing cashew nuts (3)
    • Morocco: Maison Malake – the social cooperative revolutionizing cashew nuts (4)
    • Morocco: Maison Malake – the social cooperative revolutionizing cashew nuts (5)
    • Morocco: Maison Malake – the social cooperative revolutionizing cashew nuts (6)
    • Morocco: Maison Malake – the social cooperative revolutionizing cashew nuts (7)
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Source: African Development Bank Group (AfDB) |

Morocco: Maison Malake – the social cooperative revolutionizing cashew nuts

The cooperative aims to protect and develop ecosystems, while striving for innovation

As night falls over Marrakech’s medina, wrought-iron lanterns illuminate the narrow streets of the souk. The air is filled with scents of saffron and mint, and the metallic clang of the water carriers’ cymbals punctuates the buzz from the maze of alleyways. It is to this UNESCO World Heritage site…

African Development Bank Group (AfDB)

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    • Representatives of the African Development Bank and the FEC at the signing of the financing agreement
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Source: African Development Bank Group (AfDB) |

Morocco: The African Development Bank and the Fonds d’équipement communal sign a loan agreement of EUR 100 million to fund sustainable development projects and strengthen the attractiveness of various territories

The aim of the operation is to improve public services, particularly in rural areas, and support the emergence of new economic activities, investment opportunities and employment opportunities

The African Development Bank (https://www.AfDB.org/) signed a loan agreement of EUR 100 million with the Fonds d’équipement communal (FEC) in Rabat, on Friday, March 15, to fund new investment and sustainable infrastructure projects backed by territorial communities. The aim of the operation is to improve public services, particularly in rural…

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    • Representatives of the African Development Bank, OCP Group and Canada at the signing of the three financing agreements
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Source: African Development Bank Group (AfDB) |

African Development Bank and OCP Group provide $188 million for green investment in Morocco

$150 million from the African Development Bank, $18 million from the Canada – African Development Bank Climate Fund and $20 million from the Clean Technology Fund

The African Development Bank (www.AfDB.org) and the OCP Group signed three loan agreements in Rabat totalling $188 million to help fund the OCP Group’s Green Investment Program supplying clean drinking water to the towns around three new desalinisation plants. The construction of the new modular seawater desalination plants will be funded…

African Development Bank Group (AfDB)

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    • Africa must tackle huge infrastructure gap to unlock opportunities for transformation – Report
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Source: African Development Bank Group (AfDB) |

Africa must tackle huge infrastructure gap to unlock opportunities for transformation – Report

Dr Adesina suggested five priority areas to fully optimize the benefits of the developing regional corridors across Africa

Africa’s significant road infrastructure deficit creates increased production and transaction costs that must be addressed to scale opportunities envisaged under the Africa Continental Free Trade Area, a new report has found. The report, called Cross-Border Road Corridors Expanding Market Access in Africa and Nurturing Continental Integration notes that while roads…

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    • AfDB President Akinwumi Adesina (2nd from right) with Jamie Cooper (centre) and mayors from across Africa Marrakech, Morocco, November 9, 2023
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Source: African Development Bank Group (AfDB) |

African Development Bank, leaders commit to catalyse investment in cities as engines of the continent’s economic growth

It is estimated that African countries will need to invest about 5.5% of their annual GDP in their cities, approximately $140 billion per year

African Development Bank President Akinwumi Adesina (www.AfDB.org) on Thursday pledged greater commitment to the development of cities and stressed the need for increased investment and autonomy for municipalities, the continent’s engine for economic growth. The Bank chief spoke at a high-level forum for mayors titled: “Leveraging Cities and Municipalities for…

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    • From left: Dr. Victor Oladokun, Stakeholder Engagement Adviser to the President, African Development Bank; Professor Oyebanji Oyelaran-Oyeyinka, Senior Special Advisor to the President, African Development Bank Group; Prof. Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank; Eng. Hani Sonbol, CEO of International Islamic Trade Finance Corporation (ITFC) and acting CEO of Islamic Corporation for the Development of the Private Sector (ICD); Dr. Beth Dunford, African Development Bank Vice President for Agriculture, Human and Social Development; Gagan Gupta, CEO, Arise IIP; Gunther Beger, Managing Director of the Directorate for Sustainable Development Goals, Innovation and Economic Transformation, UNIDO (1)
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Source: African Development Bank Group (AfDB) |

New Alliance for Special Agro-Industrial Processing Zones commits $3 bn investment to boost African agriculture and food production

The Alliance will raise funds through various investment windows for project preparation, project development and construction, and financing for tenant companies

The African Development Bank Group (www.AfDB.org), Afreximbank, Arise Integrated Industrial Platforms, the Islamic Development Bank Group and the United Nations Industrial Development Organization launched at the 2023 Africa Investment Forum Market Days a new private sector-focused Alliance to bridge the critical financing gap in agriculture. Founding members of a new…

African Development Bank Group (AfDB)

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    • From left to right, 1st row: Boitumelo Mosako, CEO, Development Bank of Southern Africa; Olusegun Obasanjo, former President of Nigeria; Jean-Jacques Bouya, Congo’s Minister of Spatial Planning and Major Projects; Julius Maada Bio, President of Sierra Leone; African Development Bank President Akinwumi Adesina and his wife Grace; Omar Kabbaj, adviser to King Mohammed VI; Azali Assoumani, President of the Union of Comoros and Chairperson of the African Union; Samia Suluhu Hassan, President of Tanzania; Édouard Ngirente, Prime Minister of Rwanda; Chinelo Anohu, Senior Director, Africa Investment Forum. 2nd row, from 2nd left: Roger Stuart, European Investment Bank; Benedict Oramah, President, Afreximbank; Nadia Fettah Alaoui, Morocco’s Minister of Economy and Finance; Hani Salem Sonbol CEO, International Islamic Trade Finance Corporation (IsDB Group).
    • Omar Kabbaj delivering King Mohammed VI’s message to Africa Investment Forum participants.
    • The continent is not as risky as perceived—Akinwumi Adesina
    • “There are enormous opportunities for the development of value chains in Africa”—Azali Assoumani
    • “We need to invest in the continent’s connectivity”—Samia Suluhu Hassan
    • “How we turn obstacles into opportunities is the most important thing”—Julius Maada Bio
    • There is scope for African and Caribbean people to partner in a range of spheres including pharmaceutical development and tourism—Mia Mottley
    • “We need action now”—Édouard Ngirente
    • Africa needs bold Innovative Initiatives to Unleash the Full Potential of the Continent—King Mohammed VI of Morocco
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Source: African Development Bank Group (AfDB) |

Africa needs bold Innovative Initiatives to Unleash the Full Potential of the Continent—King Mohammed VI of Morocco

The Market Days, an initiative of the African Development Bank and seven other co-founding partners, is taking place in Marrakech, Morocco over the next three days

Morocco’s King Mohammed VI opened the 2023 Africa Investment Forum Market Days on Wednesday with a call for Africans to work together to attract the levels of private investment needed to drive the continent’s inclusive development. The Market Days, an initiative of the African Development Bank and seven other co-founding partners,…

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

Canada – African Development Bank Climate Fund approves $36.3 million in support to climate adaptation on the continent

In Benin, CACF will support the design of climate-proofing measures and best practices in port operations that mitigate the imminent climate change risks associated with temperature and sea level rises and droughts

The Canada–African Development Bank Climate Fund (CACF), established to support gender-affirmative climate change projects in Africa, has approved $36.3 million to two private sector operations to advance climate adaptation in the African continent. The amount, in the form of concessional loans to the private sector companies, comprises $18.3 million approved…