Source: African Development Bank Group (AfDB) |

Green banks and national climate funds have a key role in mobilizing funds for low-carbon, climate-resilient development in Africa: report

The ground-breaking study, released on Tuesday 23 March, is expected to underpin development of a multi-country climate finance initiative in Africa

The African Development Bank and the Climate Investment Funds [CIF (https://bit.ly/3vSPNtq)] have joined forces (https://bit.ly/2OQ4QU9) to produce a study of the role of green banks and national climate change funds in mobilizing finance to support low-carbon, climate-resilient development in Africa. The ground-breaking study (https://bit.ly/2OY4mv7), released on Tuesday 23 March, is…

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

Mozambique: African Development Bank purchases temporary bridges to replace infrastructure destroyed in cyclones

The bridges are funded under the Post Cyclone Idai and Kenneth Emergency Recovery and Resilience Program

The African Development Bank (www.AfDB.org) has finalized the purchase of 26 modular steel bridges to replace infrastructure that was destroyed in weather disasters in Mozambique. The modular bridges are due to be installed in coming months after the appointment of local contractors. The goal is to restore transport connections to…

Source: African Development Bank Group (AfDB) |

African Development Bank and Mozambique LNG Area 1 Project win Multilateral Deal of the Year Award for $24 billion global syndicated finance

The project will exploit Mozambique’s immense offshore natural gas reserves, which can potentially transform global energy markets

The Mozambique Liquefied Natural Gas (LNG) Area 1 Project and the African Development Bank (www.AfDB.org) have jointly received the prestigious Global Multilateral Deal of the Year 2020 award by the print and online publication Project Finance International (PFI). The project, the single largest foreign direct investment in Africa to date…

Source: African Development Bank Group (AfDB) |

African Development Bank Group Approves EUR400 million Lusophone Compact Guarantee program to boost private sector development

The new Compact offers a big boost to business development initiatives for the Bank’s non-sovereign portfolio in its Portuguese-speaking African member countries

The Board of Directors of the African Development Bank (www.AfDB.org) Group on Wednesday approved the Lusophone Compact Guarantee Program (LCGP or the Compact), with a maximum risk exposure of up to EUR400 million. The new Compact offers a big boost to business development initiatives for the Bank’s non-sovereign portfolio in…

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

25 young African agripreneurs advance to ‘boot camp’ in the African Development Bank’s $120,000 AgriPitch Competition

The final round offers young entrepreneurs in Africa’s agricultural sector the opportunity to pitch their agribusiness proposals online to a panel of experts and investors who will select the winners

Twenty-five young African agripreneurs have advanced to the “boot camp” final round of the African Development Bank’s (www.AfDB.org) AgriPitch competition, stepping closer to a share of $120,000 in seed funding prizes, training and other benefits. The final round offers young entrepreneurs in Africa’s agricultural sector the opportunity to pitch their…

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

Malawi: the Mzuzu-Nkhata Bay road now among the country’s safest roads, thanks to African Development Bank support

Bank financing of USD$30 million went into widening the road

A five-year project to rehabilitate the Mzuzu-Nkhata Bay road with African Development Bank (https://www.AfDB.org/) financing has made the road one of Malawi’s safest, according to the project’s completion report. The project, began in 2013, wrapped up in 2018.  The road was formerly very narrow and poorly maintained, and it required…

Source: African Development Bank Group (AfDB) |

African Development Bank Regional Economic Outlook 2020: COVID-19 response and economic diversification crucial to growth recovery in Southern Africa, the most affected region

Impact of COVID-19 in South Africa projected to affect rest of Southern African economies

Report recommends inclusive, broad-based and pro-poor policies to address inequality and reduce poverty rates; Impact of COVID-19 in South Africa projected to affect rest of Southern African economies. A higher level of preparedness is urgently needed to prevent and mitigate the COVID-19 pandemic in Southern Africa, including additional resources for…

Source: African Development Bank Group (AfDB) |

Malawi to receive $45.07 million for national COVID-19 emergency response from the African Development Bank

The budget support intervention, will help boost the Malawi National COVID-19 Preparedness and Response Plan

Malawi will receive $45.07 million to finance the government’s response to the health, social and economic impacts of the COVID-19 pandemic, following a decision by the Board of Directors of the African Development Fund (ADF) held Wednesday. The package comprises a loan of $24.48 million, and a grant of $20.59…

Source: African Development Bank Group (AfDB) |

African Development Fund approves UA100.4 million multi-country Covid-19 Response Support for Malawi, Madagascar, Mozambique and Sao Tome

The package will support the national actions of the four countries in mitigating the impact of COVID-19, with the overall objective of protecting lives and livelihoods

The Board of Directors of the African Development Fund (ADF) on Wednesday approved a UA100.4 million (about $138 million) crisis budget support package to four southern African countries – Malawi, Madagascar, Mozambique and São Tomé & Príncipe, in the wake of the COVID-19 pandemic. Under the package, known as the…

Source: African Development Bank Group (AfDB) |

African Development Bank set to join landmark $20 billion Mozambique LNG financing

The Bank joins a global syndicate of commercial banks, development finance institutions and export credit agencies to provide the requisite financing for the project

The African Development Bank (www.AfDB.org) has concluded its bid to co-finance the construction of Mozambique's integrated Liquefied Natural Gas (LNG) plant by signing a senior loan of $400 million for the transformational project. The Mozambique LNG Area 1 Project, estimated to cost over $20 billion, is ranked Africa's single largest…