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

Keynote Speech delivered by Dr. Akinwumi A. Adesina at the UK-Africa Investment Summit, “Sustainable Infrastructure Forum”

The Department for International Development (DFID) is a key strategic partner of the African Development Bank

By Dr. Akinwumi A. Adesina Good morning everyone! It’s a pleasure to join you at this special side event organized as part of the UK-Africa Investment Summit. Let me congratulate the organizers, the Department for International Development (DFID) and Her Majesty’s Trade Commissioner for Africa for hosting us today. The…

African Development Bank Group (AfDB)
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…

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

African Development Bank approves €8 million technical assistance grant to support preparation of Ruzizi IV Hydro Power Project in the Great Lakes region

The project will provide electricity to millions of households, as well as small and medium-sized enterprises and industries, thereby improving the living conditions of the regional population

The Board of Directors of African Development Bank Group (https://www.AfDB.org) has approved an €8 million grant drawn from the European Union’s Africa Investment Platform (EU-AIP) to support the preparation of the Ruzizi IV Hydropower Project. The plant will be situated on the Ruzizi River between Rwanda and the Democratic Republic…

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

African Development Bank sponsored Off-Grid Energy Access Fund reaches final equity close with partner contributions

The African Development Bank is the fund’s anchor sponsor with a $30 million contribution, and $8.5 million from the Global Environment Facility (GEF)

The Facility for Energy Inclusion’s Off-Grid Energy Access Fund (FEI OGEF) has reached a final equity close with $59 million in committed equity capital and $36 million debt facilities, to support innovative, off-grid energy access companies. The final close, reached on 18 November 2019, was made possible through a $15…

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

Sudan: African Development Bank approves $21.783 million grant for roll out of solar-powered irrigation

The project meets the Sudanese government’s renewable energy and poverty reduction objectives as well as the Bank’s High Five and Energy Sector Policy

The African Development Bank’s Board of Directors (AfDB.org) has approved a grant to the government of Sudan to accelerate the adoption of solar-powered irrigation pumps in the country’s West Kordofan and North Kordofan states. The project will enable farmers’ adoption of renewable energy technology through the installation of 1,170 photovoltaic…

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

Burundi: African Development Bank’s Sustainable Energy Fund for Africa (SEFA) grants $1 million to support innovative solar-hydro hybrid project

The innovative hybrid design is anticipated to regularize the power output during dry and wet season and mitigate power shortfalls caused by climate change

The African Development Bank-managed Sustainable Energy Fund for Africa (SEFA) (https://bit.ly/2tk3Zjd) has approved a $990,000 grant to support the preparation of a 9-MW solar-hydro hybrid project in Burundi (https://bit.ly/2EnEK1M). The project consists of two plants, each featuring a solar and a hydro component as well as a local distribution network…

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

Madagascar: African Development Bank Approves Guarantee of $100 Million to Hydro-Power Project, to Benefit Over 2 Million People

Upon completion, the project will generate 1,570 GWh of renewable power annually

The Board of Directors of the African Development Bank (https://www.AfDB.org/) has approved a Partial Risk Guarantee (PRG) of $100 million to support the Sahofika hydro-power project in Madagascar, which will add 205 MW of renewable energy generation capacity to the national grid, benefitting over 2 million people. The Bank’s support…

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

2019 UN climate change conference (COP25): African Development Bank urges African nations to persist with climate change ambitions as marathon talks end in Madrid

The Bank will also continue to drive initiatives to strengthen the ability of regional member countries to advocate robustly at global forums such as COP 25

The African Development Bank (www.AfDB.org) has urged the continent’s nations to stay the course on climate action, after a marathon session of talks at the twenty-fifth Conference of Parties to the United Nations Framework Convention on Climate Change (COP 25) in Madrid. The conference was scheduled to run from 2…

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

African Development Bank and partners inaugurate Shango power substation in Rwanda to facilitate access to the regional electricity market

The Bank’s support to the energy sector has more than doubled over the past three years to the current level of 410.66 million euros

The African Development Bank (AfDB.org), Embassy of Germany in Rwanda and the KfW Development Bank joined the Government of Rwanda to inaugurate the high voltage 188 MVA Shango power substation in the capital Kigali and its related transmission network. The substation is part of the NELSAP Regional Interconnection Project involving…

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

African Development Fund (ADF-15) replenishment: Donors commit $7.6 billion, a 32% boost from last replenishment, in support of Africa’s low-income, fragile, countries

The Fund comprises 32 contributing states and benefits 37 countries

Donors of the African Development Fund (ADF) on Thursday agreed to commit $7.6 billion to speed up growth in Africa’s poorest nations and help lift millions out of poverty. This fifteenth replenishment of the ADF (ADF-15), up 32% from the previous cycle, sends a strong signal of trust in the…