Source: African Development Bank Group (AfDB) |

G5 Sahel heads of State throw their weight behind African Development Bank initiative Desert to power

Bank commits $20 million towards project preparation for the realization of the project

G5 Sahel heads of state at a Summit on Friday in Ouagadougou, Burkina Faso, gave strong support to Desert to Power, an Africa Development Bank (https://www.AfDB.org/) -led initiative. The summit, "Harnessing solar energy for the socio-economic development of the G5 Sahel countries" came on the heels of a high-level technical…

Source: African Development Bank Group (AfDB) |

African Development Bank, Portugal and Cabo Verde sign compact to accelerate diversification, private sector development

It provides risk mitigation, investment products and technical assistance to accelerate private sector development in Lusophone African countries

The African Development Bank (www.AfDB.org) and the governments of Cabo Verde and Portugal have signed a country specific memorandum of understanding for the implementation of the Lusophone Compact, which aims to accelerate private sector development in Portuguese-speaking countries of Africa. The signing took place on Sal Island on 1 July,…

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

The African Development Fund improving and impacting lives of millions in Africa

In 38 of the continent’s neediest countries, the Fund is creating linkages to promote regional integration, commercial exchanges and enhancing food security

Established to provide concessional buffer to needy economies on the continent, the African Development Fund (ADF), is not only facilitating rapid rollout of development projects, but its investments continue to transform and sustain lives, beneficiaries say. In 38 of the continent’s neediest countries, the Fund is creating linkages to promote…

Source: African Development Bank Group (AfDB) |

African Development Bank welcomes EUR 40 million investment from the European Commission for the Facility for Energy Inclusion (FEI)

The announcement was made to energy sector stakeholders at a sideline event held during the Africa Energy Forum, which took place in Lisbon, Portugal

The African Development Bank (www.AfDB.org) announced a EUR 40 million investment from the European Commission for the Facility for Energy Inclusion (FEI), a new platform for financing small-scale renewables in Africa. The announcement was made to energy sector stakeholders at a sideline event held during the Africa Energy Forum, which took…

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

Despite challenges, Africa's debt is still under control says African Development Bank

In 2018, the Bank earned $214 million in allocable income, 48% of which has been reinvested in the institution to reinforce reserves and its business growth capacity

The African Development Bank (www.AfDB.org) remains strong with growing operating revenues and allocable income generated since 2010 reaching $2.5 billion, the Bank Group’s Treasurer, Hassatou Diop N'sele, stated on Thursday. In 2018, the Bank earned $214 million in allocable income, 48% of which has been reinvested in the institution to…

Source: African Development Bank Group (AfDB) |

Nigeria: African Development Bank approves $15 million investment package for Infrastructure Credit Guarantee Company

This intervention will promote local currency infrastructure financing, and further development of the domestic capital market

The Board of the African Development Bank (www.AfDB.org) has approved a $15-million investment package to Infrastructure Credit Guarantee Company (InfraCredit), to support infrastructure financing through the domestic debt capital markets in Nigeria. The investment package to InfraCredit is comprised of a subordinated loan of $10 million and a risk sharing…

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

The African Development Bank pledges US$ 25 billion to climate finance for 2020-2025, doubling its commitments

Akinwumi A. Adesina said that the Bank would commit at least US$25 billion towards climate finance

Bank to launch ‘Green Baseload’ Facility to provide concessional finance to support reliable and affordable renewable energy baseload; “Desert to Power” initiative enters implementation stage with Yeleen Project in Burkina Faso. The African Development Bank (www.AfDB.org) will double its climate finance commitments for the period 2020-2025, the Bank’s President announced…

Source: African Development Bank Group (AfDB) |

Curtain falls on Conference of the Parties (COP24) in Poland: African Development Bank more resolute than ever to fight against climate change in Africa

During the two weeks of the conference, the African Development Bank assumed its role as primary champion of African interests and a steadfast supporter of African negotiators

The curtain has fallen on COP24 (www.COP24afdb.org), this year’s global climate summit held in Katowice, Poland. However, negotiations continued throughout the weekend to reach agreement on specific parts of the 'rulebook' to be applied  from 2020 by the 197 signatories of the Paris Agreement (https://bit.ly/2S8gLZH), to limit global warming to…

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

Empower women to help save Africa from climate change

Africa must unlock the power of its women and girls if it is to adapt to climate change, cope with disasters and build its green energy sector

That is the message from African delegates as the world prepares to implement the Paris Agreement on climate change in Katowice, Poland, this week. Research shows that when women are involved in decision making, agreements on the environment are more likely to be ratified and projects around natural resources, such…

Source: African Development Bank Group (AfDB) |

Huge desert solar initiative to make Africa a renewables power-house

Solar projects stretching across the Sahel region are expected to connect 250m people with electricity by tapping into the region’s abundant solar resource

The details of the “Desert to Power Initiative” have been outlined as part of the Paris Agreement climate change talks at COP24 in Katowice, Poland this week. Energy poverty in Africa is estimated to cost the continent 2-4 % GDP annually, according to the African Development Bank (AfDB) (www.AfDB.org), which…