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African Development Bank Group (AfDB)

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    • African Development Bank Approves $500 Million Strategy to Drive Inclusive Growth and Economic Resilience in Sierra Leone
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Source: African Development Bank Group (AfDB) |

African Development Bank Approves $500 Million Strategy to Drive Inclusive Growth and Economic Resilience in Sierra Leone

The Five-Year Country Strategy Paper targets infrastructure development and agricultural transformation to accelerate the path to middle-income economy

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a new Country Strategy Paper (CSP) for Sierra Leone for 2025–2030, committing approximately $500 million over the next five years to foster sustainable economic growth, strengthen resilience to fragility, and promote inclusive development.   The strategy is built…

African Development Bank Group (AfDB)

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    • African Development Bank President pledges deeper cooperation with key constituency
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Source: African Development Bank Group (AfDB) |

African Development Bank President pledges deeper cooperation with key constituency

Ministers of Gambia, Ghana, Liberia, Sierra Leone and Sudan pledge early support for ADF-17, signalling Africa's growing ownership of its own development

African Development Bank Group (www.AfDB.org) President Sidi Ould Tah met with the finance ministers of The Gambia, Ghana, Liberia, Sierra Leone and Sudan this week, reaffirming the Bank's partnership with the constituency and pledging to deepen cooperation on economic transformation and resilience. The talks, held on the sidelines of the…

African Development Bank Group (AfDB)

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    • Sierra Leone and African Development Bank Target $90 Billion in Annual Illicit Financial Flows
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Source: African Development Bank Group (AfDB) |

Sierra Leone and African Development Bank Target $90 Billion in Annual Illicit Financial Flows

The workshop sessions focused on identifying illicit financial flows, managing resource-backed lending, and developing transparent governance mechanisms

A four-day high-level seminar concluded last week with concrete recommendations to combat the estimated $90 billion that Africa loses annually to illicit financial flows, as the African Development Bank Group (www.AfDB.org) and Sierra Leone Government intensify efforts to strengthen natural resource governance. More than 70 stakeholders from government, civil society,…

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

African Development Bank’s Climate Action Window channels $31m to boost climate resilience in four countries

The Climate Action Window of the Bank Group’s African Development Fund seeks to mobilize $4 billion by 2025 to provide rapid and coherent access to climate finance

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved over $31 million in funding under its African Climate Action Window (CAW) to strengthen climate resilience in Sierra Leone, South Sudan, Djibouti, and Madagascar. The Climate Action Window of the Bank Group’s African Development Fund seeks to…

African Development Bank Group (AfDB)

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    • A new renewable energy platform supported by the African Development Bank and partners will serve nearly 70,000 households
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Source: African Development Bank Group (AfDB) |

African Development Bank, PowerGen, and Partners Launch Transformative Renewable Energy Platform to Scale Clean Energy Access Across the Continent

With funding secured, PowerGen is well-positioned to serve the energy needs of more than 68,000 households and reduce the cost of power for 7,000 businesses

PowerGen Renewable Energy (PowerGen) has partnered with leading international investors to establish a scalable, distributed renewable energy platform targeting the deployment of 120 MW of renewable power, including battery energy storage solutions across Africa. The platform is a collaboration between PowerGen and the Private Infrastructure Development Group (PIDG), the Danish…

African Development Bank Group (AfDB)

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    • Dr Akinwumi Adesina (left) and President Samia Suhulu Hassan of Tanzania discuss bold measures to feed Africa during the World Food Prize Norman E Borlaug Dialogue. Iowa, October 2024
    • Tanzania marks record agricultural achievement as African Development Bank President Adesina urges investment in Africa
    • Dr Akinwumi Adesina, the President of the African Development Bank Group
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Source: African Development Bank Group (AfDB) |

Tanzania marks record agricultural achievement as African Development Bank President Adesina urges investment in Africa

Each youth is given 10 acres of land and is supported by training, already 11,000 have benefitted and this year’s harvest has begun

Tanzania achieves 128% food self-sufficiency, one of continent’s two successful cashew nut processors If you are not investing in Africa, what are you doing? – Akinwumi Adesina Tanzania is setting new benchmarks in food self-sufficiency across Africa, raising hope that the fight against hunger and malnutrition on the continent is…

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    • The "Job Creation for Youth and Women in Climate Smart Agriculture Value Chains and Waste Management” project targets value chains where the youth and women are more active, such as cassava and fisheries
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Source: African Development Bank Group (AfDB) |

Sierra Leone: African Development Fund approves $20 million grant for youth and women jobs

The grant, part of the Transition Support Facility’s Pillar 1, aims to tackle the root causes of fragility and insecurity in Sierra Leone

The Board of Directors of the African Development Fund, the concessional window of the African Development Bank Group (www.AfDB.org), approved a $19.95 million grant for an initiative to provide livelihood for Sierra Leone’s women and youth. The "Job Creation for Youth and Women in Climate Smart Agriculture Value Chains and…

African Development Bank Group (AfDB)
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REISSUE: 2024 Annual Meetings: African Development Bank President Outlines Gains of Historic 2023 Dakar 2 Summit

Bank will invest $2.9 billion to support the Country Food and Agriculture Delivery Compacts; appoints Special Envoys to fast-track implementation

Since the Dakar 2 Summit (https://apo-opa.co/4bBfGm1), six African countries have set up Presidential-level Councils to drive implementation of the Country Food and Agriculture Delivery Compacts agreed at the summit, while another twelve countries are at various stages of establishing their councils. Presidential Councils have taken off in Tanzania, Democratic Republic of…

African Development Bank Group (AfDB)

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    • L-R: AfDB Executive Director Rufus Darkortey; Seedy Keita, Finance Minister and AfDB Governor for The Gambia; Mohammed Amin Adam, Minister of State, Ministry of Finance and Economic Planning, Ghana; Augustus Flomo, Deputy Minister for Economic Management, Liberia; Bockarie Kalokoh, Deputy Minister of Finance, Sierra Leone; and Muhammad Bashar Muhammad, Undersecretary of Economic Planning, Sudan
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Source: African Development Bank Group (AfDB) |

Five African Development Bank (AfDB) regional member countries set to join African Development Fund replenishment

The Gambia, Ghana, Liberia, Sierra Leone and Sudan plan to contribute $1 million each to ADF’s next replenishment cycle

Five African Development Bank (www.AfDB.org) Governors have signed an agreement committing to contribute at least $1 million to the replenishment of the African Development Fund (ADF), the concessional window of the Bank Group. Under the self-initiated agreement, the five-member constituency—The Gambia, Ghana, Liberia, Sierra Leone, and Sudan—will contribute to the…

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    • West African Monetary Institute to receive $8 million from African Development Fund to support enhanced banking identification and financial sector efficiency in the West African Monetary Zone (1)
    • West African Monetary Institute to receive $8 million from African Development Fund to support enhanced banking identification and financial sector efficiency in the West African Monetary Zone (2)
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Source: African Development Bank Group (AfDB) |

West African Monetary Institute to receive $8 million from African Development Fund to support enhanced banking identification and financial sector efficiency in the West African Monetary Zone

The project is expected to enhance financial sector efficiency within the participating countries, leading to increased access to finance and further regional integration efforts

The Board of Directors of the African Development Fund has approved $8 million in funding toward the establishment of a digitally interoperable unique bank identification system and harmonised customer identification framework for The Gambia, Guinea, Liberia and Sierra Leone. Implementation of the project will commence in July 2023, led by the…