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

East Africa holds its ground as Africa’s fastest growing region, despite COVID-19 disruption

Prior to the COVID-19 pandemic, the region’s economic growth was projected at more than 5 percent, well above continent’s average of 3.3 percent and global average of 2.9 percent

COVID-19 curbs East Africa’s growth, but still the strongest in the continent; Report calls for transition to higher value-added activities to build resilience to shocks. Economic disruption caused by the COVID-19 pandemic has pushed East Africa’s growth projection for 2020 down to 1.2 percent, a rate that outstrips other African…

Source: African Development Bank Group (AfDB) |

African Development Fund approves $9.52 million to enhance coordinated COVID-19 response in East and Horn of Africa and the Comoros

The funds will be used to bolster health systems and disease surveillance, enhance infection prevention and control, and improve regional coordination

The Board of Directors of the African Development Fund (ADF) have approved grants totaling $9.52 million to strengthen responses to the COVID-19 pandemic in East Africa and the Horn, and in the Comoros. The grant, approved on 26 June, is part of the $10 billion COVID-19 Rapid Response Facility (CRF)…

Source: African Development Bank Group (AfDB) |

International community shows strong support for Sudan with $1.8 billion pledge

The African Development Bank has earmarked about $115 million in grants for the next three years to finance public sector projects and programs in Sudan

Over $1.8 billion dollars in pledges for Sudan poured in during a high-level Sudan Partnership Conference held on Thursday, 25 June 2020, marking an important step in the African nation’s re-engagement with the international community. African Development Bank (https://www.AfDB.org/) President, Akinwumi Adesina, and the World Bank and the International Monetary…

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

African Development Bank approves $4 million grant to bolster South Sudan’s COVID-19 response

As of June 15, 2020, the country had reported 1,693 cases, 27 deaths and 49 recoveries

The Board of Directors of the African Development Bank (www.AfDB.org) on Wednesday approved a UA 3 million ($4.16 million) grant to South Sudan to support the emergency response to COVID-19 and strengthen the country’s fragile health system. The grant, from the Transitional Support Facility of the Bank Group’s African Development…

Source: African Development Bank Group (AfDB) |

Ethiopia: The African Development Bank gives $1.2 million for Ethiopia-Sudan railway study

The two-year, comprehensive feasibility study will assess the proposed project’s technical, economic, environmental and social viability

The African Development Bank’s (www.AfDB.org) Board of Directors has approved a $1.2 million grant to Ethiopia’s government to finance a feasibility study for construction of a standard-gauge railway (SGR) link between Ethiopia and neighbouring Sudan. The grant, from the African Development Fund, the Bank Group's concessional-rate lending arm, would cover…

African Development Bank Group (AfDB)
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    • 2020-02-14 Kiaruni/Kenya Swarm of 40-50 million adult desert locust hits millet fields in dmall Kenyan village - By Nicole Macheroux-Denault
    • Swarm of destructive Desert Locusts fill the sky over Samburu NR, Kenya. Locusts appear as dots in front of White clouds and blue sky. Schistocerca gregaria - By Jen Watson
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Source: African Development Bank Group (AfDB) |

African Development Bank approves $1.5 million emergency grant to curb desert locusts ravaging East and Horn of Africa

The proposed assistance will be channeled to the Intergovernmental Authority on Development (IGAD)

The Board of Directors of the African Development Bank (www.AfDB.org) on Wednesday approved a $1.5 million emergency relief grant to assist nine countries in the East and Horn of Africa on the control of swarms of desert locusts that are threatening livelihoods and food security. The proposed assistance will be…

Source: African Development Bank Group (AfDB) |

Sudan: African Development Bank signs first private sector loan, DAL Group to receive up to $75 million

The financing facility comes in the form of a senior corporate loan of up to the equivalent of $75 million in multiple currencies, which includes $40 million and EUR 30 million

The African Development Bank (www.AfDB.org) has signed an agreement with DAL Group, one of Sudan’s largest conglomerates, for the provision of up to $75 million to improve food security and household incomes in the country. The agreement is the Bank’s first private sector loan to the East African nation. The…

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

“You have been in the trenches with us,” Ghana Vice President Mahamudu Bawumia tells African Development Bank

Ghana is looking to the Bank for investment in an integrated aluminium industry, using the country’s large bauxite deposit as raw materials

The African Development Bank’s (www.AfDB.org) support for the west African nation Ghana has boosted its government’s efforts to consolidate the economy, the country’s Vice President, Mahamudu Bawumia said on Monday. Bawumia, welcoming a team of Executive Directors and senior officials of the Bank on an official visit, cited various Bank-supported…

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

President of the African Development Bank receives 8th African Leadership Magazine African of the Year Award

The African Leadership Magazine Persons of the Year Awards is now the most popular vote-based third-party endorsement in Africa

Over 200 leading African political, business, and diplomatic leaders gathered in Johannesburg for the 8th African Leadership Magazine Persons of the Year Award dinner. They witnessed Dr. Akinwumi Adesina, President of the African Development Bank (www.AfDB.org), being honored as the African of the Year 2019.  Themed ‘Africa for Africans –…

African Development Bank Group (AfDB)
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    • Left to Right: Bank Executive Directors Paal Bjornestad, Amos Kipronoh Cheptoo (partly hidden), Mmakgoshi Lekhethe, Judith Kateera, Mbuyami Ilankir Matungulu, Zimbabwe President Emmerson Mnangagwa and Finance and Economic Development Minister Professor Mthuli Ncube
    • Bank Executive Directors; Mmakgoshi Lekhethe, Mbuyami Ilankir Matungulu, Kenyeh Barlay, Paal Bjornestad, Judith Kateera and Amos Kipronoh Cheptoo at Kopa Bridge over Rusitu River in Chimanimani
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Source: African Development Bank Group (AfDB) |

Zimbabwe: African Development Bank Executive Directors conduct consultative mission, tour project sites

The delegation also met officials from various ministries, civil society, private sector and multilateral financial institutions

A seven-member delegation of Executive Directors of the African Development Bank (www.AfDB.org) visited Zimbabwe on a week-long fact-finding mission where they held meetings with a number of officials including President Emmerson Dambudzo Mnangagwa. The delegation also met officials from various ministries, civil society, private sector and multilateral financial institutions, during…