Source: African Development Bank Group (AfDB) |

Sudan: $28.233 million in African Development Fund Grants to bolster response to COVID-19

The grants are being provided under the African Development Bank’s COVID-19 Response Facility

The Board of the African Development Fund on Wednesday approved grants worth $28.233 million to Sudan to shore up the country’s health system to effectively respond and contain the COVID-19 pandemic, mitigate its social and economic impacts and build resilience to future pandemics, including climate-induced outbreaks.  The funding will take…

Source: African Development Bank Group (AfDB) |

Financial modelling in the extractive sector: Harness Africa’s natural resources for sustainable development - African Development Bank

Natural resources play a critical role in economies, as they contribute to the well-being of the people, as a source of livelihood and contribute to GDP

Africa should harness its natural resources to accelerate sustainable development, the African Development Bank’s (www.AfDB.org) Chief Economist and Vice President for Economic Governance and Knowledge Management has said. Rabah Arezki was speaking to policymakers and stakeholders during a two-day inception workshop which began Monday on the Bank’s Financial Modelling for…

Source: African Development Bank Group (AfDB) |

African Development Bank Group approves $440,000 emergency relief assistance for flood victims in South Sudan and Sudan

The package, from the Bank’s Special Relief Fund, will be split nearly equally between the two countries and will be used to purchase food items and water

The African Development Bank Group (www.AfDB.org) has approved an emergency assistance relief package of $440,000 to fund ongoing humanitarian and emergency relief efforts in areas recently hit by floods in South Sudan and Sudan. The package, from the Bank’s Special Relief Fund, will be split nearly equally between the two countries…

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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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…