Source: African Development Bank Group (AfDB) |

Agenda 2063: the African Development Bank contributes to validation of the African Union's second Biennial Continental Report

The technical group is responsible for monitoring and evaluation, scrutiny and reporting on progress made in the implementation of Agenda 2063

An African Development Bank delegation (www.AfDB.org) led by Abdul Kamara, Deputy Director General of the East Africa Region, is taking part in a validation workshop for the African Union's (UA) second Biennial Continental Report on Agenda 2063, held from 20 September to 6 October in the Zimbabwean capital Harare. The…

Source: African Development Bank Group (AfDB) |

African Development Bank approves a $50 million Multinational Trade Finance Risk Participation Agreement facility for Standard Chartered Bank

The agreement is expected to boost intra-Africa trade, promote regional integration, and contribute to the reduction of the trade finance gap in Africa

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $50 million Trade Finance Unfunded Risk Participation Agreement (RPA) facility between the African Development Bank and Standard Chartered Bank. The agreement is expected to boost intra-Africa trade, promote regional integration, and contribute to the reduction of…

Source: African Development Bank Group (AfDB) |

CORRECTION - Nigeria: Federal and state governments endorse Special Agro-industrial Processing Zones Programme: African Development Bank and partners to mobilize $520 million for Phase 1

The participants provided progress updates on the scheme, following their consultations with key stakeholders within the public and private sectors

Nigeria’s Federal and State governments have expressed overwhelming support for an initiative to create Special Agro-industrial Processing Zones (SAPZ) - public-private partnerships aimed at developing priority value chains through developing infrastructure in rural areas, focused on finishing and transforming raw materials and commodities. At a high-level briefing session held on…

Source: African Development Bank Group (AfDB) |

CORRECTION and REISSUE: G20 Compact with Africa reaffirms commitment to securing Africa’s recovery from Covid-19 pandemic through private sector development and vaccine manufacturing

See Editor’s Note below

Participants of a G20 Compact with Africa meeting this week assessed Africa’s progress in fighting the Covid-19 pandemic. “We are meeting at a pivotal time in the relationship between Africa and the rest of the world,” said Italian prime minister Mario Draghi. The Compact with Africa is a G20 initiative…

Source: African Development Bank Group (AfDB) |

G20 Compact with Africa Reaffirms Commitment to Securing Africa’s Recovery from Covid-19 Pandemic through Private Sector Development and Vaccine Manufacturing

The Compact with Africa is a G20 initiative that promotes macroeconomic, business and financing reforms to attract more private investment in Africa

Participants of a G20 Compact with Africa meeting this week assessed Africa’s progress in fighting the Covid-19 pandemic. “We are meeting at a pivotal time in the relationship between Africa and the rest of the world,” said Italian prime minister Mario Draghi. The Compact with Africa is a G20 initiative…

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

International Youth Day: How winners of the Bank’s AgriPitch competition are helping to transform Africa’s food system

The Forum instills a culture of innovation and nurturing for technology-led agribusiness innovations to create jobs and improve youth livelihoods

As the world observes International Youth Day, Africa is producing a growing number of young entrepreneurs who are adopting new ideas to bring more affordable, quality food from farm to fork. This year’s theme is “Transforming Food Systems: Youth Innovation for Human and Planetary Health”, putting the spotlight on the…

African Development Bank Group (AfDB)
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    • Close partnership between India and Africa could improve the welfare of 2.5 billion people post Covid-19, participants at 2021 Indo-Africa business conclave say
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Source: African Development Bank Group (AfDB) |

Close partnership between India and Africa could improve the welfare of 2.5 billion people post Covid-19, participants at 2021 Indo-Africa business conclave say

Participants said India and Africa should boost efforts to improve access to medicines, including vaccines and other essential drugs to tackle Covid-19 and future pandemics

The Covid-19 pandemic has provided the impetus for a stronger partnership between India and Africa with potential benefits to both as they build back sustainably after the crisis, experts attending the 16th CII-Exim Bank Digital Conclave on India-Africa Project Partnership (https://bit.ly/3rgmnDG) affirmed. Speaking at the virtual event’s opening, Subrahmanyam Jaishankar,…

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    • Pokuase interchange opening
    • Ghana: African Development Bank Group-financed road interchange opens, trade and incomes expected up (1)
    • Ghana: African Development Bank Group-financed road interchange opens, trade and incomes expected up (2)
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Source: African Development Bank Group (AfDB) |

Ghana: African Development Bank Group-financed road interchange opens, trade and incomes expected up

The four-tier interchange — the first of its type in West Africa—and a 10-km road network linking it to adjoining arterial roads, form part of the Accra Urban Transport Project

A jumbo road interchange financed by the African Development Bank Group (www.AfDB.org) has opened in the Ghanaian capital, Accra, amid hopes the new infrastructure will help reduce road fatalities, ease mobility and spur trade within Ghana as well as with its neighbors. Ghana’s President Nana Akufo-Addo commissioned the Pokuase Interchange…

Source: African Development Bank Group (AfDB) |

African Development Fund extends $83.6 million in grants to boost Ethiopia-Djibouti electricity trade

The funds comprise a $69.65 million grant to Ethiopia and a second grant of $13.93 million to Djibouti, both sourced from the African Development Fund

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved two grants worth $83.6 million to boost cross-border trade in electricity between Ethiopia and Djibouti and to deepen integration in the Horn of Africa sub-region. The funds comprise a $69.65 million grant to Ethiopia and a second…

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    • Mozambique: African Development Bank and Italian Technical Cooperation Fund extend €990,000 grant to boost agricultural value chains
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Source: African Development Bank Group (AfDB) |

Mozambique: African Development Bank and Italian Technical Cooperation Fund extend €990,000 grant to boost agricultural value chains

The project will enable the businesses to better tap into national and regional markets and capitalize on the opportunities created by the African Continental Free Trade Area

The African Development Bank (www.AfDB.org), with financing from the Italian Technical Cooperation Fund, has provided a €990,000 grant to help smaller agro-processing enterprises boost production and quality control. The project will enable the businesses to better tap into national and regional markets and capitalize on the opportunities created by the…