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

Malawi: African Development Bank gives financial sector a boost with new tools to support local corporates, SMEs and domestic trade

The aim of the engagement exercise was to sensitize industry leaders on how best the Bank can partner with the private sector in the country to increase access to finance and financial intermediation options

Members of the African Development Bank Group’s (www.AfDB.org) Financial Sector Development Department (trade finance division) have concluded a successful visit to Malawi aimed at strengthening engagement with the private sector and leading financial institutions. The team, led by the Bank’s Country Manager for Malawi, Macmillan Anyanwu, engaged with senior executives…

African Development Bank Group (AfDB)

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    • “I will be your strong advocate for G7 countries to do more for the African Development Fund and to put in more resources for Africa” – Melinda French Gates, co-chair of the Bill & Melinda Gates Foundation (1)
    • “I will be your strong advocate for G7 countries to do more for the African Development Fund and to put in more resources for Africa” – Melinda French Gates, co-chair of the Bill & Melinda Gates Foundation (2)
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Source: African Development Bank Group (AfDB) |

African Development Bank Group Chief Garners Strong Global Support for Africa

Adesina affirmed to the shareholders that the African Development Fund’s impact on Africa, through their support, was massive and far reaching

African Development Bank Group (www.AfDB.org) President Dr Akinwumi Adesina concluded a three-day official visit to Washington DC on Saturday. Alongside the Spring Meetings of the International Monetary Fund and World Bank, the visit included several bilateral engagements with stakeholders on African development. Adesina garnered broad strong support for a robust…

African Development Bank Group (AfDB)

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    • Map showing the Mano River Union region: Improving road infrastructure and promoting intra-community trade will help boost the post-conflict recovery in the Mano River Union area
    • In the past five years, the African Development Bank Group has provided over 69 million people with improved transport – picture: Moyale-Mombasa Road
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Source: African Development Bank Group (AfDB) |

The Mano River Union: African Development Fund commits $88.2 Million for Road Development and Transport Facilitation in Liberia and Sierra Leone

The Mano River Union is an international association initially established between Liberia and Sierra Leone in 1973 under the Mano River Declaration

The Board of Directors of the African Development Fund,  the concessional window of the African Development Bank Group (www.AfDB.org), on Wednesday approved $88.2 million in financing for the third phase of the Road Development and Transport Facilitation Programme for the Mano River Union (https://bit.ly/3iuTBvh). The Mano River Union is an international…

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

CORRECTION: Africa is the place to invest, visiting US congressional delegation acknowledges to African Development Bank chief

The congressman from New York and Chairman of the US House Foreign Affairs Committee was speaking during a visit to the African Development Bank Group on Saturday

United States Congressman Gregory Meeks has warned that the United States will only be part of the future if it invests in Africa now. The congressman from New York and Chairman of the US House Foreign Affairs Committee was speaking during a visit to the African Development Bank Group on…

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

African Development Bank Group and Africa50, in partnership with the African Union Commission and AUDA NEPAD, to create Alliance for Green Infrastructure in Africa with global partners

The key challenge for infrastructure development on the African continent is the dearth of bankable opportunities

The Alliance will: catalyze bankable, greener infrastructure projects at scale and speed; raise up to $500 million of early-stage project development and project preparation capital which aims to generate up to $10 billion in investment opportunities; support the continent’s transition to Net Zero emissions with investments in greener, climate-resilient and…

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

CORRECTION: Global Development Finance Coalition commits Over $5.5 billion for MSME Financing in Africa

Coalition exceeds its $4 billion target by 40% in an effort to help MSMEs face the Covid-19 pandemic

The coalition for a sustainable and inclusive recovery of the private sector (https://bit.ly/3uVECSE), an international group of 20 development finance institutions that came together in 2020, today announced commitments of over $5.55 billion of financing to micro, small and medium enterprises (MSMEs) in Africa between mid-2020 and end of 2021, beating…

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

African Development Fund grants $1.5 million to Smart Africa Alliance to strengthen the policy environment for digital trade and e-commerce across Africa

Smart Africa will consult public and private sector actors to develop an online training program that will directly benefit 600 stakeholders

The Board of Directors of the African Development Bank Group (www.AfDB.com) has approved a $1.5 million grant to assess policy gaps in the digital trade and e-commerce ecosystems in 10 countries in Africa. The funds, sourced from the African Development Fund, the Bank’s concessional window, will go to the Smart…

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

African Development Bank Group Board approves a $35 million facility for Ecobank International affiliates, EBI SA trade finance activities in Africa

The renewal of the partnership with Ecobank comes at a time when most African issuing banks are battling with the negative impact of the Covid-19 pandemic

The Board of Directors of the African Development Bank (www.AfDB.org) on 19 November 2021 approved a $35 million unfunded risk-sharing facility to support the trade finance activities in Africa of Ecobank International affiliates, EBI SA. Stefan Nalletamby, Director for Financial Sector Development at the African Development Bank, said the renewal…

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

At IATF, Multilateral Financiers Discuss Trade Initiatives after Covid-19

The conversation took place during a panel discussion at the Intra-African Trade Fair, launched in 2018 to give the AfCFTA, which came into effect this year

Multilateral financial institutions on Tuesday discussed their role in promoting trade under the African Continental Free Trade Area (AfCFTA), an ambitious plan to create the world’s largest free trade zone since the founding of the World Trade Organization. The conversation took place during a panel discussion at the Intra-African Trade…

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

Let’s push the African Continental Free Trade Area as a sure-fire way to a golden “made in Africa” label, leaders say at Intra-African Trade Fair

Speakers at the Trade Fair said such promise was especially relevant as the continent tries to rebuild in the wake of the Covid-19 pandemic

That history repeats itself need not be a bad thing in Africa, South African President Cyril Ramaphosa stressed during the opening ceremony of the second Intra-African Trade Fair in Durban, South Africa. Speaking on Monday, the president recalled that for centuries in pre-colonial times, Africa was a thriving trade hub.…