Source: African Development Bank Group (AfDB) |

United Kingdom Steps up Climate Adaptation Finance Support for Africa

The UK will provide £200 million to the African Development Bank Group’s Climate Action Window, a new mechanism set up to channel climate finance to help vulnerable countries

The United Kingdom has announced a significant increase in its financial support to the poorest African countries that bear the brunt of climate change.  Speaking alongside African leaders at COP27 in the Egyptian city of Sharm El Sheikh, British Foreign Secretary James Cleverly confirmed the UK will provide £200 million…

Source: African Development Bank Group (AfDB) |

African Development Bank, United Kingdom and London Market Insurers Enter New Risk Transfer Partnership for Climate Action

The Room to Run Sovereign transaction was structured with the intention of scaling up the African Development Bank Group’s commitments to climate finance by up to $2 billion

The African Development Bank (https://www.AfDB.org/), the government of the United Kingdom and three globally recognized insurance companies have closed on a new and innovative risk sharing transaction known as the Room to Run Sovereign.   The Room to Run Sovereign transaction was structured with the intention of scaling up the…

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Source: African Development Bank Group (AfDB) |

Act now to safeguard biodiversity, nature’s asset class in Africa - Dasgupta Review

The report, The Economics of Biodiversity: The Dasgupta Review, assesses the economic benefits of biodiversity globally

A U.K. Treasury -commissioned independent review on the economics of biodiversity has called for a change in the way the world thinks and acts with regard to nature. Africa, alongside the rest of the world, must heed the call to understand that our economies are embedded within nature and are…

Source: African Development Bank Group (AfDB) |

UK Parliamentary Committee recognises the African Development Bank’s effectiveness in responding to Covid-19

The report recognises the Bank’s effectiveness in responding to the pandemic and encourages the British government to work with it to ensure that momentum is not lost in 2021

The African Development Bank (www.AfDB.org) has welcomed a report published by the UK House of Commons’ International Development Committee on Britain’s support to the African Development Bank Group. The report was prepared by the Sub-Committee on the Work of the Independent Commission for Aid Impact (ICAI). The report recognises the…

Source: African Development Bank Group (AfDB) |

Sudan: African Development Bank Group approves proposal to clear $413 million arrears

The proposal enables the Bank to proceed with clearing Sudan’s arrears with the African Development Bank Group, with the support of the United Kingdom and Sweden

The Boards of Directors of the African Development Bank (www.AfDB.org) Group on Friday approved a proposal for the clearance of about $413 million in arrears on loans owed by Sudan to the institution, marking a major milestone in the country’s re-engagement with international financial institutions and the global economy. The…

Source: African Development Bank Group (AfDB) |

U.K Africa Investment Summit: Renewable energy critical driver of Africa’s post-COVID-19 growth recovery and economic prosperity, Panel says

The panel covered discussion of British innovation and experience in the context of partnering with Africa to advance its economic development

Renewable energy will be a critical driver of Africa’s post-COVID-19 growth recovery and economic prosperity,  panelists in a 2021 UK Africa Investment Summit event said Wednesday, as they called for a stronger partnership between the United Kingdom and  Africa. The panel, themed UK & Africa: Partnering in Sustainable and Resilient…

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Source: African Development Bank Group (AfDB) |

U.K. Africa Investment Conference: Africa is the world’s next business frontier, says AfDB's Akinwumi Adesina

Africa still possessed the same fundamentals that had driven the continent’s phenomenal growth over the past decade, Adesina said

African Development Bank (www.AfDB.org) President Akinwumi A. Adesina said on Wednesday that Africa remained fertile ground for investment, but much hinged on the continent’s ability to boost its healthcare sector. Adesina spoke during the Africa Investment Conference, a virtual one-day event organized by the UK Department for International Trade, which…

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

COVID-19 is a ‘wake-up command’ to address Africa’s challenges - Tony Blair

The former UK prime minister addressed a virtual audience on the topic Building Back Better in Post COVID-19 Africa: The Role of Technology and Governance, as part of the Kofi A. Annan Lecture Series

We have the same problems but what we also have is vastly increased urgency – Blair; Agriculture offers Africa its best opportunity for industrialization…the key is how does Africa raise productivity, develop the integrated technology in rural areas? - Adesina The COVID-19 pandemic has exposed the challenges and opportunities of…

Source: African Development Bank Group (AfDB) |

Dr. Akinwumi Adesina re-elected as President of the African Development Bank Group

The election took place on the final day of the 2020 Annual Meetings of the African Development Bank Group

Dr. Akinwumi A. Adesina has been re-elected to serve a second fiveyear term as President of the African Development Bank Group (www.AfDB.org) on Thursday, August 27, 2020 by the Board of Governors of the Bank. A globally renowned development economist and a World Food Prize Laureate and Sunhak Peace Prize…

Source: African Development Bank Group (AfDB) |

African Development Bank 2020 Annual meetings: Building Africa back better after the COVID-19 pandemic

The Governors' Dialogue and the election of a president will be top of the agenda of the upcoming Meetings scheduled for 26-27 August 2020

For the first time in the history of the African Development Bank (http://www.AfDB.org), its Annual Meetings will be held virtually to comply with the COVID-19 pandemic-related social-distancing guidelines.  The Governors' Dialogue and the election of a president will be top of the agenda of the upcoming Meetings scheduled for 26-27…