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

“One” WASH program improves well-being of vulnerable communities in Ethiopia

The scheme combines the construction of infrastructure to extend access to water and sanitation to new areas and the revamping of disused equipment such as pumping stations and pipelines

Ethiopia’s ‘One’ model, under which the government runs its Water, Sanitation and Hygiene (WASH) National Program, (https://bit.ly/2Bif7lh) has steadily improved the well-being of the country’s rural and urban communities, top local officials say. “The ‘One’ here means we have one account, one budget and one report in one consolidated WASH…

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

Ghana Cocoa Board, African Development Bank and financial partners celebrate first $200 million disbursement of loan to boost cocoa productivity in Ghana

Ghana supplies 70% of all cocoa beans imported into Japan and cocoa is seen as one of the nation’s most essential import commodities

Ghana Cocoa Board (COCOBOD) and lenders have welcomed the first disbursement of $200 million of a syndicated loan facility to boost cocoa productivity in the world’s second-largest producer. The occasion was marked by a ceremony held in Accra, Ghana on Tuesday 23 June, followed online by hundreds of observers across…

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

African Development Bank and development partners propel Somalia back from the brink

The Bank’s current portfolio in Somalia totals $298 million, covering operations in agriculture, water and sanitation, transport, social and energy, and multi-sectoral projects

In early 2020, Somalia, with support from the United Kingdom Government and the European Union, settled its arrears to the African Development Bank (www.AfDB.org), paving the way for the lifting of 30-year old sanctions imposed by the Bank and the resumption of full engagement with the fragile East African country.…

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

Somalia: African Development Bank’s intervention helps to curb COVID-19 in vulnerable communities

African Development Bank-financed water supply and sanitation project came in handy as a critical control intervention

With 2.6 million internally displaced persons in Somalia, the outbreak of COVID-19 poses an additional challenge in an already fragile situation, leaving the population highly vulnerable. Thankfully, the African Development Bank-financed (www.AfDB.org) water supply and sanitation project came in handy as a critical control intervention, although COVID-19 was not anticipated…

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

Our collective humanity is at stake: African Development Bank President

He made the call during a global Corporate Council on Africa (CCA) webinar

African Development Bank Group (www.AfDB.org) President Akinwumi Adesina says an accelerated global health and economic effort is needed to overcome the COVID-19 pandemic in Africa. Stating that “one death is one too many” and that “our collective humanity is at stake,” Adesina urged U.S. and African government officials and corporate…

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

African Development Bank appoints Nourredine Lafhel Acting Chief Risk Officer

An experienced risk management professional, Nourredine has more than twenty (20) years of experience in finance and risk management

The African Development Bank Group (www.AfDB.org) is pleased to announce the appointment of Mr. Nourredine Lafhel as Acting Chief Risk Officer, effective 6th April 2020. Lafhel, a Canadian national, is currently the Sovereign Credit and Market Risk Division Manager (PGRF3), in the Directorate of the Group Risk Management Function of the African Development Bank Group. An…

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

African Development Bank celebrates milestone with first social bond listing on London Stock Exchange

Record-breaking $3 billion Fight Covid-19 social bond launches on LSE: a first for the Bank

The African Development Bank’s (www.AfDB.org) “Fight Covid-19” social bond, the largest social bond to date to be issued in the capital markets, listed on London Stock Exchange on Friday 3 April 2020, and is now available through its Sustainable Bond Market. The listing marks an important milestone as the Bank…

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

African Development Bank Group approves Gender Equality Trust Fund and Risk-Sharing Mechanism to improve women’s economic empowerment in Africa

Funded by donors, the GETF will support the delivery and scale-up of the Bank’s Affirmative Finance Action for Women in Africa (AFAWA) programme

The Board of Directors of the African Development Bank Group (www.AfDB.org) have approved a new Gender Equality Trust Fund (GETF) aimed at pushing forward gender equality and women’s empowerment across the continent. Funded by donors, the GETF will support the delivery and scale-up of the Bank’s Affirmative Finance Action for…

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

New dawn for Somalia: Arrears owed to the African Development Bank Group cleared

The Bank Group will immediately provide a new policy-based operation to help boost economic growth and accelerated development of Somalia

Arrears on loans owed by Somalia to the African Development Bank (www.AfDB.org) Group have been cleared following the payment in full of $122.55 million by the governments of the United Kingdom and the European Union, marking the end of sanctions and the resumption of full re-engagement between the Bank Group…

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

African Development Bank Director Hanan Morsy named one of Egypt’s 50 most influential women

Dr Hala El Said, Egypt’s Minister of Planning and Economic Development, gave the award on 5 February in a ceremony organized under auspices of the Egyptian Prime Minister

The Director of Macroeconomic Policy, Forecasting and Research at the African Development Bank (https://www.AfDB.org/), Dr Hanan Morsy, has been named one of Egypt’s 50 most influential women. Dr Hala El Said, Egypt’s Minister of Planning and Economic Development, gave the award on 5 February in a ceremony organized under auspices…