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

African Development Bank and United Kingdom (UK) select Tunisian cereals project as prime climate finance transaction under landmark Room to Run Sovereign Programme

The project will benefit up to 250,000 cereal farmers in the country, boosting their food security and self-sufficiency

The African Development Bank (www.AfDB.org) and the United Kingdom have announced the selection of the Inclusive and Sustainable Development of the Cereal Sector Project in Tunisia, as a standard-setting project under the Room to Run Sovereign transaction (R2RS) (https://apo-opa.co/3U3D0CP).   Approved in July 2023, this cereal sector project in Tunisia will strengthen…

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

African Development Bank and United Kingdom (UK) announce Mauritius as a beneficiary of unlocked climate finance from the landmark Room to Run Sovereign Program

This will allow Mauritius to continue its path of energy transition and enable the integration of renewable energy and achieve the target of 60% renewable energy in the electricity generation mix by 2030

The African Development Bank (www.AfDB.org) and the United Kingdom have announced the selection of the Gas Insulated Switchgear Substations Project in Mauritius as a beneficiary project under the Room to Run Sovereign transaction (R2RS) (https://apo-opa.co/3U3D0CP). This means that up to 100% of the $110 million total project cost corresponding to the climate…

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

African Development Bank and United Kingdom (UK) announce Kenya as the next beneficiary of unlocked climate finance from the landmark Room to Run Sovereign Program

This project complements the ongoing UK Government efforts to address transmission network capacity limitations, reliability and quality of electricity supply, and high-power system losses, technical and non-technical, in Kenya

The African Development Bank (www.AfDB.org) and the United Kingdom have announced the selection of the Transmission Network Improvement Project in Kenya as a beneficiary project under the Room to Run Sovereign transaction (R2RS) (https://apo-opa.co/3U3D0CP). This means that up to $59 million of the $116 million total project cost corresponding to the…

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

Benin announced as latest beneficiary of unlocked climate finance lending from Room 2 Run Sovereign Programme, a joint initiative of the African Development Bank and the United Kingdom (UK)

The Bank provided a loan of $129 million to the project to improve living conditions in secondary towns throughout Benin by implementing various climate adaptation activities

The African Development Bank (www.AfDB.org) and the UK have announced the Secondary Town Stormwater Drainage Project in Benin as the latest beneficiary project under the Room to Run Sovereign transaction (R2RS). Under the R2RS transaction, the UK Government provided a guarantee to the Bank, unlocking additional climate finance for projects…

African Development Bank Group (AfDB)

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    • Conference of the Parties (COP28): United Kingdom commits £7.4 million additional funding to African Development Bank’s Africa Disaster Risk Financing Programme
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Source: African Development Bank Group (AfDB) |

Conference of the Parties (COP28): United Kingdom commits £7.4 million additional funding to African Development Bank’s Africa Disaster Risk Financing Programme

Grant to support Somalia in adapting to weather extremes related to climate change

The United Kingdom’s Foreign, Commonwealth and Development Office has announced nearly $10 million in additional funding to the African Development Bank’s (www.AfDB.org) programme assisting African countries to strengthen resilience and enhance their response to climate shocks. The financial commitment of £7.4 million ($9.63 million) for the Multi-Donor Trust Fund of…

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

South Africa: African Development Bank approves $1 billion guarantee from the United Kingdom to support SA’s Just Energy Transition

This is another innovative operation that reaffirms AfDB’s leadership in crafting financial solutions to increase access to climate finance for Africa’s low carbon development and net zero ambitions

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $1 billion guarantee program in collaboration with the UK Foreign Commonwealth and Development Office (FCDO), which will allow the Bank to increase its lending capacity in support of South Africa’s Just Energy Transition (JET). Developed in…

African Development Bank Group (AfDB)

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    • Co-Financing, Syndications and Client Solutions Team, with AfDB broker Texel at their offices, London (1)
    • Co-Financing, Syndications and Client Solutions Team, with AfDB broker Texel at their offices, London (2)
    • Co-Financing, Syndications and Client Solutions Team, with AfDB broker Texel at their offices, London (3)
    • Co-Financing, Syndications and Client Solutions Team, with AfDB broker Texel at their offices, London (4)
    • Co-Financing, Syndications and Client Solutions Team, with AfDB broker Texel at their offices, London (5)
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Source: African Development Bank Group (AfDB) |

African Development Bank concludes 2023 insurer roadshow to accelerate mobilization of private capital to the continent

The G20 Capital Adequacy Framework Report notes that increased private capital mobilization is critical to achieving the UN Sustainable Development Goals and Agenda 2063

The Co-Financing, Syndications and Client Solutions department of the African Development Bank Group (www.AfDB.org) has met with London-based insurers to galvanize continued support of the Bank’s balance sheet optimization and mobilization ambitions, in line with its 2023 lending program. The Bank held an investor relationship event on 28 February, attended…

African Development Bank Group (AfDB)
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…

African Development Bank Group (AfDB)
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…

African Development Bank Group (AfDB)

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