Source: African Development Bank Group (AfDB) |

Tanzania: African Development Bank’s $55 million facility to jumpstart private sector-led economic growth

Support from the Bank’s African Development Fund will bolster ongoing reforms being undertaken by the government of Tanzania

The African Development Bank (AfDB.org) has approved a $55 million facility to strengthen implementation of reforms to enhance Tanzania’s economic competitiveness and private sector participation in the country’s growth. These critical reforms will lead to a more vibrant economy, which will improve the living conditions of Tanzanians, particularly the poor…

Source: African Development Bank Group (AfDB) |

Multilateral Development Banks Pledge to Step Up Support for Forcibly Displaced Populations at Global Refugee Forum

More than 70 million people are forcibly displaced globally, with African countries hosting about 8 million refugees and 16 million Internally Displaced Persons (IDPs)

Multilateral Development Banks (MDBs) are stepping up their support for refugees and people affected by forced displacement, including hosting communities, across a wide range of sectors and policy instruments. The pledges were made by the African Development Bank (https://www.AfDB.org/), the Asian Development Bank, the European Bank for Reconstruction and Development,…

Source: African Development Bank Group (AfDB) |

Egypt: African Development Bank board approves €109 million to transform sewage coverage in Upper Egypt rural areas

The initiative is in line with the Bank’s water sector policy, which promotes efficient, equitable and sustainable development through integrated water resources management

The Board of Directors of the African Development Bank (https://www.AfDB.org/) has approved a €109 million facility for the development of sewage disposal and wastewater treatment plants for rural areas in Luxor Governorate in Egypt’s Upper Nile region. The Integrated Rural Sanitation in Upper Egypt – Luxor (IRSUE-Luxor) project is set…

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

African Development Bank’s digital skills training benefits women

The goal is to expand the program to 130 centres of excellence across Africa over a 10-year period

After graduating from the University of Ibadan in Nigeria with a degree in Communication and Language Arts in 2016, Olashile Odetola could not find a job. But an online learning program piloted by the African Development Bank has given her two “gifts”: digital skills and a sense of confidence. Odetola,…

Source: African Development Bank Group (AfDB) |

Kenya & Tanzania: Over 3 million people to benefit from African Development Bank’s €345 million road construction support

The total amount of co-financing is expected to be more than $ 1.2 billion when subsequent phases of the project are concluded

Over three million people in Tanzania and Kenya will benefit from a €345 million financing package for road construction support, approved by the African Development Bank’s (https://www.AfDB.org/) board in Abidjan on Thursday. The Bank’s support for the Mombasa-Lunga Lunga/Horohoro and Tanga-Pangani-Bagamoyo roads Phase I, is in the form of African…

Source: African Development Bank Group (AfDB) |

African Development Fund (ADF-15) replenishment: Donors commit $7.6 billion, a 32% boost from last replenishment, in support of Africa’s low-income, fragile, countries

The Fund comprises 32 contributing states and benefits 37 countries

Donors of the African Development Fund (ADF) on Thursday agreed to commit $7.6 billion to speed up growth in Africa’s poorest nations and help lift millions out of poverty. This fifteenth replenishment of the ADF (ADF-15), up 32% from the previous cycle, sends a strong signal of trust in the…

Source: African Development Bank Group (AfDB) |

Government of Flanders Grants 1 Million Euros to the Africa Climate Change Fund to Support 5 Projects in Malawi, Mozambique and South Africa

The new contribution follows an initial grant of two millions euros to the Africa Climate Change Fund (ACCF) in November 2016 by the Flanders government, bringing the total contribution to the ACCF to 11.4 million euros

The Government of Flanders this year has committed 1 million euros to the Africa Climate Change Fund (ACCF) (http://bit.ly/34JgdzF) to support five projects in three African countries - Malawi, Mozambique and South Africa. In Malawi, the project will contribute to “demonstration of an innovative results-based finance model for adaptation to…

Source: African Development Bank Group (AfDB) |

2019 Global Gender Summit: to achieve new impetus towards gender parity, all stakeholders need to act in five priority areas

Gender equality is not a western agenda, it is not somebody else agenda; it’s a global agenda for growth for inclusive growth for economic development, for society to thrive

Africa needs new impetus in its journey towards gender parity. Making progress on any single indicator of gender inequality is likely to require systematic action on a range of indicators by governments, companies, communities, and individual men and women. A new McKinsey Global Institute (MGI) report prepared with McKinsey &…

Source: African Development Bank Group (AfDB) |

“Women are an excellent investment”: finance leaders call for increased support for in women in business

In Africa, 70% of women are excluded financially and there is a $42 billion financing gap between men and women

Leaders from multilateral development banks, financial institutions and the private sector called on peers to dispel myths about women being too “high risk” for financing - and to offer more financial services for women in business to close the gender finance gap. “We know that women are a good bet.…

Source: African Development Bank Group (AfDB) |

Global Gender Summit 2019: "Put prejudice behind us and give women access to finance," says Akinwumi Adesina

According to Adesina the financial sector had a responsibility to the women of Africa

African Development Bank (AfDB.org) President Akinwumi Adesina has called for greater access to finance for African women when he addressed the inaugural session of the Global Gender Summit. "When women borrow, they always repay. And 90% of them repay their loans without the least problem. So, where is the risk?…