African Development Bank Group

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African Development Bank Group News

AfDB to invest $25 million in Abraaj Growth Markets Health Fund

The AfDB board of directors recently approved a $25 million equity investment in the Abraaj Growth Markets Health Fund, a contribution that will allow the fund to finance lower-middle and low-income segments of the African population. The fund addresses investment capital needs of growing health care demands that have risen due to the continent’s rapid urban growth. Read More »

ALSF concludes PPP training in infrastructure projects

The ALSF training on PPP in infrastructure projects ended Friday. The training started Monday in Marseille, France, and included PPP infrastructure experts from Burkina Faso, Cameroon, Cote d'Ivoire, Senegal, Togo, Congo, Mauritania and Nigeria. The training program, presented by the ALSF's Nomadic PPP, dealt with institutional, legal, contractual and financial aspects of PPPs. Read More »

AfDB plan works to provide Africa with universal access to energy

The African Development Bank Group (AfDB) announced its New Deal on Energy for Africa plan Wednesday to provide universal access to energy in Africa by the year 2025. The New Deal on Energy for Africa is part of the AfDB's Transformative Partnership on Energy. The AfDB will work with the World Economic Forum in Davos, Switzerland, to bring the plan to fruition. Read More »

African Development Bank, Benin conduct mining management training

The ALSF is partnering with Benin to improve the management of the country's mining sector in Dakar. ALSF officials will review sample mining contracts with representatives of various state ministries. As more international companies negotiate deals for harvesting Africa's natural resources, ALSF officials said they were holding the training to increase African's acumen. Read More »

Cape Verde to develop wave-powered desalination system with SEFA grant

Cape Verde was recently awarded a grant in the amount of $930,000 by the African Development Bank-hosted SEFA to develop the world’s first wave-driven desalination system. Called Wave2O, the system will be located in Praia Grande, Cape Verde, and will operate completely “off-grid,” supplying more than 48,000 people with clean fresh water at a competitive cost. Read More »

Ministers of finance call for agricultural transformation in Africa

Ministers of finance from the continent called for an "agricultural transformation" at the Feeding Africa Conference Oct. 23.   Christopher Mvunga, deputy minister of finance for Zambia, said commercially borrowed funds could be best used for updating agricultural infrastructure. Zambia has spent $250 million of the $1.5 billion it has accrued from international sovereign bonds. Read More »

AfDB funds $19.5 million in food improvements in São Tomé, Príncipe

The African Development Bank Group (AfDB) will provide $19 million of financing over five years to improve food security in São Tomé and Príncipe. More than two thirds of Africa's second smallest country live in poverty, and more than 20 percent don't have a secure food supply. The funding plans to train 16,000 farmers and 3,000 fishermen on producing and marketing their products. Read More »

AfDB holds first tech summit to find solutions for women, youth

The AfDB welcomed 160 young entrepreneurs and techies from around West Africa to its headquarters in Abidjan Oct. 9 to 11 for its Innovation Weekend. A major focus of the meeting was to generate tech-based solutions in order to bring more women and young people into the workforce. Approximately 60 percent of unemployed people in Sub-Saharan Africa are between 15 to 24 years old. Read More »

AfDB, KfW partner to advance African agriculture

Kfw and the African Development Bank (AfDB) unveiled a program Oct. 22 to advance agriculture throughout Africa at the Feeding Africa conference. The goal of the program is to develop solutions to spur the growth of agriculture in Africa by increasing access to financing options in the agricultural sector. AfDB promotes sustainable economic growth and poverty reduction in Africa. Read More »

African Development Bank Group approves $428 million for infrastructure projects

The Board of Directors of the African Development Bank Group (AfDB) has approved a combined $428.4 million in loans and grant to finance energy, infrastructure, transport and water and sanitation projects in eight African countries. Under the approvals, Ghana Airports Co. Ltd. will receive a loan of $120 million to finance its capital investment program. Read More »

AfDB, Obama continue Africa energy partnership

African Development Bank Group President Akinwumi Adesina and U.S. President Barack Obama met at the 70th United Nation's General Assembly on Sept. 29 to confirm their continued partnership of bringing power to Africa. The meeting comes on the heels of President Obama's Power Africa initiative that looks to ensure that Sub-Saharan Africans have double the access to electricity. Read More »

African Development Bank, Senegal to bring water program to West African nation

The African Development Bank (AfDB) and the Senegalese Ministry for Water Resources and Sanitation will roll out a $54 million program to make water and sanitation accessible in rural areas.  The water and sanitation program to be implemented in Senegal is in line with the United Nation's Sustainable Development Goals' (SDG) No. 6 pledge, which mandates that water and sanitation be available for everyone.  Read More »