First Independent Mena Newspaper
The Mohammed VI Investment Fund (FM6I) and the African Development Bank (AfDB) signed a Letter of Intent, aimed at increasing funding sources for productive investment and strengthening the role of the private sector in Moroccan economy. This partnership, sealed on the sidelines of the Africa Investment Forum 2023, held last week in Marrakech, will allow […]
Africa Development Bank (AfDB) has announced the launch of the Special Agro-Industrial Processing Zones Alliance (SAPZ) to mobilize at least $2 billion in financing and investment commitments from its members to develop the continent’s food and agribusiness industry over the next five years. The project has been hailed as a significant step towards making Africa […]
Abdourahmane Diaw, the African Development Bank (AfDB) country manager for Egypt, has revealed the Abidjan-based lender will provide the North African country with $350 million in financing for public and private development projects before the end of 2023. The financing will go to the private sector via credit lines to loaning companies and bank and […]
The two-day Global Gateway Forum that wrapped up in Brussels on Thursday (26 October 2023) saw the European Union sign three strategic partnerships with its partners to develop critical raw materials value chains and boost transport connectivity. During the event, the 27-member bloc signed three Memoranda of Understanding (MoU) — for a partnership on critical […]
The African Development Bank (AfDB) is supporting Morocco’s efforts to enhance inclusive access to healthcare, improve employability of vulnerable people through training, and provide urgent assistance to the families affected by Al Haouz earthquake. In this connection, three financing agreements worth €270 million were signed Tuesday in Rabat by the Bank and the North African […]
Côte d’Ivoire’s economic hub Abidjan will host on October 3-5, the African Development Bank Group’s fifth Africa Resilience Forum, a summit to explore innovative solutions to fill the financing gaps for African countries experiencing conflict and facing increasing insecurity. “The event will also advance discussion on how to mobilize resources at scale at the nexus […]
Almost $1 billion will be disbursed by the African Development Bank (AfDB) to young entrepreneurs to help tackle climate change on the continent, AfDB President Akinwumi Adesina announced, noting that failing to invest in the youth will hurt Africa. In an effort to combat climate change, the AfDB and the Global Centre on Adaptation (GCA) […]
North African countries are projected to see a slight increase in economic growth to 4.6% in 2023 and 4.4% in 2024, and should make green growth an urgent priority, according to the latest North Africa Economic Outlook report published by the African Development Bank (AfDB). In the report titled “Mobilizing Private-Sector Financing for Climate and […]
The African Development Bank (AfDB) has approved a $70 million risk-sharing agreement with Morocco’s Banque Centrale Populaire (BCP) to develop foreign trade. This agreement is the second with BCP and is part of a program entitled “50/50 risk-sharing agreement for Morocco’s Banque Centrale Populaire”. It takes place in a context of tightening capital adequacy and […]
The Board of Directors of the African Development Bank has approved a $1 billion exposure exchange with the Asian Development Bank that aims to strengthen their capital adequacy levels and boost their lending capacity. The transaction, sealed last week, will support AfDB efforts to unlock additional sovereign lending headroom. It will also bolster continued efforts […]