First Independent Mena Newspaper
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 […]
The African Development Bank (AfDB) and Tunisia inked a deal Wednesday for a $87.1-million credit facility for the financing of a project to support the inclusive and sustainable development of the cereals industry (PADIFIC), local reports say. Samir Saied, Tunisia’s Minister of Economy and Planning and AfDB’s Deputy Director General for North Africa Malinne Blomberg […]
Benin has secured an 80 million euros loan facility from the African Development Bank (AfDB) to improve and expand Cotonou harbor, one of the main maritime access points for landlocked countries in West Africa. The loan is split into two: €55 million from the African Development Bank and €25 million from Africa Growing Together Fund, […]
The African Development Bank, AfDB, rubber-stamped Tuesday a €400 million partial credit guarantee for Côte d’Ivoire, to support the mobilization on international financial markets for strategic environmental, social and governance (ESG) projects. “The partial credit guarantee will enable Côte d’Ivoire to raise long-term financing from commercial banks, in line with its ESG Framework. Côte d’Ivoire […]
The rise in cost of debt servicing has led to 25 countries in Africa being at risk of either high debt distress or in-debt distress, African Development Bank (AfDB) Group president has warned, just as the International Monetary Fund (IMF) has approved billion-dollar loans to Zambia and Senegal. AfDB chief, Akinwumi Adesina, said African markets […]
The African Development Bank, AfDB, has made equity investment worth $11 million in Luxemburg-based BluePeak Private Capital Fund to support mid-size firms, including in the pharmaceuticals, agribusiness, manufacturing, and logistics sectors, across Africa. The Abidjan-based bank in a statement said BluePeak – a flagship private capital fund – will provide growth capital to middle-sized companies […]
The African Development Bank has announced a €120-million funding to support Morocco’s efforts to improve women-children’s healthcare in rural areas, especially in the regions of Beni Mellal-Khenifra, Draa-Tafilalet and Guelmim-Oued Noun. The bank’s financial support is destined to improve access to healthcare centers, modernize health services through innovative solutions that improve connectivity and streamline their […]