First Independent Mena Newspaper
The African Development Bank Group will commit $10 billion over the next five years to boost Africa’s efforts to end hunger and become a primary food provider for itself and the rest of the world, AfDB President, Dr Akinwumi Adesina, announced at the Dakar 2 Africa Food Summit in Diamniadio, east of the Senegalese capital, […]
The African Development Bank predicts the continent’s growth will be stronger-than-expected at 4% this year. Its cautiously optimistic economic outlook is partly based on the expectation that China will continue to re-open after three years of strict Covid-19 policies “Despite the confluence of multiple shocks, growth across all five African regions was positive in 2022- […]
Morocco has contributed $5 million to the African Development Fund (ADF), which provides concessional funding for projects, technical assistance for studies and capacity-building activities in Africa. The Moroccan contribution was made during the Fund’s 16th replenishment meeting convened in Tangier Dec.5-6 to raise money for low-income African countries to enable them counter social and economic […]
Morocco will make a contribution to replenish the African Development Fund, a concessional funding window of the African Development Bank. “The decision reaffirms Morocco’s willingness and commitment to help African states in line with the King’s enlightened vision to foster African solidarity and prosperity,” Finance Minister Nadia Fettah Alaoui said in a speech read on […]
Warning the continent has 600-million people in energy poverty, the right of African countries to use their natural gas reserves should be reflected in any deal at the COP27 climate talks, African Development Bank (AfDB) President Akinwumi Adesina said, even as some nations push to see use of the fuel curtailed. Agreeing to a deal […]
Launched in 2019 by the African Development Bank Group (AfDB) and its partners, the Desert to Power initiative to increase solar generation capacity to provide 250 million people with electricity access across Africa’s Sahel region for socio-economic development continues to attract financial support from around the world. The Desert to Power initiative is designed to […]
The African Development Bank (AfDB) will grant Morocco two loans worth $286 million to finance two programs related to the development of cereal growing and the generalization of social coverage. The first loan, worth €199 million (around MAD 2.16 billion) will go to the Support Program for the Competitive & Resilient Development of Cereals (PADCRC), […]
The African Development Bank, AfDB, has accorded $80 million credit facility earmarked to enhance food self-sufficiency and security, through securing the supply of soft wheat, barley and fertilizers. The loan deal was signed Thursday between Samir Said, Tunisia’s Minister of Economy and Planning and Mohamed El Azizi, the Director General, Regional Development and Service Delivery […]
The economies of East Africa face rather bleak prospects for growth this year because of the increasing risk of debt distress, widening fiscal and current deficits and limited economic diversification plans, according to the latest forecast by the African Development Bank (AfDB). The AfDB forecasts the region’s GDP at 4% this year, before recovering to […]
The African Development Bank has approved a €199 million loan to finance Morocco’s competitive & resilient cereal development program to help boost food security, nutrition, and crops resilience across Africa. The program will help reduce Morocco’s cereal imports, focusing on improving productivity and the resilience of cereal production to climate change. It also provides for […]