The President of African Development Bank (AfDB), Dr. Akinwumi Adesida, has decried the lack of adequate financing for tackling climate change in Africa, saying that paucity of funds is “choking” the continent. Adesina, who made this remark on Monday while addressing journalists at a media lunch organized to kick off the bank’s 2023 Annual Meetings […]
The African Development Fund (ADF), the concessional window of the African Development Bank Group (AfDB) providing grants and soft loans, has approved $8.9 billion to its 2023 to 2025 financing cycle to support low-income countries in the continent. The $8.9 billion package, which is the largest replenishment in the history of the Fund, was approved […]
The African Development Bank (AfDB) has reported that the Africa Investment Forum (AIF) Market Days held this year drew a total of $63.8 billion in investment interest from African and global investors to the continent. The development finance institution gave this figures in a statement hoisted on its website on Monday. According to the bank, the 2021 Africa […]
A global campaign for aid and development transparency organisation, Publish What You Fund, has rated the African Development Bank (AfDB) as the most transparent organization in the world. The development finance institution’s Sovereign Portfolio with a top score of 98.5 now ranks first out of 50 global development institutions in Publish What You Fund’s 2022 […]
The African Development Bank Group (AfDB) has reported that its cumulative profit over the last 10 years totalled $2.5 billion, close to the $3.6 billion paid by shareholders for the 6th General Capital Increase in 2010, despite the disruptions of the Covid-19 pandemic to the global economic order in the past two and a half […]
The African Development Bank Group (AfDB) has warned African countries, including Nigeria, of a looming surge in the prices of food, and energy among others in the coming months as the Russia-Ukraine war continues its disruptive impact on global food supply chain. In a statement on its website, the bank attributed the warning to its […]
The African Development Bank Group (AfDB) has taken another remarkable financing step to further address the infrastructure gap in African countries with the approval of its first strategic framework for the development of public-private partnerships. The initiative follows approval by the development finance institution’s Board of Directors on 19 January 2022. Analysts estimate that Africa’s […]