Despite concerns being expressed by analysts about Nigeria’s rising debt stock, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, announced on Sunday that the Federal Government had secured approval of the World Bank for $2.25 billion loan. Edun, who gave this hint during a press conference at the annual meetings […]
The African Development Bank (AfDB) has published a report clarifying the legal framework, processes and governance for a call on the callable capital by the institution. Callable capital refers to the portion of the bank’s capital that is subscribed by shareholders but not immediately paid, and represents a commitment to make additional capital available to […]
The African Development Bank (AfDB) has signed a $75 million loan agreement with Nigeria’s Indorama Eleme Fertilizer and Chemicals Limited. The loan will enable Indorama to increase its fertilizer production and develop a port terminal for exports, supporting food production and food security across regional and international markets, while fostering job creation in Nigeria. A news […]
The Board of Directors of the African Development Bank Group (AfDB) has approved a $50 million loan for the Yobe State Environmental and Climate Change Action Project (ECCAP) to enhance climate change resilience, boost food security, and improve livelihoods for over 3.5 million people in North East Nigeria. A news report from African Press Organisation […]
The African Development Bank (AfDB) and the International Organization for Migration (IOM) has released a joint report designed to support practitioners and decision makers to turn migration into a force for development in Africa. The report titled ‘Diaspora Engagement, Climate-Induced Migration and Skills Mobility: A Focus on Africa’ examines the impact of migration on human […]
…As 49% Of Population Lives In Slums The President of African Development Bank (AfDB), Dr. Akinwumi Adesina, has charged the Nigerian government to urgently introduce welfarist policies needed to ensure all Nigerians have access to basic and affordable housing. Adesina, who gave the charge in his lecture at the occasion where he was honoured with […]
The African Development Bank has committed $80 million in loan financing to the Ekiti Knowledge Zone (EKZ) project aimed at transforming the region into a hub for digital innovation and knowledge economy. Spanning 40 hectares of land, the Ekiti state-led pioneering special economic zone project is designed to foster linkages between educators, researchers, innovators, entrepreneurs, […]
The Board of Directors of the African Development Bank Group (AfDB) has approved the proposal to take an initial stake of up to $10 million in the “Alliance for Green Infrastructure in Africa – Project Development” (AGIA-PD)” Fund as part of its investment supports for successful green transition of African countries. A news report from […]
The African Development Bank Group (AfDB) and the Consortium of International Agricultural Research Centres (CGIAR) committed last Thursday to strengthen their collaboration to increase food production and provide better nutrition for Africa’s growing population. A news report from African Press Organisation (APO) Group circulated on behalf of the bank on the collaboration indicated that with […]
The African Development Bank (AfDB) has launched and priced a USD 2 billion 3-year Social Global Benchmark due 25 February 2027, its first social bond issued under its new Sustainable Bond Framework, established in September 2023. The Sustainable Bond Programme consolidates and enhances the development finance institution’s existing Green and Social Bond programmes, facilitating the […]