By SADIQ ABUBAKAR, Maiduguri – In the wake of the devastating floods that hit Borno State in September 2024, the African Development Bank (AfDB) has offered a $1 million contribution from its Special Relief Fund to support emergency food response for flood-affected communities in Borno State, North East, Nigeria....
AfDB
The African Development Bank (AfDB) has committed more than 2 billion dollars in supporting 15.3 million people affected by crises in Lake Chad Basin within a decade. Lead Coordinator for West and Central Africa at AfDB, Dr Riadh Ben Messaoud, shared the bank’s accomplishments at Panel Session in the...
The African Development Bank (AfDB) is set to start releasing a $2.2bn fund for the development of Special Agro-Industrial Process Zones in Nigeria (SAPZ). Director General of AfDB Nigeria Office, Abdul Kamara, made this known during Channels Television’s 2024 End-Of-Year Review with the theme, ‘Focus on the Agriculture Sector,...
The African Development Bank Group (AfDB) has said it would construct a new state-of-the-art headquarters building in Abidjan, Côte d’Ivoire. AfDB said this in a statement on Tuesday that the decision was approved by the bank’s Boards of Directors. The bank emphasised the importance of maintaining a strong presence...
A financial expert, Mr Wale Shonibare, has urged the Federal Government to prioritise power sector infrastructure development to drive the country’s industrial growth. Shonibare, made the call in an interview with the News Agency of Nigeria, (NAN) on the sidelines of the African Investment Forum, Market Days 2024, which...
The African Development Bank (AfDB) has provided key insights into how Nigeria and other African nations can address their growing debt burdens and foreign exchange challenges. The Bank’s Vice-President for Economic Governance and Knowledge Management, Prof. Kevin Urama, told the News Agency of Nigeria (NAN) that strategic borrowing and...
The Bank of Industry (BoI) has secured a 50 million dollars loan portfolio from the African Guarantee Fund (AGF). This is in a bid to empower women entrepreneurs and drive economic growth in Nigeria. This innovative guarantee framework agreement is backed by the African Development Bank’s (AfDB) Affirmative Finance...
The Abidjan-Lagos corridor highway is set to become a powerful economic and industrial hub courtesy of the Spatial Development Initiative promoted by the African Development Bank (AfDB). Mr Mike Salawou, Director of the Infrastructure and Urban Development Department at the AfDB, said this in a statement. NAN reports that ...
Nigeria ranked sixth among 54 countries in the African Development Bank (AfDB) and African Union’s 2024 African Visa Openness Index (AVOI) report. The News Agency of Nigeria (NAN) reports that the AVOI tracks visa-openness on African continent and how easy it is for African citizens to travel to other...
The Federal Government has secured a loan facility of 134million dollars from the African Development Bank (AfDB) to help farmers boost seeds and grain production in the country. This is contained in a statement issued by Mrs Anthonia Eremah, Chief Information Officer, Ministry of Agriculture and Food Security on...
The African Development Bank (AfDB) said on Monday that it approved financing worth 70 million euros for Moroccan lender Bank of Africa, to promote access to trade finance in Africa. The AfDB said in a statement that the trade finance facility comprises a Risk Participation Agreement (RPA) of 50...
The Director-General of West Africa Region, African Development Bank (AfDB), Lamin Barrow, has said the banks’s cumulative financing approvals in Nigeria stands at 10.9 billion dollars. Barrow said this at the Second Interactive Session and Workshop on Developing Bankable Business Proposals/Business Plans for Youths in Agriculture on Monday...
By MBAFAN ADE, Business Correspondent – The African Development Bank (AfDB) Group has appointed Lamin Barrow, an economist, as the Director-General for the West Africa Region, effective June 1, 2024. Barrow’s appointment came just as the Board of Directors of the AfDB approved a grant funding of $8.6 million...
The African Development Bank (AfDB) has said it plans to support Nigeria’s power sector with one billion dollars to boost electricity. AfDB Vice President, Power, Energy, Climate Change and Green Growth Complex, Dr Kevin Kariuki, said this on Thursday at the Eight Africa Energy MarketPlace (AEMP) Forum in...
Dr Chuma Ezedinma, Agricultural Economist at African Development Bank (AFDB), says the Special Agro-Industrial Processing Zone programme (SAPZ), will create jobs for no fewer than 200,000 residents in Anambra. Ezedinma spoke with newsmen on the sidelines of a meeting tagged “Preparation Mission for the Development of the...
The World Bank Group (WBG) and African Development Bank(AfDB) Group are partnering to provide no fewer than 300 million people in Africa with electricity access by 2030. This is contained in a statement issued by the World Bank Online Media Centre , a copy made available to the...
The African Development Bank (AfDB), has signed a 75 million dollar loan agreement with Nigeria’s Indorama Eleme Fertilizer and Chemicals Limited. The bank announced this in a statement issued on its website late Thursday. According to the statement, the loan will enable Indorama to increase its fertilizer production...
By SADIQ ABUBAKAR, Maiduguri – Borno State Governor, Babagana Zulum, on Tuesday, visited the African Development Bank (AfDB) office in Abuja, the Federal Capital Territory to facilitate the implementation of all Inclusive Basic Service Delivery and Livelihood Empowerment Integrated Project (IBSDLEIP) in Borno State. IBSDLEIP is a multi-sectoral...
By MBAFAN ADE – The Board of Directors of the African Development Bank (AfDB) Group 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...
On Saturday 9th March 2024, scores of my friends and brothers from across the globe including the US-based talented visual artist, Sunday Oluwasomi, the scion of the late Olisa Raymond Olusoga (Prime Minister of Akure Kingdom) Engr Taiwo Olusoga, Aquinarian Tunde Aladenola, and a host of others called my...