By OLA MUDOPE, Lagos – Africa must use all its comparative advantages to mobilise the resources it needs to finance its sustainable development ambitions. The African Development Bank (AfDB) Group made the call in a statement on its website on Tuesday. The statement reported the Organisation for Economic Co-operation...
AfDB
African Development Bank (AfDB) says the African continent faces an annual GDP shortfall that could exceed 127.2 billion dollars by 2030. It stated on Friday that the shortfall would occur if current trends in climate finance flow into Africa continued. “Africa may lose as much as 12 per cent...
The African Development Bank (AfDB), have signed a 525,000 dollar agreement to support Africa Fintech Network’s (AFN)’s Hub project. Mr Lamin Barrow, the Director-General, AfDB, Nigeria Country Department, during the signing in Abuja on Tuesday, said the project would boost the fintech industry on the continent. `This grant of...
Gov. Ademola Adeleke of Osun has directed the establishment of a support desk for Osun tech innovators and entrepreneurs. This is to allow them access the recently launched 618 million dollars tech fund by the African Development Bank (AfDB). This is contained in a statement by Malam Olawale Rasheed,...
African Development Bank (AfDB) said it invested about US$ 5.2 billion in supporting and strengthening water and sanitation resilience for almost 97 million Africans in 10 years. A statement issued on AfDB’s website said the bank, since 2015, had invested an average of US$ 900 million yearly to support...
The African Development Bank (AfDB), has signed a 362,000 Euros grant agreement with Hadejia Jama’are Komadugu Yobe Basin-Trust Fund. The bank in a statement said the grant would prepare additional studies under the second-phase of developing a strategic plan for managing water resources in the Komadugu-Yobe Basin in northern...
The Board of Directors of the African Development Bank (AfDB) Group, has approved a dual-currency Trade Finance Line of Credit (LoC) for ECOWAS Bank for Investment and Development (EBID). In a statement issued on the website of the AfDB, the LoC comprises 50 million dollars and 50 million euros....
President Muhammadu Buhari has welcomed the provision of 538.05 million Dollars for the first phase of the Special Agro-Industrial Processing Zones (SAPZ) for Nigeria programme. The facility was provided by the African Development Bank, the Islamic Development Bank and the International Fund for Agricultural Development. Mr Femi Adesina, the...
Dr Akinwumi Adesina, the President, African Development Bank (AfDB) Group, says that Africans in the diaspora are critical to Africa’s economic development. Adesina said this at the Global Community of Practice (G-COP) policy dialogue being hosted by the bank in Abidjan, Côte d’Ivoire. The dialogue is tagged “Development without...
The Global Energy Alliance for People and Planet, has announced 35 million dollars support to the Sustainable Energy Fund for Africa (SEFA), under the Desert to Power initiative. This was contained in a statement by the Communication and External Relations, African Development Bank (AfDB), issued on Monday. It stated...
President Muhammadu Buhari on Thursday called for good neighbourliness and mutual understanding between African states to enhance trade and security and to promote development of the continent. Mr Femi Adesina, his media aide, stated in Abuja that Buhari made the call at the inauguration of the Nigeria/Cameroon Joint Border...
…..Says agricultural sector turnaround in sight By DAVID IORJA, Abuja – Vice President Yemi Osinbajo on Monday said with the launch of the Special Agro-industrial Processing Zone (SAPZ) programme, Nigeria can, in less than a decade, banish food insecurity, while radically improving export earnings from agriculture, creating millions of...
By DAVID IORJA, Abuja – President Muhammadu Buhari will on Monday inaugurate the Special Agro-industrial Processing Zones (SAPZ) initiative for Nigeria. The SAPZ initiative is being done in collaboration with the AfDB, Islamic Development Bank (IsBD), and the International Fund for Agricultural Development (IFAD). The government of Nigeria is...
The African Development Bank (AfDB), has inaugurated a multinational project to create jobs and improve livelihoods for youth in three African countries. This is contained in a statement issued by Mr Ezekiel Chukwuemeka, AfDB Group, Nigeria Country Department. According to Chukwuemeka, the project will support young farmers in Nigeria,...
The Board of Directors of the African Development Bank (AfDB) Group has approved a 50-million-dollar Risk Participation Agreement (RPA) for Natixis, a French Bank. This is contained in a statement by Fahd Belbachir, Senior Communications and External Relations Officer for North Africa, AfDB. The agreement would enable Natixis to...
Africa has been losing from five per cent to 15 per cent of its Gross Domestic Product (GDP) per capita growth because of climate change and its related impacts. Group Acting Chief Economist and Vice President, African Development Bank (AfDB), Mr Kevin Urama, said this in a statement posted...
The Minister of Agriculture and Rural Development, Dr Mohammad Abubakar, says the Federal Government is working to ensure Nigeria becomes the largest producer of wheat in Africa. Abubakar gave the assurance at the Stakeholders Validation Workshop of the National Wheat Strategy Document for Self- Sufficiency on Tuesday in Abuja....
The Federal Government has obtained a 134-million-dollar loan from the Africa Development Bank to boost wheat production. Minister of Agriculture and Rural Development, Dr Muhammad Mahmoud Abubakar, said this in Abuja, while briefing State House correspondents on the implementation of the presidential mandate given to the ministry. He explained...
The global community is presently in agreement that just as an unchained torrent of water submerges whole country sides and devastates crops, even so, lack of strong will, unclear policy direction as well as government’s inability to create substantial innovative fiscal space serves but to destroy the nation’s education...
The African Development Bank (AfDB) says Africa needs an annual investment of 32 to 40 billion dollars along the energy value chain to achieve universal access for electricity by 2030. The AfDB’s African Economic Outlook 2022 unveiled at the Bank’s Annual Meetings on Thursday in Accra, Ghana, said the...