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...
AfDB
The African Development Bank (AfDB) has approved a $1.5 billion emergency programme to alleviate the impact of worsening food insecurity due to the Ukraine war, its director said on Monday. About 20 million farmers on the continent will benefit from the fund as Africa faces a shortage of at least 30...
The African Development Bank (AfDB) says the cost of bread is now beyond the reach of many households in Africa due to food price increases caused by the Russia-Ukraine conflict. Dr Akinwumi Adesina, the President of the Bank’s Group, said this in a speech posted on AfDB’s official Twitter...
President Muhammadu Buhari has urged the World Bank, African Development Bank (AfDB) and other partners to support the One Planet Summit initiative and activate the US$19 billion pledge. He said the pledge, meant for the activities of the Pan African Great Green Wall Agency (PAGGW), would be utilized for...
The African Development Bank’s (AfDB) Africa Digital Financial Inclusion (ADFI) facility will receive 15 million dollars to develop and extend digital financial solutions to women-owned small and medium businesses in Africa. The bank on its website, on Wednesday, said that Women Entrepreneurs Finance Initiative (We-Fi) said the new round...
By DAVID IORJA, Abuja -. President Muhammadu Buhari has commended the Africa Development Bank (AfDB) for planning ahead of whatever negative consequences may come from the Russia-Ukraine war in terms of food security. The President spoke Tuesday at State House, Abuja, during an audience with the AfDB President, Dr...
It is no longer in doubt that the President Muhammadu Buhari led Federal Government has become reputed for clarifying problems without proffering solution, What is however worrying is that their (FG) persistent inabilities to promptly respond to the socioeconomic need of Nigerians has adversely turned public affair commentators, development...
The African Development Bank (AfDB) and other co-financing partners’ portfolio in Nigeria increased by 2.031 billion dollars between 2019 and 2021. The Director-General, Nigeria Country Department, Mr Lamin Barrow, disclosed this on Thursday in Abuja at the opening of the 2022 Country Portfolio Performance Review (CPPR) workshop. According to...
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said Nigeria’s economy remained the largest in Africa with over N400 billion in Gross Domestic Product (GDP). The minister said this at the 21st edition of Town Hall Meeting on the achievements of the Federal Government in infrastructure...
By OLA MUDOPE, Lagos – The Board of Directors of the African Development Bank (AfDB) has approved a loan of $170 million to finance a digital and creative enterprises program in Nigeria. NATIONAL ACCORD reports that the investment in Digital and Creative Enterprises Program (i-DICE) is a Federal Government...
By OLA MUDOPE, Lagos – The Board of Directors of the African Development Bank (AfDB) has approved a line of credit of €70 million and an equity investment of $24 million, to be granted to the West African Development Bank. The line of credit will support businesses in the...
When Tony Elumelu, founder of Tony Elumelu Foundation, while speaking on the topic; “Philanthropy and Development; Where are Africa’s Billionaires?”, at one of the high level seminars that characterized the African Development Bank, AfDB, 2013 annual general meeting, held at Marrakech, Morocco, advised African billionaires to invest in developing...
By EZEKIEL OBI, Abuja – African Development Bank (AfDB) has approved a $210 million loan that could impact the lives of millions of people in Africa’s most populous country. The loan, which was approved by AFDB’s Board of Directors would co-finance Phase 1 of the Nigeria Special Agro-Industrial Processing...
The African development Bank (AfDB) on Thursday said it had disbursed a total of 3.2 billion U.S. dollars as its contribution to combat the effects of Coronavirus (COVID-19) in Africa. Prof. Kevin Urama, Acting Chief Economist and Vice President, Economic Governance and Knowledge Management, AfDB, disclosed this at the...
The African Development Bank (AfDB), has earmarked $110 million for projects under the Special Agricultural Processing Zone in Kano State. The Chief Press Secretary (CPS) to Gov. Abdullahi Ganduje of Kano State, Mr Abba Anwar, stated this in a statement issued in Kano on Sunday. Anwar quoted the AfDB...