AfDB

  • economy

    SEC partners AfDB to boost Nigeria’s green finance leadership

    The Securities and Exchange Commission (SEC), in collaboration with the African Development Bank (AfDB), is enhancing Nigeria’s role as Africa’s foremost hub for green and sustainable finance. This is made known in a statement made available by the commission on Sunday in Lagos. The commission said that it aimed to establish Nigeria as a focal point for green and sustainable…

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  • economy

    Africa loses $15bn annually due to climate change — AfDB president

    Dr Akinwumi Adesina, president of the African Development Bank (AfDB), says Africa loses between seven billion dollars and 15 billion dollars annually due to climate change. The President of the bank, Dr Akinwumi Adesina said this during an interview with the British Broadcasting Corporation (BBC), which was monitored by the News Agency of Nigeria (NAN). According to him, this is…

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  • Featured

    AfDB approves increased capital of $117bn to support Nigeria, others

    The Board of Governors of the African Development Bank (AfDB) Group, has approved a capital increase of 117 billion dollars to further support Nigeria and other countries on the continent. The AfDB President, Dr Akinwumi Adesina, said this at the closing of the 2024 Annual Meetings of the bank in Nairobi. “So the Board of Governors of the AfDB approved…

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  • NEWS

    Africa needs $402.2bn annually to boost structural transformation by 2030- AfDB

    Africa needs to close a financing gap of about 402.2 billion dollars annually by 2030 to fast-track its structural transformation. Dr Akinwumi Adesina, the president of the African Development Bank (AfDB), said this during the presentation of the African Economic Outlook (AEO) 2024 at the ongoing AfDB Annual Meetings in Nairobi. “The report highlights the glaring inadequacies of the current…

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  • Featured

    Africa loses $7bn to $15bn yearly to climate change- Adesina

    Dr Akinwunmi Adesina, the Group President, African Development Bank (AfDB), said Africa is  losing about seven to 15 billion dollars annually to the ravages of climate change. Adesina said this during a media conference in Nairobi on the sidelines of the ongoing AfDB Annual Meetings 2024. The News Agency of Nigeria (NAN) reports that the meeting marks the 60th anniversary…

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  • economy

    AfDB invests $1.44bn in nigeria’s infrastructure

    The African Development Bank (AfDB) has invested $1.44 billion in Nigeria to support the development of key infrastructure sectors including energy and power, transport, water, and sanitation. This significant funding was announced by the Director General of the Bank’s Nigeria Country Department, Lamin Barrow, during the Nasarawa Investment Summit 2024, held in Lafia, the capital of Nasarawa State. The summit,…

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  • economy

    AfDB, American Bank Support IMF’s Groundbreaking Decision

    The International Monetary Fund’s (IMF) Executive Board has given its approval for the inclusion of hybrid capital as an eligible instrument to channel Special Drawing Rights (SDRs). This decision has garnered support from the African Development Bank Group (AfDB) and the Inter-American Development Bank (IDB). The innovative solution proposed by AfDB and IDB aligns with the IMF’s criteria for international…

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  • economyAfDB strengthens collaboration with CSOs

    AfDB strengthens collaboration with CSOs

    The African Development Bank (AfDB) says it is solidifying its partnership with civil society organizations (CSOs) in West Africa. The AfDB, in a statement issued on its website, said this was deliberated during the bank’s fruitful mission to Ghana. The statement said the mission focused on advancing an agreement signed between the bank and the West Africa Civil Society Institute…

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  • economyJapanese minister commends AfDB President Adesina, pledges support to Africa’s development

    Japanese minister commends AfDB President Adesina, pledges support to Africa’s development

    The Japanese Vice Minister of Finance, International Affairs, Masato Kanda, has reiterated the continued commitment of his country to partnering with the African Development Bank (AfDB). According to Kanda, the aim is to drive development across Africa. Kanda, in a statement issued by the bank on Sunday, said this when he visited the AfDB president, Dr. Akinwunmi Adesina, at the…

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  • economy

    Nigeria Excluded from Top 11 African Growth Projections for 2024: AfDB Report

    Addis Ababa, Ethiopia, February 19, 2024: Nigeria, Africa’s most populous nation and largest economy, is conspicuously absent from the list of 11 African countries expected to experience robust economic growth in 2024, according to the latest report from the African Development Bank Group (AfDB). Released during the 37th Ordinary Session of the Assembly of the African Union in Addis Ababa,…

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  • Africa

    AfDB boss commends Nigerian govs on regional devt. approach

    Addis-Ababa (Ethiopia) Nov. 18, 2023 (NAN) Seven newly elected Nigerian Governors visited the African Development Bank (AfDB) Group President, Akinwumi Adesina, in Abidjan to strengthen cooperation and unlock the country’s vast agricultural potential. A statement issued by the Bank on Saturday, said the delegation was led by Katsina State Governor Dikko Radda. The News Agency of Nigeria (NAN) reports that…

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  • Featured

    2023: Women group urges AfDB’s President Adesina to run for presidency

    A group of women activists, under the aegis of “Women for Secured Nation”, has urged the president of the African Development Bank (AfDB), Dr. Akinwumi Adesina, to run for the office of Nigerian President in 2023. The group made the call in a statement by its Media and Publicity Director, Mrs. Judith Onyekwere, on Sunday  in Benin. The group described…

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  • Featured

    AfDB provides $14m grant to boost food security in South Sudan

    African Development Bank (AfDB) on Monday announced a 14 million U.S. dollar grant to boost food security, value addition and trade in South Sudan. Benedict Kanu, AfDB country manager for South Sudan, said the five-year project would be implemented by the Food and Agriculture Organization of the United Nations (FAO) in conjunction with the Ministry of Agriculture and Food Security.…

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  • Featured

    COVID Omicron Variant- Ban on African countries unfair, discriminatory — Adesina

    Dr. Akinwumi Adesina, the President African Development Bank (AfDB) says the travel ban on some African countries over Omicron,  the new COVID-19 variant  is “very unfair, non-scientific and discriminatory”. Adesina, who said this through his verified twitter handle @akin_adesina, urged the western countries to lift the travel ban on the African countries He queried why travel ban was not placed…

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  • economy

    AfDB board approves $35m facility for Ecobank International affiliates, EBI SA

    The Board of Directors of the African Development Bank (AfDB) has approved a 35 million U.S. dollar unfunded risk-sharing facility for Ecobank International affiliates, EBI SA, to support trade finance activities in Africa. In a statement issued by Mr Kwasi Kpodo of the Communication and External Relations Department, AfDB, on Thursday in Abidjan, Ivory Coast, the approval was given on…

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  • economy

    AfDB says investments must be tailored to needs of ECOWAS Regional Member Countries

    The African Development Bank Group (AfDB) has said the Economic Community of West African States (ECOWAS) investments must be tailored to the needs of Regional Member Countries. Dr. Akinwumi Adesina, President, AfDB, disclosed this in his keynote address at the 22 Ordinary Session of Assembly of Health Ministers of ECOWAS, on Friday in Abuja. Adesina said the investment needed must…

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  • economy

    AfDB to incorporate AfCFTA in its country, regional integration strategies –Adesina

    The African Development Bank (AfDB) has said it would incorporate the African Continental Free Trade Area Agreement (AfCFTA) into its country and regional integration strategies. A statement from the AfDB on Saturday, quoted the its president, Dr. Akinwumi Adesina, as saying this while receiving the AfCFTA Secretary-General, Wamkele Mene, in Abidjan, on Tuesday. Adesina said the implementation of the free…

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