The African Development Bank (AfDB) says the 430 million dollars highway project linking Enugu to Bamenda in Cameroon will be completed this year. The bank, in a statement issued on Monday, said that it was part of its investments in West Africa which currently stood at 16 billion dollars. The statement quoted the President of […]
By Doosuur Iwambe The President of African Development Bank (AfDB) Dr. Akinwunmi Adesina, has announced that the bank is set to undertake its ‘Desert to Power’ initiative in Nigeria to meet up the challenge of power failure. Adesina who made this known within the week at the African Investment Conference organized by the UK’s Department […]
African Leaders for Nutrition (ALN) has unveiled a position paper calling on African Heads of State and Governments to ensure that financing for nutrition is included in their country’s COVID-19 response and recovery plans. The call was made in a statement from African Development Bank (AfDB) in Abuja. The position paper titled: “Embedding Nutrition within […]
African Development Bank (AfDB) has forecasted that Nigeria and the rest of the continent will suffer a Gross Domestic Product (GDP) loss of $189.7 billion in 2020. AfDB, in its African Economic Outlook report released on Tuesday, stated that Africa could suffer GDP losses in 2020 between $145.5 billion (baseline) and $189.7 billion (worst case). […]
The African Development Bank Group has appointed Wambui Gichuri as Acting Vice President, Agriculture, Human and Social Development, The bank, in a statement distributed by the African Press Organization (APO), Group, the appointment takes effect from July 5, 2020. Wambui joined the African Development Bank Group in 2018 as Director, Water Development and Sanitation. She currently […]
The African Development Bank (AfDB) has announced that it will launch its African Economic Outlook 2020 Supplement on Tuesday, July 7 through a live Zoom event holding from 13:30 to 15:00 (Nigerian time). The African Economic Outlook is the bank’s flagship tool for policy dialogue, economic intelligence, and operational effectiveness, widely read by policymakers, investors, […]
Nasdaq on Wednesday announced the inclusion of the African Development Bank (AfDB), one of the world’s largest issuers of social bonds, in the Nasdaq Sustainable Bond Network (NSBN). READ ALSO: COVID-19: Police vows to arrest, prosecute violators in Enugu The NSBN is a global and publicly available platform designed to improve transparency in the market […]
This period of pandemic-induced high deficit spending by many African governments is hardly a good time to talk about increasing contributions to pan-African institutions. However, the apparent overreach of the U.S. in the African Development Bank crisis leaves little choice. But truth be told, Akinwumi Adesina’s problems at the African Development Bank (AfDB) are not […]
The African Development Bank’s vice president for agriculture, human and social development, Jennifer Blanke, will step down from her post next month, the bank said on Wednesday. A statement quoted Blanke, who joined the bank in 2017, as saying she was leaving “purely for family reasons to rejoin my family in Switzerland”, amid media speculation […]
African Development Bank (AfDB) has announced the 100 finalists from the #AfricaVsVirus challenge ideathon to find solutions to challenges raised by the COVID-19 pandemic in Africa. About 25,000 participants from across Africa and beyond joined the online platform to pitch their ideas for innovative solutions to the health and economic challenges caused by the virus. […]
The Board of Directors of the African Development Bank has appropriated a total sum of $288.5 million loan to assist Nigeria tackle the COVID-19 pandemic and mitigate its impact on people and businesses. The bank’s Communications and External Relations Department made this known in a statement on Saturday. It explained that the loan would bolster the government’s […]
Abuja – The Board of Directors of the African Development Bank (AfDB) has approved Nigeria’s Country Strategy Paper (CSP) 2020-2024, which builds on the successes and challenges of the 2013-2019 edition. The bank’s Communications and External Relations Department in a statement on Friday said the strategy was approved on May 27. It stated that the […]
The African Diaspora Congress (ADC) says the United States is “jostling for power in Africa” by “unduly interfering” in the leadership of the African Development Bank (AfDB). ADC, a coalition of various African Diaspora organisations, said this in a statement in New York on Tuesday. The statement was jointly signed by its Secretary-General, Prof. Apollos […]
The Board of Governors and the Ethics Committee of the African Development Bank (AfDB) have given Dr. Akinwumi Adesina, the Bank’s president, a clean bill of health in a report dated May 5, wherein it is stated that Adesina has been “entirely exonerated of all allegations made against him.” The background to that development is […]
The African Development Bank Group has announced the debarment of China Zhonghao Nigeria Limited, a civil engineering company registered in Nigeria, for 18 months, for fraudulent practices. An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that China Zhonghao Nigeria Limited, as a member of a joint venture with Oceanic Construction and […]
African Development Bank (AfDB) has denied claims that the institution plans to provide financial support to the East African Crude Oil Pipeline Project. The Bank in a statement refutes the claims which reference a letter by a group of civil society organisations and climate change advocates asking the institution to withdraw from the project due […]
There are many blights in Daniel F. Runde’s Op-ed on Africa Development Bank (AfDB) that he penned for The Hill—an American news website, based in Washington, D.C—in the summer of 2019, but it at least set off a deadly wind inside the operations of the 54-year-old multilateral development finance institution. On Sunday, April 5, President […]
The African Development Bank (AfDB) says Nigeria is making progress in rice production and processing. Mr Ebrima FAAL, Senior Country Director of the bank, stated this while suggesting measures to be taken for quick economic recovery during an interview on Thursday. FAAL said this achievement should be scaled up and broadened to other sectors and […]
The African Development Bank (AfDB) says the $1.1 billion Nigeria budget support request from the bank will be responded to quickly through its fast disbursing crisis budget support facility. Mr Ebrima FAAL, Senior Country Director of the bank said on Thursday. Nigerian Army distributes preventive kits FAAL explained that the Federal Government requested for one […]
The African Development Bank Group on Wednesday announced the creation of the COVID-19 Response facility to help regional member countries containing the pandemic. The Facility is the latest measure taken by the Bank to respond to the pandemic and will be the institution’s primary channel for its efforts to help curb the crisis. Akinwumi Adesina, […]