African Development Bank (AfDB) Archives

CONSTRUCTION OF 444KM COASTAL HIGHWAY PROJECT BEGINS IN LIBERIA

Posted on July 13, 2023 by Gambeta News

The government of Liberia and the African Development Bank (AfDB) have finalized discussions to kick-start the construction of the 444km long coastal highway before 2023. The joint initiative aims to drive economic growth and development, particularly in the Southeastern region of Liberia. On Tuesday, July 11, 2023, an AfDB delegation comprising Mr. Rufus Darkortey, Executive Director of the Bank, Dr. Benedict Kanu, Country Manager of the Bank in Liberia, and Jean-Noel Ilboudo, held a meeting…

AFDB APPROVED US$3.9M FOR LIBERIA INFRASTRUCTURE PROJECT

Posted on March 24, 2023 by Gambeta News

The African Development Fund’s Board of Directors has approved a US$3.9 million grant to finance an upgrade of Liberia’s payments infrastructure and systems project. The approval of the grant from the Bank’s concessional lending window was made on 17 March. The project’s primary objective is to strengthen the payments ecosystem in Liberia for increased efficiency and to foster growth and innovation. It targets automated cheque processing and automated clearing house (ACP/ACH) and real-time gross settlement…

AFDB APPROVED US$161M LOAN FOR TANZANIA KAKONO HYDROPOWER PROJECT

Posted on March 18, 2023 by Gambeta News

Tanzania government has signed a loan agreement of 161.47 million US dollars (about 374.9bn/-) with the African Development Bank (AfDB), to implement Kakono Hydropower Project (Kakono HPP). The approximate cost of execution of the Kakono HPP is 325 million US dollars (about 750bn/-). Speaking during the signing ceremony in Dar es Salaam, Minister for Finance and Planning, Dr Mwigulu Nchemba said the overall development objective of Kakono HPP is to increase on-grid energy production from…

AfDB GRANT TUNISIA €103.95M FOR ROAD INFRASTRUCTURE MODERNALISATION PROJECT

Posted on March 8, 2022 by Gambeta News

African Development Bank (AfDB) has approved a loan agreement worth €103.95 million (equivalent to 335 million Dinars) to Tunisia to finance the Road Infrastructure Modernisation Project, Phase 2 (PMIR II). The second phase of this project will aim at rehabilitating 230.6 km of roads in the governorates of Siliana, Kasserine, Kairouan, Sidi Bouzid, and Gafsa. It will also include the development of Enfidha – Kairouan road into 2×2 lanes, said Minister of Public Works and Housing…

EXPERTS ANALYSE THE KEY TO AFRICA’S POST COVID-19 ECONOMIC PROSPERITY

Posted on January 21, 2021January 21, 2021 by Gambeta News

Renewable energy will be a critical driver of Africa’s post-COVID-19 growth recovery and economic prosperity, panelists in a 2021 UK Africa Investment Summit event said Wednesday, as they called for a stronger partnership between the United Kingdom and Africa. The panel, themed UK & Africa: Partnering in Sustainable and Resilient Infrastructure Development, covered discussion of British innovation and experience in the context of partnering with Africa to advance its economic development. Panel members said investment in…

AfDB PLEDGES TO MOBILISE $6.5 BILLION TO SUPPORT GREAT GREEN WALL INITIATIVE

Posted on January 14, 2021 by Gambeta News

The Sahel region’s Great Green Wall Initiative received a major boost from the African Development Bank on Monday. During a forum hosted by French President Emmanuel Macron and His Royal Highness the Prince of Wales, the Bank pledged to assist in mobilising up to $6.5 billion over five years, to advance the landmark initiative. The resources will be made available through a range of programmes in support of the Great Green Wall by drawing on…

HIGHLIGHTS OF THE ACHIEVEMENTS OF THE AFRICAN DEVELOPMENT BANK SINCE 2015

Posted on August 28, 2020August 28, 2020 by Gambeta News

Adesina’s first term focused on the bold new agenda for the Bank Group based on five development priorities known as the High 5s: Light up and Power Africa; Feed Africa; Industrialize Africa; Integrate Africa; and Improve the Quality of Life for the People of Africa. During Adesina’s first term, the Bank achieved impactful results on the lives of 335 million Africans, including: 18 million people with access to electricity; 141 million people benefiting from improved…

DR. AKINWUMI ADESINA RE-ELECTED AS AfDB PRESIDENT

Posted on August 28, 2020 by Gambeta News

Dr. Akinwumi A. Adesina will serve a second five-year term as President of the African Development Bank Group, after his relection by the Board of Governors during the 2020 Annual General Meeting. Dr. Adesina has distinguished himself despite the challenges he faced in his re-election bid. According to the Chairperson of the Board of Governors of the Bank, Mrs. Niale Kaba, Minister of National Planning of Côte d’Ivoire, Dr Adesina received a hundred percent of…

NIGERIA STANDS SOLIDLY BEHIND AKINWUMI ADESINA

Posted on June 5, 2020 by Gambeta News

“Some lies have been concocted against me to render me ineligible for a second term as AfDB president. The bank has its rules, regulations and laws. And part of it is that any allegation must be substantiated with facts, evidence and documents. This is so that there can be believability, and nobody can act out of malice. “In all the 16 allegations against me, there were no facts, no evidence, no document. The Ethics Committee…

AFRICA’S FIRST SILICON VALLEY

Posted on November 19, 2019 by Gambeta News

Rwanda will host Africa’s first Silicon Valley. Kigali the capital of Rwanda is becoming one of Africa’s fastest developing cities with groundbreaking infrastructural facilities boosting the country’s economy. The Eastern African country as of late propelled Africa’s first electronic cross fringe exchange stage in collaboration with Alibaba Group’s Electronic World Trade Platform (eWTP) to connect private ventures over the mainland. Another masterpiece is the Kigali Innovation City that has been a Pan Africa Human and…

AfDB LOANS USD 455 MILLION FOR CONSTRUCTION OF TANZANIA’S NEW AIRPORT

Posted on November 1, 2019November 1, 2019 by Gambeta News

African Development Bank (AfDB) approves USD 455 million for the construction of a ring road and Tanzania’s new airport in the new capital Dodoma. The President of AfDB Akinwumi Adesina approved the loan at the bank’s headquarter in Abidjan in a meeting with the Minister of Foreign Affairs and East African Cooperation Palamagamba Kabudi. According the Adesina the loan was approved a means of supporting the economical improvement noticed with President John Magufuli. Also he…