The African Development Bank (AfDB), has signed a 75 million dollar loan agreement with Nigeria’s Indorama Eleme Fertilizer and Chemicals Limited. The bank announced this in a statement issued on its website late Thursday. According to the statement, the loan will enable Indorama to increase its fertilizer production...
AfDB
By SADIQ ABUBAKAR, Maiduguri – Borno State Governor, Babagana Zulum, on Tuesday, visited the African Development Bank (AfDB) office in Abuja, the Federal Capital Territory to facilitate the implementation of all Inclusive Basic Service Delivery and Livelihood Empowerment Integrated Project (IBSDLEIP) in Borno State. IBSDLEIP is a multi-sectoral...
By MBAFAN ADE – The Board of Directors of the African Development Bank (AfDB) Group has approved a $50 million loan for the Yobe State Environmental and Climate Change Action Project (ECCAP) to enhance climate change resilience, boost food security, and improve livelihoods for over 3.5 million people in...
On Saturday 9th March 2024, scores of my friends and brothers from across the globe including the US-based talented visual artist, Sunday Oluwasomi, the scion of the late Olisa Raymond Olusoga (Prime Minister of Akure Kingdom) Engr Taiwo Olusoga, Aquinarian Tunde Aladenola, and a host of others called my...
The African Development Bank (AfDB) is supporting Nigeria in the cultivation of rice, maize, cassava and soyabeans to boost food production. The bank is providing 134 million dollars to achieve this, it president, Dr Akinwunmi Adesina, said on Saturday after visiting the Centre for Dryland Agriculture (CDA) at...
The real Gross Domestic Product (GDP) growth for Africa is expected to average 3.8 per cent and 4.2 per cent in 2024 and 2025. The African Development Bank (AfDB) said this in its latest Macroeconomic Performance and Outlook (MEO) report. In a statement issued on the Bank’s website,...
The African Development Bank (AfDB) has raised an alarm that rising prices of fuel and other commodities could lead to social unrest in Nigeria, Ethiopia, Angola and Kenya. The AfDB sounded the warning in its macroeconomic performance and outlook for 2024 in which it projected Africa’s economy to...
President Bola Tinubu has said Nigeria is ready to host the African Central Bank in line with the vision of the Abuja Treaty. He said this at the 37th Ordinary Session of the Assembly of Heads of State and Government of the African Union (AU) in Addis Ababa,...
The African Development Bank (AfDB), says it will commence the disbursement of US$540 million to the first batch of states for the development of Special Agro-Industrial Processing Zones (SAPZs). Senior Special Adviser on Industrialisation to the AfDB President, Prof. Banji Oyelaran-Oyeyinka, made this known while presenting a report...
By MBAFAN ADE (Business Correspondent) – The African Development Bank (AfDB), has decided to withdraw all its international staff from Ethiopia immediately. In addition to the international staff leaving Addis Ababa, the AfDB office will remain open under an Officer-in-Charge, the bank said in a statement issued in...
In its efforts to tackle illicit financial flows and corruption in Africa, the African Development Bank (AfDB) has begun the training of relevant stakeholders to build their capacity. The Acting Director and Division Manager, Policy Management at the African Development Institute of the AfDB, Dr Eric Ogunleye, said...
The Africa Investment Forum (AIF), has mobilised close to 142 billion dollars in investment interest since 2018. The African Development Bank (AfDB) in a statement, said the AIF was a dynamic, multi-stakeholder platform focusing on continental deal making, facilitating connections between project sponsors, policy makers and investors. To...
The African Development Bank(AfDB) Group’s Board of Directors has approved a 7.88 million dollars grant from the Sustainable Energy Fund for Africa (SEFA) for the Africa Energy Transition Catalyst (AETC) Programme. The bank in a statement, said the programme is aimed at increasing renewable energy generation across the continent....
The African Securities Exchanges Association (ASEA) and the African Development Bank (AfDB) Group are collaborating to expand the number of linked African exchanges from seven to 15. We The Bank in a statement said the expansion was under the second phase of the African Exchanges Linkage Project (AELP). According...
The African Development Bank (AfDB) President, Dr Akinwumi Adesina, has pledged the Bank’s support toward revamping Nigeria’s economy.adesi Adesina, made the pledge during a meeting with Nigeria’s President, Bola Tinubu at the New Global Finance Pact Summit in Paris. The AfDB president, via his verified Twitter handle, @akin_adesina said:...
By DAVID IORJA, Abuja – President Bola Ahmed Tinubu has welcomed an investment of $520 million in specialised agro-processing zones by the African Development Bank (AfDB), praising the leader of the multilateral institution, Dr Adewunmi Adesina, for further opening up the economy for investments that provide job opportunities and...
By DAVID IORJA, Abuja – President Bola Ahmed Tinubu Friday in Paris-France said Nigeria will sustain its spotlight on African countries as the fulcrum of its policies on economy and foreign policy, assuring that trade issues, security and border controls will be mutually implemented. Receiving the President of Benin...
The African Development Bank (AfDB), says addressing plastic pollution requires effective multi-stakeholder partnerships among the government, private sector, youth groups and Civil Society Organisations (CSOs) . The Director-General, Nigeria Country Department of AfDB, Lamin Barrow, in a statement, was quoted to have spoken at a Webinar to commemorate the...
African Development Bank (AfDB) President, Dr Akinwumi Adesina, says Africa has the necessary partnerships and technologies to eradicate hunger. In a statement issued on the banks website, Adesina said what Africa needed was action, including robust financing to achieve this. He spoke during the opening session of the 8th...