NIGERIA – the minister of finance and coordinating minister of the economy, Wale Edun, says the federal executive council (FEC) has approved a $1.58 billion loan request. Edun said the loan request is split into two; $1.5 billion from the World Bank and $80 million from the African Development Bank (AfDB). The minister revealed the approval after […]
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Akinwunmi Adesina, President of the African Development Bank Group (AfDB),, has said that Africa must prepare for the inevitability of a global food crisis. Adesina was speaking about Africa’s priorities as a guest at the Atlantic Council’s Africa Centre, Washington. Fielding questions from the Council’s Africa Center Chair, Ambassador Rama Yade and other senior members […]
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Akinwunmi Adesina, President of the African Development Bank Group, has said Africa will lose up to 30 million jobs by the end of 2020. He said this at the ‘Virtual 2020 International Forum on African Leadership’ in Ivory Coast on Friday. Adesina, who was Nigeria’s Minister of Agriculture, said the lockdown occasioned by the COVID-19 […]
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The Vice President for Agriculture, Human and Social Development at the African Development Bank, AFDB, Dr Jennifer Blanke, has resigned from her position, PUNCH reports. The bank made this known on Wednesday in a statement, saying Blanke’s resignation would take effect from 4th July 2020. She was quoted as saying:- “I am leaving purely for […]
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The African Development Bank has raised an exceptional $3 billion in a three-year bond to help alleviate the economic and social impact the Covid-19 pandemic will have on livelihoods and Africa’s economies. The Fight Covid-19 Social bond, with a three-year maturity, garnered interest from central banks and official institutions, bank treasuries, and asset managers including […]
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The Executive Council of the African Union has supported Dr. Akinwumi Adesina’s candidacy for a second term as President of the African Development Bank (www.AfDB.org). The decision was taken during the thirty-sixth Ordinary Session of the AU Executive Council, held during the AU Summit in Addis Ababa, Ethiopia, 6-7 February 2020. Adesina was elected to […]
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Tony O. Elumelu, CON, has congratulated the African Development Bank (AfDB), and AfDB President Akinwumi Adesina, on their commitment to African entrepreneurship, with the disbursement of $2.5million seed capital to the AfDB-sponsored beneficiaries of the 2019 TEF Entrepreneurship Programme. $2.5m was released today, with the remainder expected to be disbursed to the entrepreneurs in Q12020. The […]
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The Board of the African Development Bank (www.AfDB.org) on Wednesday approved a $22 million Senior Loan to help Egypt’s Corporate Leasing Company (Corplease) expand its operations in the North African country. The decision signaled confidence in a burgeoning local market and in the Egyptian economy as a whole. The Bank will mobilize $7 million of […]
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The African Development Bank (AfDB) has advised Nigeria to formulate appropriate and sustainable strategies to promote agro-industrialisation to foster domestic and export competitiveness in the agro-business industry. The statement by the bank’s Communication and External Relations Department, reported Prof. Banji Oyelaran-Oyeyinka, Senior Special Advisor on Industrialisation to AfDB President to have given the advice at […]
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Three years ago, Anthony, then 11, showed signs of stunted growth as observed by African Development Bank (www.AfDB.org) President Akinwumi Adesina during a visit to Madagascar’s Bas Mangoky region. To the Bank chief, the boy looked no more than 5 years of age. “I was transfixed by one of the children attracted by my helicopter […]
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