News - AfDB

Afdb Invests $50m Equity In AFC

3 weeks ago /
Finance  Nation 

The African Development Bank on Wednesday announced a $50m equity investment in African Finance Corporation.

UN Secretary General, Guterres Agrees To Chair Fundraiser To Revive Lake Chad

7 months ago /
Nation 

President Muhammadu Buhari has welcomed the acceptance of the United Nations Secretary-General, Antonio Guterres, to co-chair a special session to raise $50 billion to fund the inter-basin water transfer from Central Africa to revive the Lake Chad.

African Development Bank Invests Over $4.5bn In Nigeria

7 months ago /
Nation 

President of the African Development Bank, AFDB, Akinwumi Adesina says the bank is currently investing in sixty operations worth four point five billion us dollars in Nigeria.

BIZ: Nigeria To Set Up Production Hubs

8 months ago /
Business and Economy  

Nigeria has announced a target to double its manufacturing output to 20 percent of its Gross Domestic Product, GDP within six years and will set up production hubs across the country in partnership with regional aid banks.

ECOWAS To Get $22m Grant From Afdb For Abidjan-Lagos Highway

10 months ago /
Nation 

The Economic Community of West African States, ECOWAS, has signed a 22 million dollar grant retrocession agreement with the African Development Bank for the technical design to develop the Abidjan-Lagos highway.

AFDB Stamps Malawi’s Economic Plan

1 year ago /
Business and Economy  

The African Development Bank has approved its Country Strategy Paper for Malawi for 2018-2022 to boost the economic diversification and reduce the country’s dependency agriculture and build infrastructure the economic for growth in the  Country.

Egypt Receives Last Tranche Of $ 500M AFDB Loan

1 year ago /

Egypt’s investment ministry on Friday said it has received the third and last $500 million tranche of a $1.5 billion African development bank loan which will support the government’s development programmes,

Dogara Submits Nomination Form

1 year ago /
Politics 

The Speaker of Nigeria’s House of Representatives, Yakubu Dogara, is in the Peoples Democratic Party’s (PDP) secretariat, Abuja, to submit his nomination form.

AFDB To Support Nigeria, Others On Industrial Policy

1 year ago /
Business and Economy  

The African Development Bank (AfDB) says it will support five countries with industrial policies to help boost development in the region.

AFDB To Invest $56 Billion In Creating Industries Across Africa

1 year ago /
Business and Economy  

The Africa Development Bank says about fifty six billion dollars will be invested in creating industries and markets to grow the GDP of Africa and provide employment opportunities for millions of unemployed youths on the continent.

Buhari Congratulates Akinwumi Adesina

2 years ago /
Nation 

President Muhammadu Buhari says Nigeria remains proud of its former minister of agriculture, Akinwumi Adesina, for winning the 2017 world food prize laureate. Adesina, who is the president of the African development bank (AFDB), will today be presented the $250,000 prize and laureate sculpture at a ceremony at the IOWA state...

 

Osun Govt Provides 163 Water Facilities In Schools

2 years ago /
Nation 

The Osun State Government has provided about 163 water facilities and 326 gender friendly latrines in public schools for effective menstrual hygiene management. The Programme Manager, Osun State Rural Water Environmental Sanitation Agency (RUWESA), Posi Adiatu stated this in Osogbo while speaking during the 2017 Menstrual Hygiene Day. Adiatu, noted that government...

DBN Plans 20,000 Credit Facilities To SMEs In First Year

2 years ago /
Business and Economy  

Development Bank of Nigeria plans to give out up to 20,000 new loans to small businesses within its first year of operation as part of efforts to help unlock credit to the economy. Small scale enterprises make up 60 percent of Nigeria’s economy.  Chief Executive Officer of DBN, Tony Okpanachi, told...

AFDB Approved $600M Loan For Nigeria As Budget Support

3 years ago /
Nation 

The African Development Bank’s Board of Directors on Wednesday approved a $600m loan for Nigeria, several months after the Federal Government had approached the lender for a budget-support facility. The loan is meant to help Nigeria plug its budget deficit as the nation grapples with its first recession in more than...

Korea Approves $18m Financial Assistance For Africa’s Economic Transformation

3 years ago /
International News 

The African Development Bank (AfDB) and the Korean Ministry of Strategy and Finance have signed an Exchange of Letters announcing Korea’s grant of $18 million to the KOAFEC Trust Fund for the year 2017-2018. The KOAFEC Trust Fund is AfDB’s largest bilateral fund. Under the agreement, Korea will support the Bank’s...

Nigeria Seeks $1billion AfDB Loan

3 years ago /
Nation 

Nigeria is in talks with the African Development Bank (AfDB) for a $1 billion loan to help cover its 2016 budget deficit, the finance minister, Kemi Adeosun said on Monday. She said the loan would be concessionary  and carry an interest rate of 1.2 percent. “We are talking with AfDB for a $1 billion...

AfDB Worries Over Post-Harvest Losses

3 years ago /
Business and Economy  

The challenge of post-harvest losses in Africa has a assumed a major worry to the African Development Bank (AfDB), calling for immediate solutions. The bank said that reports indicate that post-harvest losses in Africa are equivalent to the annual caloric requirement of 48 million people, and worth US $4 billion in...

The African Development Bank Earmarks $175m For Agric Transformation In The North-west Region

3 years ago /

The African development bank has earmarked $175 million dollars for Agricultural Transformation Agenda Support Programme (ATASP-I)  as an instrument for consolidating the banks investment in the Nigeria agricultural sector. The country’s director Dr. Ousmane Dore had disclosed that the recognition of its ongoing efforts to transform agriculture from subsistence to agribusiness....

 

Agriculture: FG To Launch N59.7bn Youth Scheme In September

3 years ago /
Gender and Youth Development 

Dr Nteranya Sanginga, Director-General, International Institute of Tropical Agriculture (IITA), on Sunday said the Federal Government would launch N59.7 billion Youth-In-Agriculture Scheme in September. Sanginga, who disclosed this in an interview with the Newsmen in Ibadan, said the scheme would be sponsored by the federal government and African Development Bank (AFDB). The...

FG seeks $3.5bn emergency loans from World Bank

3 years ago /
Nation 

A projected deficit of $11bn, or 2.2 per cent of gross domestic product, had already risen to $15bn, or 3 per cent, due to the recent turmoil in oil markets. It was reported that the Federal Government has asked the World Bank and African Development Bank (AfDB) for $3.5 billion in emergency loans to...


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