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The Latest Breaking News from African Development Bank

African Development Bank Calls For End To Resource-Backed Loans

African Development Bank's push to end natural resource-backed loans due to exploitation concerns and promote sustainable financing for infrastructure proj...

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Zimbabwe debt clearance tied to farmers' compensation and credible polls

The African Development Bank has moved to fast-track Zimbabwe’s $3.5 billion compensation to white farmers whose land was seized under former president Robert Mugabe’s reforms. The bank is leading efforts to clear Zimbabwe’s crippling debts.

Radio France Internationale

Egypt to Host AfDB Meetings Next May

Egypt’s preparation are underway for the annual meetings of the African Development Bank (AfDB) in Sharm El-Sheikh next May. Egypt's President Abdel-Fattah El-Sisi affirmed on Tuesday his country’s keenness on maintaining African interests in all forms and at all levels. Sisi met with the African Development Bank Chairman Akinwumi Adesina…

Asharq Al-Awsat

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Development partners commit $30 billion to food production in Africa

Development partners have committed $30 billion to boost food production in Africa over the next five years, said Akinwumi Adesina, president of the African Development Bank, during closing remarks at a food security summit on Friday.

Reuters

Africa needs to learn to feed itself, says Senegal president

Africa must produce more food instead of relying on imports and aid, Senegalese President Macky Sall told leaders gathered in the West African nation's capital for a summit on Wednesday.

Reuters

Bankers bet billions on new wave of debt-for-nature deals

The Galapagos Islands, whose thousands of unique species inspired Darwin's theory of evolution, have incalculable ecological value. But what are they worth?

Reuters

‘Not fair’: Ghana slams West over low funding for climate change

Western countries said they will spend about $25bn by 2025 to help Africa adapt to climate change but pledged only $55m.

Al Jazeera

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African leaders: Richer nations must pay more to prepare for climate change

African leaders called on Monday for their counterparts from richer, polluting nations to increase funding for projects to help them adapt to climate change.

Reuters

As Africa's climate warms, rich countries pledge more funds

Rich countries said they will spend about $25 billion by 2025 to boost Africa’s efforts to adapt to climate change as the continent continues to struggle with drought, cyclones and extreme heat, according to officials at a summit in Rotterdam in the Netherlands on Monday

The Independent UK

Africa must end food, pharma import dependence, AfDB president says

Africa must wean itself off dependence on food and medicine imports, the president of the African Development Bank (AfDB) said, as the institution approved creation of a pharmaceutical tech foundation and began processing requests for food relief.

Reuters

Lenders pledge $26.1 billion to Ivory Coast 2021-25 plan

Multilateral and bilateral lenders on Wednesday made a series of pledges to support Ivory Coast's 2021-25 Development Plan totalling $26.1 billion, Prime Minister Patrick Achi said.

Reuters

War in Ukraine adds to food price hikes, hunger in Africa

Families across Africa are paying about 45% more for wheat flour as Russia's war in Ukraine blocks exports from the Black Sea

The Independent UK

Climate change: Crisis and opportunities for Africa

With nine out of the 10 countries in the world most vulnerable to climate change coming from the continent, Africa faces a particularly stark existential threat. But in the race to make Africa’s development climate resistant, there is also determination, innovation and cooperation. Our team went to Ghana’s capital Accra,…

France 24

African Development Bank to send emergency fertiliser to W Africa

A source told Reuters that emergency volumes will be sourced from Nigeria and Morocco.

Al Jazeera

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Reuters

African Development Bank approves $1.5 billion emergency food facility

The African Development Bank on Friday approved a $1.5 billion emergency food production facility for 20 million farmers on the continent to avert a looming food crisis brought on by Russia's invasion of Ukraine, a statement from the bank said.

Al Jazeera

AfDB president: Ukraine war could trigger a food crisis in Africa

Akinwumi Adesina believes the Russia-Ukraine war will have a ripple effect on food security and energy supply.

The Conversation

South Africa and international financial institutions: a liaison group could recalibrate relations

Since the onset of the COVID pandemic in 2020, South Africa has borrowed a total of about US$7 billion (about R106 billion). The money has come from the International Monetary Fund, the New Development Bank, the African Development Bank, and the World Bank.

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