African Development Bank

Sep32020 by KMA UpdatesNo Comments

Dr. Akinwumi Adesina, eighth President of the African Development Bank, sworn in for second term

AFRICA

ABIDJAN, Ivory Coast-- “Yesterday, a rainbow stretched from the 81 member countries of the African Development Bank across the deep blue skies of Africa...The future beckons us for a more developed Africa and a much stronger and resilient African Development Bank.” With these powerful words President of the African Development Bank Group (www.AfDB.org), Dr. Akinwumi Adesina addressed participants after formally being sworn into office for a second term Tuesday. President Adesina’s historic re-election took place last week. The swearing-in ceremony, which took place at the Bank’s Abidjan headquarters was presided over by newly appointed Chair of the Board of Governors, Ghanaian Finance Minister Kenneth Ofori-Atta, who administered the Oath Office. Several presidents attended the v...

Sep22020 by KMA UpdatesNo Comments

“We must help Africa build back boldly, but smartly,” says African Development Bank President Adesina

AFRICA

ABIDJAN, Ivory Coast -- In a speech kicking off his second term as African Development Bank (https://www.AfDB.org/) chief, newly sworn in President Akinwumi Adesina unveiled a sweeping vision to consolidate the institution’s successes of the last five years, hone the Bank’s operations and exploit opportunities and urgency created by the COVID-19 pandemic. “The COVID-19 pandemic has changed everything globally. It has thrown Africa’s growth back,” Adesina said. “Now, we must help Africa build back boldly, but smartly, paying greater attention to quality growth: especially in the areas of health, climate and the environment.” Adesina outlined four strategic pillars: ‘Institution’, ‘People’, ‘Delivery, and ‘Sustainability, that will drive five top-level goals...

Aug282020 by KMA UpdatesNo Comments

Highlights: Day 1 of the African Development Bank’s 2020 Annual Meeting

AFRICA

ABIDJAN, Ivory Coast -- Video presentations showcased COVID-19 pandemic and the African Development Bank’s efforts to cushion member countries against its impacts; Côte d’Ivoire President Alassane Ouattara and President Adesina commend close and strong ties between the host country and the African Development Bank (www.AfDB.org). The opening day of the African Development Bank’s 2020 55th Annual meeting showcased the strong relationship between Africa’s pre-eminent financial institution and its host country, Côte d’Ivoire. The meeting, held virtually for the first time to comply with COVID-19 pandemic social-distancing guidelines, caps a productive but ultimately challenging year for the institution and the countries it serves. "This is an opportunity for me to sal...

Aug272020 by KMA UpdatesNo Comments

2020 Annual Meetings: African Development Bank President Akinwumi Adesina seeks a second term “to serve Africa”

AFRICA

ABIDJAN, Ivory Coast, August 27, 2020/ -- African Development Bank (www.AfDB.org) President Akinwumi Adesina on Wednesday made a case for his re-election as head of the institution, saying that he wanted to fulfil “his sense of duty and commitment.” Adesina recalled that his current five-year term as head of the African Development Bank Group was marked by the implementation of five strategic priorities for the continent’s development, known as the “High 5s.”“Five years ago, right here in Abidjan, you elected me president of the African Development Bank. It was a huge responsibility to shoulder. I promised that I would work tirelessly to accelerate Africa’s development. My vision, focused on the High 5 priorities, was my commitment, my promise, my compass,” Adesina said during a virtua...

Aug272020 by KMA UpdatesNo Comments

Opening Speech by Dr. Akinwumi A. Adesina, President of The African Development Bank at The 2020 Annual Meetings of The African Development Bank Group

AFRICA

ABIDJAN, Ivory Coast -- Your Excellency, President Alassane Ouattara, President of the Republic of Côte d’Ivoire, • Honorable Minister Niale Kaba, Chairperson of the Board of Governors • Honorable Governors • Members of the Board of Directors • Senior management and staff of the Bank • Ladies and Gentlemen 1. Good morning and welcome to the 2020 Annual Meetings of the African Development Bank (https://www.AfDB.org/). 2. The family of the African Development Bank has grown from 80 countries to 81 countries. Please join me in welcoming our newest member of the family, the Republic of Ireland, who are joining us formally for the first time at the Annual Meetings. 3. I would like to express my deep appreciat...

Aug272020 by KMA UpdatesNo Comments

2020 Annual Meetings of the African Development Bank: a renewed commitment to economic resilience in Africa

AFRICA

ABIDJAN, Ivory Coast, -- The 55th Annual Meetings of the African Development Bank (www.AfDB.org) and the 46th meetings of the Board of Governors of the African Development Fund (ADF) began in Abidjan, Côte d’Ivoire, on Wednesday, 26 August 2020. In his opening speech, the President of Côte d’Ivoire, Alassane Ouattara, highlighted the unusual context of this year’s Annual Meetings, taking place against the backdrop of the COVID-19 pandemic. He also underscored the Bank’s critical support for his country and other regional members.“This is an opportunity for me to acknowledge the African Development Bank, its President and Board of Directors, for the unwavering support expressed in these difficult times to African states. Indeed, the Bank's COVID-19 Rapid Response Facility has made it p...

Jul72020 by KMA UpdatesNo Comments

African Development Bank appoints new Acting Vice President- Agriculture, Human and Social Development

AFRICA

ABIDJAN, Ivory Coast, July 7, 2020/ -- The African Development Bank Group (www.AfDB.org) is pleased to announce the appointment of Wambui Gichuri as Acting Vice President- Agriculture, Human and Social Development, effective 5 July 2020. Wambui joined the African Development Bank Group in 2018 as Director, Water Development and Sanitation. She currently oversees the Bank’s water sector program of over $ 4.5 billion covering 44 countries and multinational projects. Wambui Gichuri, Acting Vice President- Agriculture, Human and Social Development at AFDB Wambui supervises two divisions: the Water Development, Coordination and Partnerships, and Water Security and Sanitation divisions, as well as the African Water Facility divisions, a project preparation facility. She also leads the ...

Jul32020 by KMA UpdatesNo Comments

BUSINESS: African Development Bank joins World Trade Organisation (WTO) and other Multilateral Development Banks (MDB)s to support trade finance amid COVID-19 crisis

AFRICA, Business

ABIDJAN, Ivory Coast, July 3, 2020/ -- The African Development Bank Group has joined the World Trade Organisation and other multilateral development banks to reduce trade finance gaps that emerge as a result of the COVID-19 pandemic.In a joint press release issued 1 July 2020, the institutions said they would prioritize their support to areas in the world where such support is needed most, particularly the poorest countries.Since the beginning of the COVID-19 outbreak, multilateral development banks have stepped up their trade finance programs to support essential imports and key exports, as international correspondent banks have cut lending in many countries. In addition to the ongoing shocks to supply and demand, international trade has been affected by a reduction in the supply of tr...

Mar132020 by ShafiqNo Comments

Business: African Development Bank approves $121.7 million loan, Euro 3 million grant to support water and sanitation sector in Namibia.

Business

ABIDJAN, Ivory Coast, March 12, 2020/ -- The Board of Directors of the African Development Bank (https://www.AfDB.org/en) on Wednesday approved a $121.7 million loan (ZAR 1.893 billion) and Euro 3 million grant from the Rural Water Supply Sanitation Initiative Trust Fund to support Namibia’s “Water Sector Support Program”.The program will facilitate sustainable production and transfer of water resources to improve access to potable water and for agricultural and industrial use. It will also enhance sanitation in rural areas and enrich institutional capacity, sustainable management and utilization.In particular, it seeks to increase access to sustainable water services from the current level of 85% and sanitation services from 54% to the universal 100% target by 2030.Namibia is ...

Feb262020 by ShafiqNo Comments

BUSINESS: African Union Executive Council endorses African Development Bank President Adesina for second term

AFRICA, Business

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 2020ABIDJAN, Ivory Coast, February 25, 2020/ -- 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 his first term as President by the Bank’s Board of Governors at its Annual Meetings in Abidjan on 28 May 2015. He is the eighth President of the African Development Bank Group and the first Nigerian in the post.During hi...

Feb122020 by ShafiqNo Comments

UGANDA: African Development Bank approves $1 million grant for Uganda to stem Ebola transmission.

AFRICA, HEALTH, UGANDA

Funds have been disbursed through the World Health Organization (WHO), which is the implementing agencyKAMPALA, Uganda, February 12, 2020/ -- The African Development Bank (AfDB.org) has released a $1 million grant to Uganda to help the East African country tackle an outbreak of the Ebola virus.The grant to support Uganda’s National Ebola Viral Disease (EVD) Preparedness and Response Plan, was approved in January. Funds have been disbursed through the World Health Organization (WHO), which is the implementing agency. The grant follows a request by the Government of Uganda to the African Development Bank to support the country’s efforts in containing the Ebola scourge that has so far killed three people in the East African nation. The Bank is working with Uganda’s Ministry of H...