African Development Bank


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African Development Bank

A bank in Africa that was established in order to reduce poverty and promote sustainable growth. Among other things, it makes loans and provides other forms of financial assistance for projects thought to contribute to African development. It also managed the African Development Fund and the Nigerian Trust Fund. It was established in 1963 and maintains its headquarters in Cote d'Ivoire.
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"Today marks another day to celebrate the strong and impactful partnership between Japan and the African Development Bank. The African Development Bank and the Japan International Cooperation Agency (JICA) are long-term partners for promoting the development of Africa.
In May, the African Development Bank, in partnership with the ministry of finance of the Kingdom of Eswatini and Business Eswatini, hosted a business seminar to raise awareness about the Bank's products and financing windows.
EbrimaFaal, African Development Bank Nigeria country director, extolled China's commitment to the development of the African Continent since joining the Bank Group in 1985.
At the last donors consultative meeting held in Antananarivo in Madagascar from 3-4 July, African Development Bank President Akinwumi Adesina recalled ADFs critical impact on the continent.
According to the bank, the Coding for Employment programme is at the centre of the African Development Bank's Jobs for Youth in Africa Initiative, which aims to put Africa's youth on a path to prosperity.
The Memorandum was signed by Adesina and Scholtes in Busan, Republic of Korea, on the sidelines of the Annual Meetings of the Boards of Governors of the African Development Bank Group, held under the theme of 'Accelerating Africa's industrialisation.' The signing ceremony was attended by African Industry Ministers, representatives of regional Member States, development partners and private-sector executives.
When productive, they significantly contribute to propel and sustain a country's economic growth." Based on preliminary results, the African Development Bank estimates that investment needs for infrastructure will be in the range of US $130-170 billion a year, much higher than the commonly cited US $93 billion.
African Development Bank (AfDB) Director General Gabriel Negatu also attended the meeting.
This initiative between African Development Bank and Equity Group Holding is to act as a catalyst for the transformation of the enterprises by increasing long term financing that they require, Mr Mwangi said Friday.
Uganda is among 17 African countries that will introduce a results-based management system to implement its national development plan, according to the African Development Bank. With $1 million grant (about Shs3 billion) from AfriK4R initiative, a multi-donor programme at the African Development Bank, Uganda is expected to design policies and implement programmes that lead to economic development.
The official also stated that the African Development Bank would finance the study at a value of e1/41.9m.
Summary: The African Development Bank has loaned $250 million (193 million euros) to help development in Morocco's phosphate industry, which accounts for nearly a third of exports, MAP news agency said Friday.The African Development Bank has loaned $250 million (193 million euros) to help development in Morocco's phosphate industry, which accounts for nearly a third of exports, MAP news agency said Friday.

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