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Tag Archives: African Development Bank (AfDB)

AfDB to spend $1m on modernising Africa’s aging hydropower stations

Akinwunmi Adesina

The Sustainable Energy Fund for Africa (SEFA) of the African Development Bank (AfDB) has approved $1 million grant for the modernisation of Africa’s aging hydropower fleet. AfDB president, Akinwunmi Adesina According to a statement from the AfDB, the modernisation of hydropower stations is an opportunity to increase generation capacity at low-cost, and with relatively short lead-times and minimal environmental impact. ...

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AfDB fund provides $7.3m for youth empowerment

Akinwunmi Adesina

The African Development Bank (AfDB), through its Youth Entrepreneurship and Innovation Multi-Donor Trust Fund, has provided more than $7.3 million for youth empowerment. AfDB president, Akinwunmi Adesina According to a statement from the bank on Tuesday, August 24, 2021, the fund provides project preparation and co-financing for bank projects and places emphasis on employability, entrepreneurship and job creation. “In June ...

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AfDB receives $170.9m climate fund boost for energy access framework

Kevin Kariuki

The Board of Green Climate Fund (GCF) has approved $170.9 million in financing for the African Development Bank’s (AfDB) Leveraging Energy Access Finance Framework (LEAF) programme, a statement from the AfDB said on Wednesday, July 7, 2021. Kevin Kariuki, Vice President for Power, Energy, Climate and Green Growth, AfDB LEAF aims to unlock commercial and local-currency financing for decentralised renewable ...

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Climate change: AfDB supports African countries

Akinwunmi Adesina

The African Development Bank (AfDB) says it is supporting African countries to implement their Nationally Determined Contributions (NDCs) to promote green growth and energy transitions. AfDB president, Akinwunmi Adesina Dr Akinwumi Adesina, the President, AfDB, said this at the opening of the 2021 Annual Meetings of the AfDB, held virtually on Wednesday. According to Wikipedia, Nationally Determined Contributions (NDC) or ...

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Clean energy projects: Fund achieves first close at €130m

Kevin Kariuki

The Africa Renewable Energy Fund II (AREF II) has achieved its first close at €130 million, according to a statement from the African Development Bank (AfDB) on Friday, June 18, 2021. Kevin Kariuki, Vice President for Power, Energy, Climate and Green Growth, AfDB This followed a joint investment of €17.5 million from the Sustainable Energy Fund for Africa (SEFA) and ...

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COVID-19: G7 institutions, partners to recover, grow Africa with $80bn

James Duddridge

The G7 Development Finance Institutions (DFIs), the International Finance Corporation (IFC), the private sector arm of the African Development Bank (AfDB), European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) on Monday, June 14, 2021 announced that they were committed to investing $80 billion in the private sector over the next five years to support sustainable ...

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AfDB’s fund ranks second for devt assistance quality – Report

Akinwunmi Adesina

The African Development Fund (AfDF) has been ranked second among 49 international agencies for the quality of its development assistance, according to the Quality of Official Development Assistance (QuODA) report. AfDB president, Akinwunmi Adesina The AfDF is the concessional arm of the African Development Bank (AfDB) Group. The QuODA is a tool developed by the Centre for Global Development (CGD) ...

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Africa to double agricultural productivity as $17bn is pledged to increase food security

Akinwumi Adesina

A coalition of multilateral development banks and development partners has pledged over $17 billion in financing on Friday, April 30, 2021 during a high-level forum, in an apparent bid to address rising hunger on the African continent and to improve food security. AfDB President, Dr. Akinwumi A. Adesina, speaking during the high-level dialogue on Feeding Africa These funds were pledged ...

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Leaders’ Summit on Climate: Adesina says Africa is ‘ground zero’ of crisis

Akinwunmi Adesina

African Development Bank (AfDB) President, Dr. Akinwumi A. Adesina, on Thursday, April 22, 2021 joined 40 heads of state and government at the Leaders’ Summit on Climate, where the United States, Japan and Canada announced ambitious climate targets to address the escalating emergency. AfDB president, Akinwunmi Adesina United States President Joe Biden said the US would aim to cut carbon ...

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African presidents, global leaders support climate change adaptation action for continent

President Tshisekedi

In what looks like a historic and united show of solidarity for a continent that contributes only 5% to global emissions, more than 30 heads of state and global leaders committed to prioritise actions that help African countries adapt to the impacts of climate change and “build forward better.” President Félix Antoine Tshisekedi Tshilombo of DRC and African Union Chairperson ...

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