Tag Archives: AFDB

The African Development Bank Group (AfDB) has announced the ban of ALG Global Concept Nigeria Limited from participating in Bank-financed projects for 36 months. The construction company registered in Nigeria, as well as its Managing Director, Mr. Abuharaira Labaran Gero, were slammed with the ban by the Office of Integrity and Anti-Corruption of the Bank. An investigation conducted by the …

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—Says World Not Winning War Against Hunger Tayo Olanipekun The African Development Bank (AfDB) has called on global partners for efforts to lift one billion people worldwide out of hunger. The Bank also announced that it was leading the way by investing $24bn in African agriculture over the next 10 years,according to a statement in Lagos on Wednesday. “We are …

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The African Development Bank and Food and Agricultural Organisation are set to raise $100m for agriculture in a bid to end hunger and malnutrition and create wealth in Nigeria and other African countries. In a statement issued on Tuesday, the AfDB said both organisations would work together in strategic alliance to raise funds to promote food security, sustainable agriculture and …

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The Federal Government says it has entered into partnership with the African Development Bank (AfDB) to engage more stakeholders in a round-table discussion on youth employment and skill developments. Prof. Stephen Ocheni, the Minister of State for Labour and Employment, said this on Tuesday in Abuja at the inauguration of the task team on Public-Private Round-Table on youth employment and skill …

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The African Development Bank on Tuesday unveiled a plan to close the $130 billion gap in infrastructure financing in Nigeria and other African countries. The plan, which was unveiled at the Africa Infrastructure Forum Roadshow held in Abuja on Tuesday, will take full shape at the African Investment Forum scheduled to hold in Johannesburg, South Africa in November. According to …

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The African Development Bank (AfDB) has issued one million dollar grant to the Bank of Agriculture (BOA) to restructure and strengthen its capacity in responding to emerging challenges. Kabiru Adamu, CEO, Bank of Agriculture, who disclosed this in an interview with News Agency of Nigeria (NAN) on Thursday in Abuja, said the bank is working to recover the N60 billion …

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Nigeria and other African countries are losing more than $50 billion per annum to illicit financial flows, the African Development Bank has said. The Senior Director, Nigeria, AfDB, Ebrima Faal, said this at the opening of a workshop on the role of the parliament in combating illicit financial flows from the continent. Faal noted that the parliament had a primary …

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The Board of Directors of the African Development Bank Group (AfDB) on Tuesday approved $10 million equity investment in Phatisa Food Fund2 (PFF2) to boost agriculture and nutrition across Africa. The PFF2 is a second generation Fund which builds on the success of its predecessor African Agriculture Fund (AAF), sponsored by AfDB along with other DFIs including the French Development …

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President, African Development Bank, Dr Akinwumi Adesina says the bank would invest $12bn in the power sector in Africa in four years with the goal of leveraging on the aviation sector. Adesina said the aviation sector was very important to the continent but that it could not operate in the dark. He said the sector was very important to Africa …

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The African Development Bank (AfDB) has commended the Federal Government’s Economic and Growth Recovery Plan (EGRP), while denying a report that the bank has called off loans to Nigeria. A statement on the bank’s website on Tuesday, denied the loan cut off credited to AfDB’s Vice-President for Power, Energy, Climate and Green Growth, Mr Amadou. The bank also commended the …

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