Tag Archives: African Development Bank

AfDB sponsored Off-Grid Energy Access Fund Reaches Final Equity Close With Partner Contributions

afdb

The Facility for Energy Inclusion’s Off-Grid Energy Access Fund (FEI OGEF) has reached a final equity close with $59 million in committed equity capital and $36 million debt facilities, to support innovative, off-grid energy access companies. The final close, reached on 18 November 2019, was made possible through a $15 million equity contribution from the European Union (EU), and a …

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Sahara Reporters’ Report About ADB’s Director, A Journalistic Mischief-AfDB

AFDB-Akinwumi-Adesina

The attention of the African Development Bank has been drawn to a story published by Sahara Reporters on June 16 quoting our  Director of  Industrial and Trade Development, Abdu Mukhtar, who is alleged to have said that the Nigerian government does not understand the African Continental Free Trade Agreement. We want to state in clear terms that this is an …

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ADB approves $14.12m for Nigeria’s Membership in African Trade Insurance Agency

Adesina

Once membership formalities in ATI are finalized, Nigeria could benefit from gross political and commercial risk insurance cover on total investments and trade amounting to over US$ 5 billion by 2020   The African Development Bank Group (www.AfDB.org), through its Trade Finance operations, has approved a US$14.12 million facility to support the Federal Republic of Nigeria’s membership in the African …

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International Youth Day:Nestlé Empowers Central,West African Youths

Dayo Emmanuel The power of youth, their resourcefulness and ingenuity are strong contributing factors to the development of economies around the world. However, the majority of young people lack economic opportunities, which unfortunately leads to high levels of youth unemployment, underutilized talents and skills. A publication by the African Development Bank on Jobs for Youth in Africa (http://bit.ly/2KON1g3) indicates that “of Africa’s …

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EIB, African Development Bank To Support Private Sector Investment In Nigeria

The European Investment Bank and the African Development Bank have agreed to support the creation of the new Development Bank of Nigeria to strengthen lending for business and agriculture investment in the country. The European Investment Bank has finalized a US $20-million equity stake in the new financing institution, alongside US $50-million equity participation from the African Development Bank.  The …

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Nigerian governors endorse peer advisory mechanism to end hunger by 2025

Five state governors in Nigeria have endorsed a peer advisory mechanism to enable them to monitor the implementation of their state-grown agricultural plans with a view to ending hunger by 2030. The peer advisory mechanism is a brainchild of the Nigeria Zero Hunger Forum (NZHF) that is aimed at reviewing, monitoring, and advising states in Nigeria on the ways and …

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