African Development Bank Group

The African Development Bank is turning 60! Visit https://bit.ly/AfDBat60 to follow a journey that started in Khartoum, #Sudan, in September 1964, where representatives of 25 African countries agreed on the vision of a Bank that could drive economic development across Africa. Six decades later, we are proud to say that we are still #MakingADifference. Follow #AfDBat60 for updates as we celebrate this milestone.

More than 350,000 #Malawi households will benefit from a $11.2 million payout to the government to support the country’s recovery from a devastating drought arising from a weather condition known as #ElNino.   The funds will support food assistance to an estimated 235,000 households in Malawi’s Lower Shire and Southern regions, and cash transfers to 118,000 households in the country’s Central region.   Receiving the cheque, President Lazarus McCarthy Chakwera said, “The insurance payout we receive today is not just a financial transaction; it is a lifeline for our vulnerable populations. It is a testament to the power of foresight and planning, allowing us to respond swiftly and effectively to the needs of our people. This payout will enable us to provide immediate relief, ensuring that no Malawian suffers the worst forms of hunger due to the recent dry spell conditions.”   The payment, made in response to the government’s drought insurance policy, was financed by the African Development Bank through its #AfricanDevelopmentFund and its Africa Disaster Risk Financing (ADRiFi) Programme Multi-Donor Trust Fund.   The ADRiFi Trust Fund is a collaboration between the Bank Group and the African Risk Capacity (ARC) Group, an Agency of the African Union that supports African governments to improve their capacities to better plan, prepare, and respond to extreme weather events and natural disasters.   Details on the support: https://bit.ly/4fPyvV0

How well do you know the African Development Bank? To mark #AfDBat60, we’re putting your knowledge of the Bank to the test.

Les activités de financement du commerce en Éthiopie et dans la région de l’Afrique de l’Est bénéficieront du soutien du Groupe de la Banque africaine de développement, suite à l'approbation d'un mécanisme de garantie des transactions de 40 millions de dollars pour Dashen Bank. Ce mécanisme permettra aux PME et aux entreprises éthiopiennes d'importer et d'exporter des marchandises dans la région, sur la base de lettres de crédit et d'autres instruments de financement du commerce émis par Dashen Bank. Asfaw Alemu (CM), directeur général de la Dashen Bank, a réagi en ces termes après l'approbation de la facilité : « Après avoir satisfait aux exigences rigoureuses de la Banque africaine de développement en matière de diligence raisonnable, nous sommes ravis que son Conseil d'administration ait approuvé un mécanisme de garantie des transactions de financement du commerce de 40 millions de dollars. Ce mécanisme de garantie, dont nous avions grand besoin, contribuera à l'expansion des services commerciaux de notre banque dans la région et au-delà. » M. Alemu a souligné que ce mécanisme soutiendra les petites et moyennes entreprises éthiopiennes, en particulier dans les secteurs de l'agriculture et de l'industrie manufacturière. Pour en savoir plus sur la facilité de garantie accordée à la Dashen Bank et sur le produit de garantie des transactions de la Banque africaine de développement : https://bit.ly/3AhASzH #IntegrateAfrica #IndustrialiseAfrica

African Water Facility to launch new financing window for urban sanitation in Africa The African Development Bank-managed African Water Facility, together with the African Union’s Continental Africa Water Investment Programme to launch the Africa Urban Sanitation Investment Initiative. Through the new #sanitation financing window, the Facility will mobilise and deploy financing, prepare bankable and investment-ready projects, and implement innovative and inclusive approaches that promote tailor-made sanitation solutions. Details on today’s event held on the sidelines of the Stockholm #WorldWaterWeek : https://bit.ly/3AFeZKS

What is the Africa Urban Sanitation Investment Initiative (AUSII) and why does it matter? On Tuesday, 27 August on the sidelines of the 2024 #WorldWaterWeek, the African Water Facility will formally launch this new financing window that is dedicated solely to improving access to safely managed sanitation in African cities. Register to participate online or in-person: https://bit.ly/AUSIILaunch #africanwaterfacility #sanitationforall

DYK: MSMEs represent 80 percent of Africa's businesses, while the circular economy in Africa has the potential to generate 11 million jobs.   To encourage innovative #CircularEconomy solutions that foster sustainable and inclusive growth, the African Development Bank-supported AfriCircular Innovators Program will provide finance and technical assistance to 30 small and medium enterprises from Cote d’Ivoire, #Ghana and #Rwanda.   Ndintambwe Feeds Limited, a Rwandan company that produces affordable animal feeds using insects and maggots as an environmentally-friendly alternative to soybean and fishmeal, is one of the selected businesses. “As an SME, we face numerous challenges. The biggest ones include limited financial capacity to fully implement our project, and the lack of required skills to sustain a profitable recycling business without harming the environment," said founder, Jean Bosco Nshutiyimana, at a virtual onboarding event.   Koumbem Fatou Emilienne, representative of Siboré Luxury Hair, another beneficiary, said, “Joining AfriCircular's Innovators Program offers a valuable opportunity for Siboré Luxury Hair, aligned with our commitment to sustainability. Through this program, we will benefit from the expertise and resources needed to optimise our production processes, and reduce waste and improve energy efficiency. Financial support and access to cutting-edge technologies will strengthen our production capacity and positive environmental impact.”     Details: https://bit.ly/4fTc8xZ

Le Fonds africain de développement a approuvé un prêt de 60 millions de dollars à la République du #Bénin pour financer la deuxième phase du Programme d'appui à la gouvernance économique et au développement du secteur privé.   Ce financement porte à plus de 100 millions de dollars le soutien total au Bénin via un appui budgétaire programmatique couvrant 2023-2024.    Les objectifs clés : ·  Porter les investissements privés à 30,2% du PIB en 2024 ·  Réduire les délais de paiement des créances des MPME par l'État de 200 à 60 jours ·  Soutenir le secteur agroalimentaire et en renforçant l'action climatique.   Ce programme souligne l'engagement du Fonds africain de développement à soutenir les réformes ambitieuses du Bénin, positionnant le pays à l'avant-garde de l'action climatique et de la création d'un environnement favorable au secteur privé.   #DéveloppementDurable #ActionClimatique #FeedAfrica

Powering Burundi's Future The African Development Bank, in partnership with the European Union, is co-financing Burundi's largest electricity substation, in Rubirizi. This 160 megavolts facility will increase the country's electricity-connected population by 7 per cent, strengthening reliability and stability for the economic capital, Bujumbura.    A delegation from the government of #Burundi and the African Development Bank visited the site on 9 August 2024, as part of a tour of electrification projects funded or co-funded by the Bank Group in Rubirizi and Kabezi, in Bujumbura Rural Province. Learn more about how strategic investments in the country strengthen its electricity network, boost reliability, and support economic transformation: https://bit.ly/3XcCPXi #PowerAfrica

#AfDBJobs: We're hiring! Apply today or share with your network. Visit https://bit.ly/AfDBJobs for the full list of vacancies at the African Development Bank.