African Development Bank and Lake Chad Basin Commission Sign $10 Million Grant Agreement to Revitalize Lake Chad
The African Development Bank Group and the Lake Chad Basin Commission (CBLT) have signed a $10.2 million grant agreement to implement the Technical Support Project for the Restoration of the Ecological and Economic Functions of the Lake Chad Basin (PARFEBALT).
The agreement was signed in N’Djamena on 20 March 2025 by the Bank Group’s interim Country Manager for Chad, Claude N’Kodia, and the Executive Secretary of the CBLT and head of mission of the Multinational Joint Task Force, Mamman Nuhu.
Gabon: African Development Bank-Funded Study Underscores Importance of Economic Diversification
The African Development Bank (AfDB), through its Transition States Coordination Office and its Gabon Country Office, held a workshop in close collaboration with the Government of Gabon to present the findings of a political economy study titled “Towards a Successful Transition and Lasting Stability in Gabon: Challenges and Opportunities.”
African Development Bank and Bank of Africa Tanzania sign $7.5 million facility to boost trade finance
The African Development Bank and the Bank of Africa Tanzania (BOAT) have signed a $7.5 million trade finance transaction guarantee facility to boost trade finance activities of the Bank of Africa in Tanzania.
Under this facility, the African Development Bank will provide a guarantee of up to 100% to confirming banks against non-payment risks arising from letters of credit and similar trade finance instruments issued by the Bank of Africa Tanzania.
AU Commission Chairperson and President Kagame Discuss Africa’s Digital Future, Regional Security, and AU Reforms
The Chairperson of the African Union Commission H.E. Mahmoud Ali Youssouf concluded a productive meeting with H.E. President Paul Kagame in Kigali today, expressing gratitude for Rwanda’s leadership in Africa’s digital transformation. The Chairperson commended Rwanda for hosting the Global AI Summit on Africa and its pioneering efforts in innovation and technology.
African Forum on Mining Calls for Bold Action to Transform the Continent’s Mineral Sector
The 3rd African Forum on Mining (AFM), held from March 19 to 21, 2025, at the African Union Commission’s Headquarters, concluded with a strong call to action for African nations to harness their vast mineral wealth for sustainable development, industrialization, and economic transformation.
Nigeria’s Agro-Revolution: Construction of Special Agro-Industrial Processing Zones (SAPZ) begins
Nigeria’s food and agriculture sector is set to enter a new era of industrialization, as the Nigerian government, the African Development Bank, and the State government of Kaduna kickstart the construction of Phase 1 of the Special Agro-industrial Processing Zones (SAPZ) program.
Africa Fertilizer Financing Mechanism lauded for projects worth $10.3 million in Kenya, Uganda, Mozambique, and Zimbabwe
The Africa Fertilizer Financing Mechanism (The Mechanism) is making significant strides toward closing Africa’s agricultural productivity gap. At its 14th Governing Council meeting, held on 20 March 2025 in Nairobi, Kenya, the Mechanism reported that its initiatives had facilitated access to 18,448 tons of fertilizer for 115,535 smallholder farmers across Kenya, Uganda, Mozambique, and Zimbabwe during 2024.
IFAD and the Development Bank of Southern Africa partner for rural development across Africa
Rome/Cape Town, 26 February 2025. The International Fund for Agricultural Development (IFAD) and the Development Bank of Southern Africa (DBSA) have signed a Memorandum of Understanding (MoU) to join forces in rural development projects across the African continent.
African Development Bank and ECOWAS Commission sign $11.78 million agreement to strengthen rice value chains in West Africa
The African Development Bank and the Economic Community of West African States (ECOWAS) Commission have signed a Protocol of Agreement for a grant of $11.78 million to strengthen regional rice production, to help ensure food security, and reduce West Africa’s dependence on costly rice imports.
Deepening Cooperation: President Touray receives Envoys of Cuba, Angola and Ethiopia in Abuja
The President of the ECOWAS Commission, H.E. Dr. Omar Alieu Touray received Ambassadors of Cuba, Angola and Ethiopia at the Commission Headquarters in Abuja, Nigeria, today, March 4, 2025.
H.E. Miriam Morales Palmero, Ambassador of the Republic of Cuba to the Federal Republic of Nigeria and ECOWAS discussed cooperation in the health sector and partnership with the West African Health Organisation (WAHO).