AfDB, Afreximbank Reports Reveal $5bn Capital Outflow In 2020       The African Trade Finance Survey report has revealed that there were massive capital outflows from Africa, exceeding $5bn in the first quarter of 2020. The report by the African Export-Import Bank, in collaboration with the United Nations...

Africa’s Climate Change Impact Rises To $50bn Annually       The African Development Bank (AfDB) has said the impact of climate change on the continent could rise to $50 billion each year by 2040, with a further three per cent decline each year in gross domestic product...

AfDB Receives $668.1m As Concessional Loans From Japan       The Japan International Cooperation Agency and the African Development Fund, the concessional arm of the African Development Bank Group, have signed a loan agreement of $668.1m to support the 15th replenishment of the ADF (ADF-15). During a virtual...

Africa Needs $108bn For Infrastructure Financing – Adesina         The President of the African Development Bank, Dr Akinwumi Adesina, has urged African leaders to tackle infrastructural challenges as an annual estimate of between $64 and $108bn is required to finance the infrastructural gap. According to a statement...

REA Secures World Bank, AfDB Funds For Power Projects         The Rural Electrification Agency has secured funding from the World Bank and the African Development Bank for the development of power projects in universities and teaching hospitals. The Managing Director of REA, Ahmad Salihijo, disclosed this at...

Africa’s Economy To Decline By 3.4% – AfDB       The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina has said Africa’s economy will decline by 3.4 percent this year. Adesina said this in his remarks after he was conferred with the fellow of the Chartered...