Italy, AfDB Launch $300m Funds to Support Africa’s Economic Growth Italy and African Development Bank Group (AfDB) have formed a strategic alliance to launch a $300 million funding support for Africa’s economic growth. Prime Minister of Italy, Ms. Giorgia Meloni, and the President of the African...

AfDB Allocates $700 Million to STEM Education, Training African Youths The President of the African Development Bank Group (AfDB), Akinwumi Adesina, has stated that the bank has allocated $700 million towards education and skills development. He said that the bank was also supporting 4,000 tertiary education...

Africa Needs $402.2bn Annually for Structural Development – AfDB The President of the African Development Bank (AfDB), Akinwumi Adesina, says Africa needs to close a financing gap of about $402.2 billion annually to fast-track its structural transformation by 2030. Adesina spoke during the presentation of the...

AfDB Projects Nigeria’s Growth Rate to Increase 4.4% In 2025 The growth rate of Nigeria and other West African countries is projected to rise from an estimated 3.6 per cent in 2023 to 4.2 and 4.4 per cent in 2024/2025. The African Development Bank (AfDB) Vice-President...

AfDB Advocates End to $824bn Resource-backed Loans in Africa The President of the African Development Bank, Akinwumi Adesina, has said that non-transparent resource-backed loans that complicate debt resolution and compromise countries’ future growth are undermining African economic potential. According to a statement from the bank on...

Nigeria to Receive $2.2bn Loan from World Bank The Federal Government is looking forward to receiving around $2.2 billion single-digit interest loan from the World bank and another budget support facility from the African Development Bank (AfDB). Minister of Finance, Wale Edun disclosed this during the...