AfDB Launches $2bn in New Social Bond Issue The African Development Bank (AfDB) has announced the successful launch and pricing of a new $2bn five-year social benchmark bond, which is set to mature on September 18, 2029. A social benchmark bond is a type of bond...

Nigeria Secures $500m Loan To Support Energy Transition Programme The African Development Bank (AfDB) Group has approved a loan of $500 million to Nigeria to finance the first phase of the economic governance and energy transition support programme (EGET-SP). EGET-SP is an initiative aimed at accelerating...

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...