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...

$30bn Required as Financial Institutes Partner to Provide 300m Africans Electricity The World Bank and African Development Bank (AfDB) have struck a partnership arrangement to boost access to electricity in Africa. The partnership, according to the lenders, would provide at least 300 million people in Africa...

Tinubu Congratulates AfDB Boss, Akinwunmi, Adesina, on Winning Awolowo Prize for Leadership President Bola Tinubu has congratulated Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), on the award of the prestigious Obafemi Awolowo Prize for Leadership. Dr. Adesina joins the pantheon of other previous...