Q 1. Switzerland just signed two bilateral agreements for grants with the African Development Bank. Can you tell us about them?
Indeed, we signed a CHF 3,000,000 grant to support the Boost Africa/E-lab initiative. Boost Africa is a joint initiative between the African Development Bank and the European Investment Bank (EIB), and one of the flagship initiatives of the Bank’s Jobs for Youth in Africa strategy. It aims to harness the continent’s potential and create opportunities on the ground.
The African Development Bank and the Fund for African Private Sector Assistance (FAPA), a multi-donor trust fund financed by the Governments of Japan and Austria, today launched the African Agri-Business Engine (AABE) in Malabo. FAPA provides grants for technical assistance activities in Africa, and is one of the components of the Enhanced Private Sector Assistance (EPSA) initiative hosted at the African Development Bank.
African leaders on Wednesday underscored the urgent need to fast-track the continent’s regional integration process in order to accelerate Africa’s economic transformation.
The call was made at the opening ceremony of the Bank’s 2019 Annual Meetings, in Malabo, Equatorial Guinea, with the theme: “Regional Integration for Africa’s Economic Prosperity.”
The African Development Bank and its partners on Wednesday launched the Africa Digital Financial Inclusion Facility (ADFI), designed to aid safety and expansion of digital financial transactions in Africa.
The Fund, launched at the Bank’s Annual Meetings in Malabo, Equatorial Guinea, is supported by the Bill & Melinda Gates Foundation, the Agence Française de Développement (AFD) and the Government of Luxembourg, as initial contributors.
Leaders from four African countries on Wednesday shared their vision for an integrated and borderless Africa that would foster economic growth and development.
The leaders spoke during a high-level presidential dialogue on day two of the African Development Bank’s 2019 Annual Meetings.
A growing commitment to a free trade area deal by the continent’s leaders will spur efforts to create the world’s largest free trade zone.
“There’s light at the end of the tunnel,” Mukhtar Abdu, Director of the Industrial and Trade department said.
The African Continental Free Trade Area (AfCFTA) deal, ratified by 22 countries in April, a year after it was launched in Kigali, Rwanda, is designed to boost intra-African trade as part of efforts to transform regional economies.
The African Development Bank Group on Tuesday urged financial institutions in Africa to use their investments and other business portfolios to deepen regional integration efforts for the economic transformation of the continent.
Your Excellency, President OBIANG NGUEMA MBASAGO of Equatorial Guinea - our host President; Your Excellencies Heads of State and Governments (names), Governors of the African Development Bank, honorable Ministers, Ambassadors and Heads of Diplomatic Missions, members of the Board of Directors, senior management and staff of the African Development Bank, partners, members of the press, distinguished guests, ladies and gentlemen.
The African Development Bank’s Annual Meetings got going on Tuesday with some preliminary high level meetings ahead of the official opening ceremony on Wednesday.
The day started with the annual workshop of the Association of African Development Finance Institutions (AADFI), in the presence of the Bank’s Vice-President in charge of private sector, infrastructure and industrialisation, Pierre Guislain . Also on the agenda was a meeting of the Board of Governors and the Joint Steering Committee of the Boards of Governors, both preparatory meetings held behind closed doors.
This road crosses the towns of Djougou, Péhunco, Kérou and Banikoara. It is used by the high-capacity vehicles that move cotton from the fields to the region's 18 ginning mills. The cotton sector, a major employer, plays a key role in the Beninese economy, accounting for 45% of fiscal revenues exclusive of customs duties, 13% of national GDP and 80% of official export earnings. Some 60% of Benin's industrial fabric owes its existence to cotton. The cotton road, therefore, is significant to the country's economic and social development.