A new wave of billions of locusts is set to devour crops across the East and Horn of Africa region, setting off concerns about regional food security and livelihoods of millions of farmers. We asked African Development Bank Chief Financial Economist Edson Mpyisi about the locust crisis and the Bank’s work to help affected African nations to cope.
Question: Locust swarms come around every 10 to 15 years, they're nothing new. What makes this season's swarms in East Africa and the Horn different?
The African Development Bank joins the global community in celebrating 50 years of Earth Day on the theme “Climate Action”, notwithstanding the disruptions by the current COVID-19 pandemic. The combination of COVID-19 pandemic and enhanced climatic threats exacerbates Africa’s vulnerabilities and developmental challenges.
As the COVID-19 pandemic continues to have a devastating impact globally, the African continent, while less affected, is preparing to undergo its own severe social and economic crisis. As of April 7, over 10,000 cases have been reported across 52 countries in Africa (less than 1% of cases globally).
The Board of Directors of the African Development Bank has approved a $10-million equity investment in Razorite Healthcare Africa Fund 1 (RHAF1) to help improve healthcare infrastructure delivery across the continent.
The African Development Bank Group on Wednesday announced the creation of the COVID-19 Response Facility to assist regional member countries in fighting the pandemic.
The Facility is the latest measure taken by the Bank to respond to the pandemic and will be the institution's primary channel for its efforts to address the crisis. It provides up to $10 billion to governments and the private sector.
Akinwumi Adesina, President of the African Development Bank Group, said the package took into account the fiscal challenges that many African countries are facing.
During World Health Worker Week 2020 (5-11 April), the African Development Bank joins the global community to celebrate and recognise the contributions of health workers, including nurses and midwives, on the frontlines of the ongoing international response to the COVID-19 pandemic.
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Editor's Note: Akinwumi Adesina is the President of the African Development Bank. He was formerly Nigeria's Minister of Agriculture and Rural Development and and is the 2017 World Food Prize laureate. The views expressed are solely those of the author.
The African Development Bank’s “Fight Covid-19” social bond, the largest social bond to date to be issued in the capital markets, listed on London Stock Exchange on Friday 3 April 2020, and is now available through its Sustainable Bond Market.
The listing marks an important milestone as the Bank launches its first bond on London Stock Exchange.
The over-subscribed transaction, which attracted $4.6 billion of interest in the book and raised an exceptional $3 billion, was launched to alleviate the impact of Covid-19 on Africa’s economies and livelihoods.
The Board of Directors of the African Development Bank on Tuesday approved $2 million in emergency assistance for the World Health Organization (WHO) to reinforce its capacity to help African countries contain the COVID-19 pandemic and mitigate its impacts.
The grant, which is in response to an international appeal by the WHO, will be used by the world body to equip Regional Member Countries to prevent, rapidly detect, investigate, contain and manage detected cases of COVID-19.
The African Development Bank (AAA) has raised an exceptional $3 billion in a three-year bond to help alleviate the economic and social impact the Covid-19 pandemic will have on livelihoods and Africa’s economies.