The African Development Bank (AfDB) and the Coalition for Dialogue in Africa announced yesterday that almost 6 million dollars have been made available for a project to combat the outflow of illicit financial flows from the continent. "The project will help African actors actively involved in combating these flows to improve their capacity...
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ADB mobilizes $10 billion for food production in Africa
The president of the African Development Bank (AfDB) announced today that it will allocate 10 billion dollars over the next five years to boost food production, through specific programs designed for each country. "The AfDB Group is committing 10 billion dollars over the next five years to boost efforts to...
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ADB approves EUR 125 million for HCB's modernization program
The African Development Bank (AfDB) has approved a loan of 125 million euros to Hidroeléctrica de Cahora Bassa (HCB) in Mozambique to support a program to modernize the electricity production system, it announced in a statement. "The package comprises up to 100 million euros from the African Development Bank and up to 25 million euros...
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ADB announces 126 million for installation of new weather radar at Beira Airport
A new weather radar could begin operating in December at Beira International Airport. The new infrastructure will replace the weather reporting device destroyed when Tropical Cyclone Idai struck in March 2019 and destroyed several public and private infrastructures. The fact was given to...
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ADB provides 6ME for rehabilitation of power line in central Mozambique
The African Development Bank (AfDB) announced this Saturday a financing of 397 million meticais (six million euros) for the rehabilitation of a power line damaged by Cyclone Idai, which struck the center of the country in 2019. "What will be done is the replacement of the wooden poles that...
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AfDB approves $175 million facility for financing in Africa
The African Development Bank (ADB) has approved a regional trade finance facility of US$175 million for the Eastern and Southern Africa Trade and Development Bank, the bank said in a statement on Thursday. In a statement quoted by Lusa, the institution said that together, "the two institutions will provide an amount of 350...
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African Development Bank president rejects criticism of bad governance
The president of the African Development Bank (AfDB) tried at the bank's annual meetings last week in Accra to dispel suspicions of bad governance that have appeared in the press, calling on participants and journalists to "tell the stories of the bank." "Go home and tell our real stories, the stories of your bank, the Bank....
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"Africa has potential to be solution to global food crisis," reveals ADB
The president of the African Development Bank has argued that Africa has the potential to become the solution to the global food crisis, because 65% of all uncultivated arable land is on the continent. "What Africa does with agriculture will determine the future of food in the world, because 65% of all the land...
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"Africa's economic growth could slow to 4.1% this year," ADB warns
Africa's real GDP growth is expected to slow to 4.1% in 2022, after rebounding to 6.9% in 2021, predicts the African Development Bank, which attributes the slowdown to the persistence of the pandemic and the war in Ukraine. In its African Economic Outlook, released this Wednesday during the African Development Bank's annual meetings...
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"Poverty and inequality are Mozambique's main challenges", says ADB
The African Development Bank (ADB) argued on Tuesday that "widespread poverty and inequality" are Mozambique's main challenge, stressing the need for structural transformation for development. "Widespread poverty and inequality, especially in rural areas, where the majority of the population lives, are Mozambique's main development challenge," said...