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. “Africa is facing enormous fiscal challenges to respond to the coronavirus…
Author: Bi Gohe BOTTY
The President of the African Development Bank Group, Dr. Akinwumi Adesina is pleased to announce the appointment of Ms. Bajabulile “Swazi” Tshabalala as Acting Senior Vice President of the Bank with immediate effect. Ms. Tshabalala, currently the Vice President for Finance and Chief Finance Officer for the African Development Bank Group, joined the Bank on August 1, 2018. Ms. Tshabalala will replace, in this acting capacity, Mr. Charles Boamah, the former Senior Vice President of the Bank, who retired effectively from the Bank after 23 years of meritorious service to the institution. Commenting on the appointment, the President of the African Development…
The African Development Bank and the Botswana Development Corporation (BDC) on Friday signed a Line of Credit (LOC) totaling $80 million to help scale up key investments in the southern African country. BDC will on-lend to specific target groups, focusing on industrialization including manufacturing, transport and service sectors that have significant development impact. Repayment will be over 10 years, including a two-year grace period. Signing on behalf of the Bank, Mohamed Kalif, Manager, Financial Intermediation and Inclusion Division, said: “The African Development Bank is excited to collaborate with BDC to promote private sector development, as well as support broad-based economic growth in Botswana.” Kalif noted…
Ireland moved a step closer to becoming a member of the African Development Bank Group after a government delegation on Monday deposited ratification instruments during an official visit to the Bank’s Abidjan headquarters. “For us, it marks the final moments of our decision to become a member of the African Development Bank Group. It’s been a long road, but a very successful one. We are excited that we are at the end,” said Ryan after submitting the documents. “Africa has been one of our key targets for development cooperation, so joining the Bank gives us the opportunity to work with…
