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Tag Archives: AfDB

Nigeria Doubles AfDB Rights Before Key Vote

Nigeria has almost doubled its voting rights in the African Development Bank to 16.8% before the lender’s annual meetings next week, as one of its own seeks re-election at the helm of the lender after being cleared of allegations of wrongdoing. Africa’s most populous nation became the biggest rights holder …

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AfDB, IsDB, 5 Others Spend US$61.6bn on Climate in 2019

Climate financing by seven of the world’s largest multilateral development banks (MDBs) totalled $61.6 billion in 2019, of which $41.5 billion (67%) was in low- and middle-income economies, according to the 2019 Joint Report on Multilateral Development Banks’ Climate Finance. The study expands the scope of reporting for the first time to all …

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AfDB Votes $288mn to Help S/Africa Fight COVID-19

The Board of Directors of the African Development Bank has approved a loan of approximately R5 billion ($288 million) to the government of South Africa, as the country battles one of the largest COVID-19 caseloads in the world. South Africa confirmed its first case of COVID-19 on 5 March 2020 …

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AfDB Supports Ghanaian Vocational Training with $95.2mn

A six-year project to develop industrial skills among Ghana’s workforce has improved the engineering and manufacturing skills of young people, promoted economic competitiveness and contributed to an improvement in the quality of life of beneficiaries and a reduction in poverty, according to an African Development Bank report issued on 15 …

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Again, AfDB Under Akinwumi Adesina Gets ‘AAA’ Rating

Fitch Ratings, the global credit rating agency, has affirmed the African Development Bank’s (AfDB) Long-Term Issuer Default Rating (IDR) at ‘AAA’, with stable outlook.  According to the agency, “the ‘AAA’ rating of the AfDB is driven by extraordinary support it receives from its shareholders, which Fitch Ratings assesses at ‘aaa’”. …

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