African Development Bank

AfDB supports CIB with $148M to prop up SMEs and trade

Thu, 30 Nov 2023 - 05:40 GMT

The AfDB clarified that the instruments and amounts include $10 million Line of credit with a tenor of 10 years, and $90 million subordinated loan with a tenor of 10 years.

AfDB approves of new $131M loan to boost economic resilience

Wed, 29 Nov 2023 - 01:00 GMT

The $131 million loan, named the Private Sector Development and Economic Diversification Support Program, aims to “promote private sector development and economic diversification”

AfDB highlights Egypt’s easing inflation, lowers avg. inflation rate forecast for next FY

Mon, 29 May 2023 - 12:26 GMT

This is lower than the previously forecasted 20 percent, with AfDB pointing to “high food and nonfood prices and the devaluation of the Egyptian pound"

The UK provides €80M guarantee to the AfDB for a wastewater project in Egypt

Sun, 28 May 2023 - 04:28 GMT

The project provides its services to about 12 million people in the first and second phases, and the third phase provides services to about 5.5 million people

Egypt continues to support Africa’s economic development efforts: El-Sisi

Tue, 23 May 2023 - 02:04 GMT

Under the theme of “Mobilizing Private Sector Financing for Climate and Green Growth in Africa,” the meetings aim to explore practical ways to support and boost Africa’s climate financing

Egypt's central bank, AfDB ink MoU on hosting 2023 annual meetings in Sharm El-Sheikh

Mon, 12 Sep 2022 - 08:57 GMT

The MoU was signed by CBE Governor Hassan Abdallah and Secretary General of the African Development Bank Vincent Nmehielle, CBE said in a statement.

Africa loses up to 15% of GDP per capita due to climate change: AfDB

Sun, 31 Jul 2022 - 06:52 GMT

Urama referred to difficulties which the black continent encounters such as opportunities for innovation.

AfDB projects 5.7% increase for Egypt’s economy in 2022

Wed, 27 Jul 2022 - 05:18 GMT

In its African Economic Outlook Report, AfDB statistics revealed that Egypt was one of the few African countries that showed positive growth in 2020, the year that witnessed the global outbreak of coronavirus pandemic.

AfDB agrees to grant $271M development financing to Egypt

Tue, 19 Jul 2022 - 02:04 GMT

The development financing approved by the AfDB to support the budget comes within the framework of the government's efforts to enhance efforts to combat the challenges facing development in the current period, as a result of global developments and their related impact on food security.

AfDB approves establishment of African Pharmaceutical Technology Foundation to boost sector's industry

Mon, 27 Jun 2022 - 04:13 GMT

The AfDB clarified that the new foundation will significantly enhance Africa’s access to the technologies that underpin the manufacture of medicines, vaccines, and other pharmaceutical products.

AfDB: Egyptian govt works on engaging private sector in climate projects

Mon, 11 Apr 2022 - 02:36 GMT

Ahead of COP27, Egypt is preparing a guidebook to help governments, multilateral development banks and the private sector engage in the mobilization of climate finance, the bank added.

Electricity min., AfDB discuss fostering renewable energy cooperation

Wed, 16 Mar 2022 - 06:05 GMT

Shaker said the Egyptian electricity sector has succeeded in completing many projects and programs in cooperation with the bank.

African Development Bank delegation in Egypt to ensure success of COP27

Mon, 14 Mar 2022 - 06:30 GMT

COP 27 is scheduled for November 2022 in the coastal city of Sharm El Sheikh.

Egypt, AfDB prepare for 2022-2026 country strategy in Presence of 17 national entities

Sun, 10 Oct 2021 - 01:55 GMT

This took place with the participation of the AfDB’s Executive Director for Egypt and Djibouti, Ahmed Zayed; the African Development Bank’s (AfDB) Deputy Regional Director for North Africa and Country Manager for Egypt, Malinne Blomberg; and officials from the Ministry of International Cooperation.

AfDB approves Egypt’s hosting of its annual meetings in 2023

Tue, 21 Sep 2021 - 04:50 GMT

Tarek Amer affirmed in a statement that Egypt's aspiration to host these important meetings, praising the historical relationship between Egypt and the African Development Bank, as Egypt is one of its founding countries in the 1960s.

Egypt signs agreement with AfDB worth €145M to advance railway system

Sun, 23 May 2021 - 03:13 GMT

The agreement comes with the aim of improving efficiency and safety factors in the railway system by extending the authority's main lines (Alexandria / Cairo / Assiut / Naga Hammadi and Benha / Port Said line) with 953 km controlled by the European Train Control System (ETCS-L1) to manage the course of the cars.

Ongoing cooperation portfolio bet. Egypt, AfDB records $640.8M

Thu, 04 Mar 2021 - 10:23 GMT

The portfolio covers various development sectors such as electricity, health, research, entrepreneurship, budget support, and water and sanitation.

Sisi approves increasing Egypt's subscription in AfDB's capital

Thu, 09 Jul 2020 - 10:15 GMT

The decision was regarding the allocation of shares in the capital of the African Development Bank.

Egypt discusses private sector role with int’l financial institutions

Thu, 30 Apr 2020 - 01:52 GMT

The meeting was attended by officials from World Bank (WB), IFC, European Investment Bank (EIB), European Bank for Reconstruction and Development (EBRD) and African Development Bank (AfDB).

AfDB supports its members, including Egypt, by $3M-bond

Tue, 07 Apr 2020 - 12:03 GMT

Bloomberg added that this step will entail enhancing communication between stakeholders at the government, private sector and civil society levels to provide joint ownership.