African Development Bank and Chad sign grant agreement of nearly $11 million to stabilise Lake Chad Basin
The African Development Bank Group and the government of Chad have signed a $10.8 million grant agreement to promote stability and economic development in the Lake Chad Basin.
The implementation agreement for the “Risk Prevention through Lake Chad Stabilisation” (PROSTABLT) project, was signed on 28 February 2025 by Tahir Hamid Nguilin, Chad's Minister of Finance, Budget, Economy, Planning and International Cooperation, who is also Governor of the African Development Bank for Chad, and Claude N'Kodia, the Bank's Acting Country Manager in Chad.
Congo: the African Development Bank and the government sign deals to improve people’s access to electricity
The African Development Bank and the Republic of the Congo have signed two grant agreements totalling $1.5 million to strengthen the country’s energy sector and improve people’s access to electricity and reduce the country’s energy deficit.
First High-Level Learning Event on Food Systems Resilience Program for Eastern and Southern Africa
March 4, 2025 (Addis Ababa, Ethiopia) – The Intergovernmental Authority on Development (IGAD), in partnership with the African Union Commission (AUC) and the Centre for Coordination of Agricultural Research and Development for Southern Africa (CCARDESA), with support from the World Bank, has launched a three-day High-Level Learning Event for the Food Systems Resilience Programme (FSRP) for Eastern and Southern Africa. Themed “Empowering African Food Systems with Digital Technologies: Challenges and Opportunities” and “Strengthening Trade Integration: Leveraging Trade Scorecards and Addressing SPS Implications in Agriculture”, the event provides a key platform for regional collaboration and knowledge-sharing.
Developing a thriving e-vehicles value chain in Africa
African countries should join hands to make the most of their own resources and build a formidable electric vehicle ecosystem that could help fast-track realisation of SDGs.
Africa has both the opportunity and the imperative to harness its vast resources for sustainable development.
With the support from the United Nations Economic Commission for Africa (ECA) and other African institutions, the region can leverage electric vehicles (EVs) to fast-track the achievement of the Sustainable Development Goals (SDGs) and pre-empt the risk of yet another resource curse.
African Union Adopts the Statute for the Establishment of a Continental Food Safety Agency to Address Critical Health and Trade Challenges
The African Union has taken a historic step towards enhancing food safety across the continent with the adoption of the statute for the establishment of the Africa Food Safety Agency during the 38th Ordinary Session of the Assembly of Heads of State and Government in Addis Ababa, Ethiopia on 16 February 2025. This landmark decision marks a significant advancement in the continent's commitment to protecting consumer health, strengthening Africa’s food safety governance and facilitating trade in safe food products under the African Continental Free Trade Area (AfCFTA).
Finance in Common Summit urges global development finance institutions to harness collective power to address global poverty
The fifth edition of the Finance in Common Summit (FiCS) concluded on Friday in Cape Town, South Africa, with strong calls for global development finance institutions to work together to address poverty and development challenges. South African Finance Minister Enoch Godongwana led the call.
The summit, which was co-sponsored by the African Development Bank and took place alongside the G20 Finance Ministers' Meeting, was themed "Fostering Infrastructure and Finance for Fair and Sustainable Growth."
The creation of the single currency “Eco” at the heart of discussions at the 11th Session of the Convergence Council of ECOWAS Ministers
On March 03, 2025, the ECOWAS Commission organized the 11th meeting of the ECOWAS Convergence Council, made up of the Ministers of Finance and Central Bank Governors of ECOWAS member states. The meeting examined the Report of the ECOWAS Macroeconomic Policy Technical Committee meeting, held from February 27 to March 1, 2025 in Abuja, as well as important issues such as the status of implementation of the ECO Roadmap.
Nigeria becomes an EBRD shareholder
- Nigeria has become the EBRD’s 77th shareholder
- Nigeria has also expressed interest in becoming an EBRD recipient country
- In 2023, the EBRD’s Board of Governors approved a limited and incremental expansion to sub-Saharan Africa and Iraq
Nigeria has joined the European Bank for Reconstruction and Development (EBRD), becoming its 77th shareholder.
Nigeria submitted a request to join the Bank in April 2024 and the Board of Governors approved its membership in May of the same year.
African Union Summit: African Development Bank President Highlights a Decade of Economic Transformational Impact
African Development Bank Group President Dr. Akinwumi A. Adesina, delivered a compelling farewell address to Heads of State and Government at the 38th African Union Summit, highlighting a decade of remarkable achievements by the Bank in driving Africa’s economic transformation.
H.E. Mahmoud Ali Youssouf, H.E. Ambassador Selma Malika Haddadi, and 4 Commissioners elected to leadership positions in the African Union Commission elections
H.E. Mahmoud Ali Youssouf, (Djibouti, Eastern Region) has been elected as the Chairperson of the African Union Commission. He will be to be deputised by H.E. Selma Malika Haddadi (Algeria, Northern Region). Both mandates are for four years, renewable once.
The two leaders were elected and sworn in at the 38th Ordinary Session of the Assembly of Heads of State and Government that took place from 15 to 16 February 2025. Both elected officials garnered the required two thirds majority votes of the 49 member states eligible to vote. 6 AU member states are under sanctions and therefore ineligible to vote.