African Leaders Welcome Launch of African Development Bank’s Technical Assistance Facility to Unlock Climate Finance for Vulnerable Regions
In a major step to address Africa's climate finance gap, the African Development Bank Group has launched a new funding call that will transform the development of climate projects across 37 low-income African countries.
With an initial allocation of $56 million, the Climate Action Window (CAW) Technical Assistance Facility, launched at COP29 in Baku, Azerbaijan, will support the preparation, financing, and implementation of adaptation and mitigation projects aligned with the Paris Agreement, Nationally Determined Contributions (NDCs), and National Adaptation Plans (NAPs).
COP29: African Leaders Urge Rapid Increase in Climate Finance for Adaptation and Green Growth
“We hope to move from millions and billions (of dollars) to the thousands of billions of dollars Africa clearly needs for climate action. The success of this COP, described as the “finance COP,” will largely depend on the level of ambition of the climate finance target.”
World Food Day: How the new MADE Alliance will use digital technologies to help farmers in Africa feed the continent
The African Development Bank Group and Mastercard are co-chairing a new initiative called Mobilizing Access to the Digital Economy (MADE) Alliance Africa, which aims to provide digital access to critical services for 100 million people and businesses in Africa over the next 10 years.
Growth in Sub-Saharan Africa is Diverging
Stagnating incomes in sub-Saharan Africa’s resource-intensive economies necessitate more effective fiscal management and broad-based structural reforms
Sub-Saharan Africa is home to nine of the world’s top twenty fastest-growing economies this year. Such startling statistics, however, rarely feature in discussions of the region’s outlook. Instead, headline figures typically emphasize the relatively modest average economic performance. This disconnect reflects a two-track growth pattern, where a significant part of the region underperforms.
IGAD Supports Uganda to Review its National Land Policy 2013 in Buganda Cluster
November 11-12, 2024(Buganda Cluster, Seeta, Mukono – Uganda): As part of the review of Uganda’s National Land Policy (2013), the Intergovernmental Authority on Development (IGAD), through the Land Governance programme of its Agriculture and Environment Division, convened a two-day workshop for the Buganda Cluster in Mukono/Seeta, Uganda.
ECOWAS and the Kingdom of Spain Strengthen their Cooperation Through a Review of Joint Priority Programmes for the Period 2024-2027
Within the framework of strengthening cooperation and monitoring the 2024-2027 joint priority programmes between ECOWAS and the Kingdom of Spain, the ECOWAS External Relations Directorate and the Spanish Cooperation Office held a technical working session on Tuesday 05 November 2024 in Abuja, Nigeria.
Climate Action Essential to Senegal’s Upper-Middle-Income Country Aspiration, says New Report
A new World Bank Group report highlights the significant economic and social benefits of climate action in Senegal as it pursues its Vision 2050 development plan.
African Development Bank Launches Project to Empower Vulnerable Youth and Women in The Gambia
A new landmark initiative focusing on fostering self-reliance through social support services, support to entrepreneurs and building their business skills is set to impact thousands of vulnerable youth and women in The Gambia.
COP29: Lack of Clean Cooking Access Poses Deadly Risks for Millions in Africa, Leaders Urge Action
African policymakers and international partners meeting at this year’s UN Climate Change Conference, COP29 on Tuesday highlighted the urgent crisis posed by lack of access to clean cooking, a challenge impacting 1.2 billion people across Africa and leading to millions of premature deaths annually.
Central African Republic: African Development Bank grants Ecobank €5 million Trade Finance Transaction Guarantee Facility to support local businesses and SMEs
The African Development Bank Group’s Board of Directors has approved a €5 million Trade Finance Transaction Guarantee Facility for Ecobank Centrafrique. This facility, signed off on October 31, allows the Bank to provide up to 100 percent guarantees to confirming banks against non-payment risks on Letters of Credit and similar trade finance instruments issued by Ecobank Centrafrique for local businesses and SMEs.