Tag: African Development Bank

20 Million Farmers In Africa To Benefit From $1.5 billion Emergency Food Facility

21May

By Chukwuebuka FestusNo Comments

Africa, African Development, Agriculture, News

20 Million Farmers In Africa To Benefit From $1.5 billion Emergency Food Facility

The African Development Bank has approved a $1.5 billion emergency food production facility for 20 million farmers on the continent. This is aimed at reducing the looming food crisis driven by Russia's invasion of Ukraine, the bank announced on Friday. Russia’s invasion of Ukraine is further disrupting a global and liberalized food system that was already undermined by COVID and the unfolding climate crisis. Read Also: Kwara State to Partner AfDB on Infrastructure Devt., Women Empowerment The funding is meant to assist Africa overcome a shortage of at least 30 million metric tonnes of food due to the disruption of global food supplies caused by the conflict in Europe, especially for wheat, maize and soybeans imported from Russia and the Ukraine. The facility was designe...

Inauguration Speech by Dr Akinwumi Adesina on His Election for a Second 5-Year Tenure

1Sep

By adminNo Comments

Africa, African Development, Agriculture, Finance, News, Nigeria, Press Statement

Inauguration Speech by Dr Akinwumi Adesina on His Election for a Second 5-Year Tenure

PROTOCOLS Your Excellency, President Alassane Ouattara, President of the Republic of Côte d’Ivoire Your Excellency, President Muhammadu Buhari, President of the Federal Republic of Nigeria Your Excellencies, Heads of State and Governments Excellencies former Heads of State and Governments Chairperson of the African Union Commission The Former Commonwealth Secretary General Honorable Niale Kaba, the outgoing Chairperson of the Bureau of Governors of the African Development Bank Group and Minister of National Planning of Côte d’Ivoire— Madam “Quiet Force” or “Force tranquille” The new Chairperson of the Bureau of the Board of Governors, Honorable Ken Ofori Ata, Minister of Finance of Ghana Governors of the African Development Bank, from 81 capitals around the world ...

AfDB Corruption Probe: Independent Panel Exonerates Adesina

28Jul

By Obiajulu Joel NwoluNo Comments

African Development, Corruption, Economy, Justice, News, Nigeria

AfDB Corruption Probe: Independent Panel Exonerates Adesina

The independent committee inaugurated to examine the report of the Ethics Committee of the Board of Directors on the accusations made by the whistle blowers against the President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has cleared the bank’s president of any wrongdoing. The top-class independent review committee headed by Mrs. Mary Robinson, former President of Ireland, turned in its report on Monday. The panel was inaugurated in July 2 by the Bureau of Governors of the Bank, following a complaint by the United States, to crosscheck the process by which two organs of the Bank – the Ethics Committee of the Board, and the Bureau of the Board of Governors had hitherto cleared Adesina. In the top-class Revie Panel were- Mary Robinson, who is a former President of...

Nigeria Secures $288.5m African Development Bank Loan

8Jun

By Obiajulu Joel NwoluNo Comments

Africa, Agriculture, Covid-19, Economy, Finance, News, Nigeria

Nigeria Secures $288.5m African Development Bank Loan

Nigerian has gotten approval for $288.5m loan from African Development Bank (AfDB) to cushion the impact of coronavirus and the drop in the price of crude oil. Africa’s largest economy – Nigeria, has been battling with growing cases of COVID-19 with an infection rate of 12,233 cases and 342 deaths. Coupled with the dwindling price of oil, the country has seen her finances stretched. The minister of finance, Zainab Shamsuna Ahmed had warned that Nigeria’s economy could take a hit from the pandemic. The country has been battling with the adverse effect of the pandemic, low oil price and effect of lockdown which held sway till recent relaxation. Read also: FG lost N557bn to MDAs in five years —Report The loan will reinforce government’s capacity to upscale surveillance and react t...