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United Kingdom commits £7.4 million additional funding to African Development Bank’s Africa Disaster Risk Financing Program

The United Kingdom’s Foreign, Commonwealth and Development Office has announced nearly $10 million in additional funding to the African Development Bank’s program assisting African countries to strengthen resilience and enhance their response to climate shocks. The financial commitment of £7.4 million ($9.63 million) for the Multi-Donor Trust Fund of the …

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Conference of the Parties (COP28): African Development Bank President invites business leaders to invest in Africa to accelerate decarbonization

The President of the African Development Bank, Akinwumi Adesina, called on African business leaders to take advantage of investment opportunities in Africa and decarbonize their industries more quicky during the COP28 global climate conference in Dubai. “Africa is a very reliable destination for investment,” since the continent has a “dominant …

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African Development Bank, and the International Organization for Migration (IOM) collaborate on a joint report on diaspora engagement, climate-induced migration, and skills mobility

By Hellen Onweremadu The African Development Bank and the International Organization for Migration (IOM) have produced a joint report examining the nexus between humanitarian, peace, development, and migration. The report, titled Diaspora Engagement, Climate-Induced Migration, and Skills Mobility: A Focus on Africa, was discussed in a special session in Abidjan …

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USDA, Other Agencies Clarify Protections in Title VI of the Civil Rights Act to Better Protect Against Antisemitism, Islamophobia and Related Forms of Discrimination

Recently, the U.S. Department of Agriculture is fulfilling one of its many commitments to counter antisemitism, Islamophobia, and related forms of discrimination and bias and better protect the civil rights of all Americans. As part of the Biden-Harris Administration’s U.S. National Strategy to Counter Antisemitism, eight agencies—the Departments of Agriculture, …

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Biden-Harris Administration Announces Historic Investment in Partnerships for 70 Climate Smart Commodities and Rural Projects

 Agriculture Secretary Tom Vilsack announced today that the Biden-Harris Administration through the U.S. Department of Agriculture is investing up to $2.8 billion in 70 selected projects under the first pool of the Partnerships for Climate-Smart Commodities funding opportunity, with projects from the second funding pool to be announced later this …

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Africa Finance Corporation (AFC) secures US$300 Million Loan from the Export-Import Bank of China to boost trade finance in Africa

Africa Finance Corporation, the leading infrastructure solutions provider on the continent, today announced the successful signing of a US$300 million loan facility agreement with the Export-Import Bank of China (CEXIM). This landmark agreement, signed on the sidelines of the Asian Infrastructure Investment Bank (AIIB) Annual meetings in Egypt, is poised …

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African Development Bank debars Joycot General Contractors Limited for 15 months for fraudulent practices

The African Development Bank Group, on 25 September 2023, announced the 15-month debarment of Joycot General Contractors Ltd. effective 8 September 2023. Joycot General Contractors Ltd. is a construction company registered under the laws of Kenya. An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption found that Joycot …

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Cabo Verde Launches Bank-funded Capital Markets Project

The government of Cabo Verde has launched a project to propel the development of vibrant capital markets in the country. The Bank approved a $350,000 grant from its Capital Markets Development Trust Fund in October 2021 to help develop the country’s first-ever Capital Markets Masterplan. The funds will also facilitate …

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West African Monetary Union: African Development Bank Group extends $400,000 grant for development of regional financial markets infrastructure

The African Development Bank Group has approved $400,000 in grant funding for technical assistance to support automation of securities issuance by the West African Economic and Monetary Union’s Regional Financial Market. The grant will be sourced from the multi-donor Capital Markets Development Trust Fund, which is administered by the African …

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