Tag: African Development Bank
Debt Burden and Opaque Resource-Backed Loans Hinder Africa’s Potential
By Abdi Ali Published April 24, 2024 Africa’s immense economic potential is being undermined by non-transparent resource-backed loans that complicate debt resolution and compromise countries’ future growth. “I think it’s time for us to have debt transparency accountability and make sure that this whole thing of these opaque natural resource-backed…
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Employ Welfarist Policies and People-Centred Development in Tackling Poverty
By Abdi Ali Published March 11, 2024 Given the high levels of poverty in Africa, what is needed are welfarist policies that exponentially expand opportunities for all, reduce inequalities and improve the quality of life of people. Akinwumi Adesina, President of the African Development Bank, has said this while receiving…
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Africa Dominates List of World’s 20 Fastest-Growing Economies
By African Development Bank Published February 20, 2024 Africa will account for 11 of the world’s 20 fastest-growing economies in 2024. Overall, real gross domestic product (GDP) growth for the continent is expected to average 3.8% and 4.2% in 2024 and 2025, respectively. This is higher than projected global averages…
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African Development Bank to Assist Kenya in Development of Infrastructure and Human Resources
By Abdi Ali Published February 9, 2024 African Development Bank has approved a new five-year Country Strategy Paper (CSP) for Kenya that focuses on boosting private sector-driven growth through infrastructure development, strategic reforms and human capital development. “Our support, within the context of the new CSP 2024-2028, will be selectively…
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Burundi to improve water supply and boost climate change resilience with African Development Bank Grant
By African Development Bank Published January 3, 2023 Burundi and African Development Bank have signed two grant agreements totalling US$13.15 million to implement Phase 1 of the Water Sector and Climate Resilience Building Support Programme (PASEREC-Phase1). The programme will strengthen Burundi’s resilience to the effects of climate change and improve…
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East Africa Enhances Trade with African Development Bank’s Support
By African Development Bank Published October 27, 2023 East African Community (EAC) Secretariat, United Nations Conference on Trade and Development (UNCTAD) and African Development Bank (AfDB) have launched a capacity development project to enhance trade in East Africa. The US$1.56M EAC Trade Portal Enhancement Project will support digitized trade solutions…
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