04
SepThe African Export-Import Bank (Afreximbank) and the China Development Bank (CDB) have signed a $400 million term loan facility to enhance access to trade finance for small and medium-sized enterprises (SMEs) on the continent. Afreximbank says it will offer the facility to smaller firms engaged in international and intra-African commerce, as well as those in the productive sectors. Because the facility is provided by the CDB at a comparatively low cost, the organization asserts that it can pass on the financial benefit to end beneficiaries. The facility has a seven-year maturity and will be distributed directly by the multilateral financial […]
04
SepThe African Development Bank (AfDB) and the Global Center on Adaptation will initiate a $1 billion climate adaptation initiative for African youth, according to AfDB president Akinwumi Adesina. Adesina made the announcement on Sunday at the African Climate Youth Assembly, which was held in Nairobi, Kenya, prior to the Africa Climate Summit. The initiative, dubbed “Youth Adapt,” will provide seed funding for ideas and enterprises led by young people, according to him. The AfDB president said the programme has in the past funded over 33 businesses of African adolescents across 19 countries, adding that some of the businesses have further[…]
23
MayDr. Akinwumi Adesina, President of the African Development Bank (AfDB), has stated that the financial organization will lend $500 million to women by 2022. This comes as the bank’s Affirmative Action for Women in Africa (AFAWA) initiative raises $5 billion with the help of French President Emmanuel Macron and the G-7. This information is contained in a statement released by Adesina on his official Twitter account on Sunday, May 22, 2022, in which he also stated that the bank gave out $483 million to financial institutions to lend to women businesses in 2021. Adesina’s statement comes as the bank begins[…]