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"AfDB"

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Business - Economy
6/24/2024 7:54:04 PM
Egypt has mobilized $2 billion in financings over the past few months, following negotiations with International Financial Institutions (IFIs) and multilateral and bilateral development partners, Minister of International Cooperation Rania Al-Mashat announced in a statement on Monday.

Business - Economy
12/18/2023 3:19:53 PM
Africa advanced efforts to develop an independent drug industry after Rwanda agreed to host the African Pharmaceutical Technology Foundation (APTF) in partnership with the European Investment Bank (EIB) and the African Development Bank (AfDB), according to a statement on Monday.

Business - Energy
12/3/2023 5:34:30 PM
The Egyptian Suez Canal Economic Zone (SCZONE) and the Ministry of Electricity and Renewable Energy signed agreements with Norwegian energy company Scatec, and a group of international financial institutions including the African Development Bank (AfDB) and British International Investment (BII) to launch three green energy projects in Egypt.

Business - Economy
12/3/2023 11:10:39 AM
The African Development Bank (AfDB) announced a financial package of $148 million to support the Commercial International Bank of Egypt (CIB) in its endeavors to strengthen small and medium enterprises (SMEs) and facilitate trade.

Business - Economy
11/29/2023 10:31:51 PM
African Development Bank (AfDB) downgraded its forecast of the growth rate of the gross domestic product (GDP) of Africa for 2023 and 2024 to 3.4 percent and 3.8 percent, respectively, from 4.0 percent and 4.3 percent.

Business - Economy
11/28/2023 4:10:27 PM
The African Development Bank (AfDB) approved a $131 million loan to Egypt with the aim of bolstering the government’s efforts to stimulate the private sector and diversify its green development following the COVID-19 pandemic and the ongoing conflict in Ukraine.

Business - Economy
7/18/2023 2:33:50 PM
Africa's total debt stock is estimated at $1.3 trillion, and the cost of debt reached $22 billion in 2022, with expectations that it will further increase in 2023, Akinwumi Adesina, president of the African Development Bank (AfDB) Group, said on Monday.

Business - Economy
5/27/2023 5:00:56 PM
Governor of the Central Bank of Egypt (CBE) Hassan Abdallah urged on Friday the African Development Bank (AfDB) to increase its lending to member states on concessional terms.

Business - Economy
5/25/2023 2:57:12 PM
Egypt's GDP growth is expected to increase to 4.8 percent in FY 2023/24, up from 4.4 percent in the current FY, according to the African Economic Outlook 2023.

Business - Economy
5/24/2023 6:41:10 PM
Egypt is seeking concessional loans from regional and international development partners to ensure sustainable spending on healthcare, education and food security programs, Minister of Finance Mohamed Maait said on Wednesday.

Business - Economy
5/24/2023 3:03:54 PM
The African Development Bank (AfDB) announced that it has mobilized $2.2 billion to fund Egypt's water desalination and treatment projects for agriculture, the bank's President Akinwumi Adesina announced on Tuesday.

Business - Economy
5/23/2023 11:10:00 PM
President Abdel-Fattah El-Sisi said Africa needs unconventional ideas and financing solutions to address pressing issues such as climate change and sustainable development.

Egypt - Foreign Affairs
5/23/2023 11:09:59 PM
Egyptian President Abdel-Fattah El-Sisi discussed relations with Comorian President Azali Assoumani and Zimbabwean President Emmerson Mnangagwa on the sidelines of the African Development Bank meetings, announced Spokesperson for the Presidency Ahmed Abu-Zeid on Tuesday.

Business - Economy
5/21/2023 6:36:05 PM
The 58th Annual Meetings of the Board of Governors of the African Development Bank (AfDB) and the 49th Meetings of the Board of Governors of the African Development Fund are set to kick off on Monday in the Egyptian city of Sharm El-Sheikh for five days.

Business - Economy
4/4/2023 9:55:28 PM
President Abdel-Fattah El-Sisi said on Tuesday that Egypt is looking forward to increasing cooperation with the African Development Bank (AfDB), during his meeting with the bank’s chairman, Akinwumi Adesina and his delegation in Cairo.

Business - Economy
3/29/2023 5:06:52 PM
Egypt secured a total of $2.6 billion in development financing from its multilateral and bilateral development partners for the private sector in 2022, according to the 2022 Annual Report “International Partnerships for Sustainable Development: From Pledges to Implementation” the Ministry of International Cooperation released on Wednesday.

Business - Economy
2/12/2023 3:33:29 PM
Actions by Egypt to increase the private sector’s role in the country’s economy are critical for its economic growth and job creation, the Secretary General of the African Development Bank (AfDB) Group Vincent O. Nmehielle told Ahram Online.

Business - Economy
1/27/2023 7:13:17 PM
The African Development Bank (AfDB) is working with Egypt to alleviate the impacts of the war in Ukraine on the country’s food security and agriculture, including by funding water projects, said the President of the AfDB Akinwumi Adesina.

Business - Economy
1/27/2023 2:05:11 PM
The African Development Bank (AfDB) Group in partnership with the government of Canada launched a new initiative aiming to support Africa’s small and medium enterprises (SMEs) in the agriculture sector.

Business - Economy
1/26/2023 6:43:55 PM
On its second day, the Dakar 2 Summit called for increasing and accelerating private sector investments in agribusiness as a promising area that contributes to Africa’s sustainable development and prosperity.

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