Tag: AfDB
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AfDB president calls for global focus on Africa’s rural poverty
The President of the African Development Bank Group (AfDB), Akinwumi Adesina, has called for urgent action to end rural poverty in Africa. He spoke at a conference on the future of the rural world in Berlin, Germany, where in 1884, Africa was partitioned by European colonialists. “We must pay particular attention to three factors: extreme…
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AFDB approves $280m for Nigerian youths in agriculture
The President of the African Development Bank (AFDB), Dr Akinwumi Adesina, has said the AFDB is supporting Nigerian youths in the agro-business with the $280 million. Adesina, represented by Dr Chiji Ojukwu, a Director in AFDB, stated this on Tuesday in Ibadan at the African Youth Agripreneurs (AYA) Forum organised by the International Institute of…
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AfDB approves $155m loan for Nigeria’s power sector
The Africa Development Bank, AfDB says it has approved a loan of $155m for Economic and Power Sector Reform Programme in Nigeria. The Senior Communications Officer of AfDB, Fatimah Alkali, in Abuja on Friday said that the loan became effective in October, 19, 2012. Recent media reports had indicated that there might be a face-off…
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FG, AfDB to spend $175m on irrigation, markets
The Federal Government says it will spend 175 million US dollars to rehabilitate agricultural and ancillary social infrastructure in seven states under its Agricultural Transformation Support Programme Phase one (ATASP-1). The National Coordinator of ATASP-1, Mr Haruna Akwashiki, disclosed the plan while speaking with newsmen in Abuja on Tuesday. TheNewsGuru.com reports the project would be…
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AfDB to partner Sokoto Govt. to fund agro-industrial park for North West
The African Development Bank (AFDB) will partner with the Sokoto State Government in its plans to establish an agro-industrial park for the North West geo-political zone, its President, Dr. Akinwumi Adeshina, has said. As a starting point to the realization of the overall objective of the project, cotton production would be given priority attention in…
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Buhari’s govt signs Joint Development Agreement, to boost power supply
The government of President Muhammadu Buhari has yesterday signed a Joint Development Agreement (JDA) with key investors with the view to securing investment into the 100 MW (DC) Nova Scotia Power plant located in Dutse in the Northern Nigerian state of Jigawa. Signing the agreement, the stakeholders said the project has the potential to significantly…
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AfDB gets fund manager for ETF in Africa, approves $25m for ADBF
The African Development Bank (AfDB) has appointed MCB Investment Management (MCBIM), a subsidiary of MCB Capital Markets, as fund manager for its first multi-jurisdictional Fixed Income Exchange Traded Fund (ETF) in Africa. Stefan Nalletamby, the AfDB’s Director for Financial Sector Development, commented: “In developing markets, it is particularly important for the lead institutions to act…