Tag: AfDB
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Nigeria seeks fresh $3.5b loan from IMF, AfDB amidst COVID-19 pandemic
Nigeria’s finance minister Zainab Ahmed said the country has applied to the International Monetary Fund (IMF) and African Development Bank (AfDB) to access $3.5 billion in concessional funding to support the 2020 Budget. Ahmed disclosed this on Monday during a news conference in Abuja. She outlined the fiscal stimulus measures that the government is implementing…
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Debt Burdens: Your report on Nigeria, others wrong, misleading, AfDB fires back at World Bank
The African Development Bank (AfDB) has clarified the debts incurred by Africa and explained that the World Bank, with a more substantial balance sheet, had significantly larger operations in Africa than the AfDB. AfDB made this known in a statement by its Communication and External Relations Department on Thursday. According to the bank, the World…
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AfDB, Others Worsening Nigeria’s Debt Burden – World Bank
The World Bank Group and the International Monetary Fund (IMF) have warned Nigeria, South Africa and other low-income nations to be careful with activities of the International Financial Institutions (IFIs) such as the African Development Bank (AfDB), Asian Development Bank, the European Bank for Reconstruction and Development and others because these international lenders are adding…
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World Bank, AfDB, others no longer willing to approve loan requests from Nigeria – FG
…Says only China responsive Multilateral lending institutions including the World Bank and the African Development Bank (AfDB) are no longer willing to grant credit facilities to Nigeria, the Federal Government said on Tuesday. It said that informed its decision to approach China for the bulk of the external loans. Minister of Finance Budget and Planning…
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AfDB Presidency: ECOWAS endorses Adesina for second term
The Economic Community of West African States (ECOWAS) has endorsed the candidacy of African Development Bank President Akinwumi Adesina for a second term at the helm of the institution. The decision was announced at the end of the fifty-sixth ordinary session of the Authority of Heads of State and Government of ECOWAS, held on Saturday…
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Buhari nominates Adesina for re-election as AfDB President
President Muhammadu Buhari has nominated Dr Akinwunmi Adesina for re-election as the President of African Development Bank (AfDB). Akinwunmi, while speaking at an event in Lagos on Sunday, commended Buhari for nominating him for re-election for a second term as president of the bank. According to Adesina, Nigeria has invested so much in me. “When…
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Cote d’ Ivoire appoints minister to support Adesina’s re-election as AfDB president
President Alassane Ouattara of Côte d’ Ivoire has appointed Adama Koné Minister of Economic and Financial Affairs to support the re-election of Dr Akinwumi Adesina as President of the Africa Development Bank (AfDB). Quattara said this at the first Council of Ministers of the country’s new government team on Friday. He explained that Koné, a…
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Gov. Fayemi visits AfDB, makes case for increased investments in Ekiti
Ekiti Government in Nigeria has identified infrastructure, agricultural-processing zones, air cargo facilities and a knowledge hub as critical areas that need support from the African Development Bank (AfDB) to help transform the state. The bank said on its website accessed by News Agency of Nigeria (NAN) that the request for the support was made by…
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Boko Haram: AfDA confirms investing $258m on rehabilitation of damaged infrastructures
The African Development Bank (AfDB) has so far invested 258 million dollars towards the rehabilitation of damaged infrastructural facilities in the Northeast region of the country. The President of AfDB, Nigeria’s Dr Akinwumi Adesina, disclosed this when he fielded questions from State House correspondents in Abuja on Tuesday. He said the affected areas of intervention…