For the past five decades, the African Development Bank AfDBGroup has been at the forefront of driving Africa’s economic transformation, leveraging its diverse resources and unique know-how as an indigenous development finance institution.
Here are highlights of the Bank’s achievements:
Landmark General Capital Increase: At an extraordinary shareholders’ meeting in October 2019 in Abidjan, Governors of the African Development Bank, representing shareholders from 80 countries, approved a landmark $115 billion increase in capital for the continent’s foremost financial institution.
The replenishment represented a 35% increase in financing for low-income African countries at the end of the fifteenth replenishment of the African Development Fund, the concessional window of the Bank Group.
Resource mobilization for Women-Owned Businesses at G7 summit: At the G7 summit of world leaders in Biarritz, France, in August 2019, the President of the Bank Group, Akinwumi Adesina, successfully launched a global campaign of the Affirmative Finance Action for Women in Africa (AFAWA) to mobilize $3 billion for women entrepreneurs in Africa, with strong support and resources from G7 leaders and nations.
COVID-19 Social Bond: In March 2020, the Bank raised an exceptional $3 billion in a three-year bond to help ease the economic and social impact of the Covid-19 pandemic on livelihoods and Africa’s economies.
