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The Africa Climate Change Fund, often known as the Fund or ACCF, is a multi-donor trust fund that is specifically designed to support the African Development Bank's (AfDB) efforts to finance climate change three times as much as possible while also advancing the bank's mission to create an Africa that is resilient to climate change.
Dr. Akinwumi Ayodeji Adesina is the 8th elected President of the African Development Bank Group, having taken the oath of office on September 1, 2015. He chairs the Boards of both the African Development Bank and the African Development Fund. Dr. Adesina served as Nigeria's Minister of Agriculture and Rural Development from 2011 to 2015.
Application for funding has been made to the African Development Bank (AfDB). [12] The estimated cost of the road was budgeted at approximately US$100 million, as reported by the Daily Monitor. [13] The cost is now budgeted at US$91 million (loan from AfDB) plus $41 million contributed by the government of Uganda for a total of US$132 million. [14]
The African Development Bank said Thursday it had approved a $1 billion loan to South Africa's state-owned rail and ports company, Transnet. The 25-year loan was wholly guaranteed by the South ...
Its Constitutive General Assembly of founding shareholders took place in July 2015 in Casablanca, with around $700 million in initial capital subscriptions from 20 African states and the AfDB. 90% of the financial pledges were earmarked for project financing and the remainder for project development.
2014 – Congress formally changed the Foundation's name in 2014 from the African Development Foundation (ADF) to the United States African Development Foundation (USADF) to reinforce that USADF is a U.S. federal government agency and not an NGO and to further differentiate USADF from the African Development Fund and African Development Bank.
The Africa Renewable Energy Initiative (AREI) is an African initiative to increase the use of renewable energy on the continent. [1]The goal of the program is to create integrated solutions that will enhance human well-being, expand access to clean energy services, and set African nations on the path to development that is both climate-friendly and sustainable.
The bank was ranked the best out of 33 institutions that submitted to the evaluation. [16] In 2015, the East African Development Bank was the first East African institution to obtain an investment grade rating of Baa3 by Moody's Investors Services. [15]