African Development Bank

The African Development Bank (AfDB) approved a USD 3.9 million technical assistance project (AESTAP Mission 300 Phase II) to support 13 African countries in implementing their National Energy Compacts. This initiative aims to connect 300 million Africans to electricity by 2030, enhancing the AfDB's role in regional development.

The African Development Bank approved a 6.5 million euro investment in the Saviu II fund, demonstrating its commitment to fostering technology startups in French-speaking Africa. This investment is part of the Boost Africa Programme, aiming to bridge funding gaps for early-stage ventures.

The African Development Bank launched the Integrated Aviation Transformation Program (IATP) to modernize Africa's aviation sector. This initiative aims to mobilize capital and implement policy reforms, positioning the African Development Bank as a key driver of economic development and regional integration.

The African Development Bank has signed an MoU with the European Stability Mechanism to enhance financial stability frameworks across Africa. This partnership is expected to support its objective of strengthening financial systems and leveraging international expertise.

The African Development Bank approved a $200 million loan to Nigeria for agricultural development, reinforcing its commitment to food security and economic resilience in Africa. This action aligns with its strategic vision of empowering youth and women through technology and finance.