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  • The package consists of a $32 million line of credit from the African Development Bank and an additional $8 million in parallel financing from the Africa Growing Together Fund (AGTF)

    The Board of Directors of the African Development Bank on 15 April approved a $40 million financial package to support Angola’s Banco Millennium Atlântico (BMA) to bolster local production and job creation through its portfolio of small and medium-sized enterprises.

  • In January 2020, sixteen allegations of ethical misconduct were levelled against Adesina by a group of whistleblowers

    A much awaited report by an Independent Review Panel has completely exonerated the President of the African Development Bank, Akinwumi Adesina of any ethical wrongdoings.

  • While China is home to 7,000 pharmaceutical companies, and India 11,000, Africa by contrast has only 375, even though its population is roughly equal to half of the combined population of both Asian giants.

    African Development Bank Group President Akinwumi Adesina says an accelerated global health and economic effort is needed to overcome the COVID-19 pandemic in Africa.

  • The African Development Bank estimates that Covid-19 could cost Africa a GDP loss between $22.1 billion and $88.3 billion in the worst case scenario

    These are very difficult days, as the world faces one of its worst challenges ever: the novel coronavirus pandemic. And it seems almost no nation is spared. As infection rates rise, so does panic across financial markets, as economies drastically slow down and supply chains are severely disrupted. 

  • The following is the full statement by the President of the African Development Bank, Dr. Akinwumi A. Adesina, delivered at the Annual Meetings of the Bank in Malabo, Equatorial Guinea, on June 12, 2019.

  • Amadou Gon was an exemplary leader.

    Written By Akinwumi A. Adesina - July 8 was all like every normal day, focused on work. I had no inkling there would be a storm, even though we have weathered many storms and floods in Abidjan in recent times. Like a jolting bolt of thunder, everything changed when my wife, Grace, called my attention to a news item that the Prime Minister Amadou Gon Coulibaly had died. I told her this couldn’t be true as he just came back and as far as I knew he was fine.

  • Adesina had been accused of abuse of office by a whistleblower at the bank, including favoritism in hiring. He has denied the allegations.

    U.S. Treasury Secretary Steven Mnuchin on Thursday welcomed the African Development Bank’s decision to appoint former Irish President Mary Robinson to lead an independent probe of a report that cleared the bank’s chief of wrongdoing.

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