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African Development Bank

All articles tagged with #african development bank

world7 months ago•4 min saved

Sidi Ould Tah Elected as New President of the African Development Bank

Sidi Ould Tah was elected as the new president of the African Development Bank with a large majority after three rounds of voting, becoming the 9th president for a five-year term. He leverages his experience leading BADEA and his diplomatic networks, including support from Saudi Arabia and the African Union, to shape the bank's future strategy focused on reform, industrialization, and unlocking large-scale capital for Africa's development.

via The Africa Report.com|

#africa-development #african-development-bank #finance

politics2 years ago•1 min saved

AfDB proposes fast-track compensation plan for Zimbabwean farmers.

The African Development Bank (AFDB) has proposed financial instruments to "fast track and front load" $3.5 billion in compensation to white farmers whose land was taken by Zimbabwe's government. The bank's president, Akinwumi Adesina, did not provide details of the proposed instruments. Zimbabwe agreed in 2020 to compensate local white farmers whose land was taken by the government from 2000 onwards to resettle Black families. The country has more than $14 billion in external debt and has not been able to secure financing from the likes of the International Monetary Fund in more than two decades due to its arrears.

via Reuters.com|

#african-development-bank #debt-arrears #land-compensation