The African Development Bank (AfDB) is a multilateral development finance institution that aims to promote sustainable economic development and social progress in Africa. The AfDB supports various projects and initiatives across the continent, covering sectors such as infrastructure, energy, agriculture, health, education, and climate change. Here are some of the highlights from the AfDB news in November 2023:
AfDB collaborates with the U.S. to accelerate Africa’s digital transformation
On November 28, the AfDB and the U.S. Commercial Service announced a new strategic collaboration to drive digital transformation across Africa. The collaboration will leverage the U.S.-Africa Business Center, a platform that connects U.S. and African businesses, to facilitate trade and investment opportunities in the digital sector. The collaboration will also support the implementation of the AfDB’s Digital Transformation Strategy for Africa, which aims to create 100 million jobs and generate $5 billion in revenue by 2030.
AfDB signs three agreements with Libya for technical assistance
On November 27, the AfDB signed three agreements with the Government of National Unity (GNU) of Libya to provide technical assistance to the country. The agreements cover the areas of public financial management, governance and institutional support, and private sector development. The agreements are part of the AfDB’s efforts to reaffirm its commitment to the support of Libya, which has been affected by political instability and conflict since 2011.
AfDB approves $102.6 million support for Ethiopia’s COVID-19 response
On November 10, the AfDB approved a $102.6 million grant to Ethiopia to help the country cope with the impact of the COVID-19 pandemic. The grant will support the implementation of the Ethiopia COVID-19 Emergency Crisis Response Program, which aims to mitigate the health, social, and economic effects of the pandemic. The program will focus on strengthening the health system, enhancing social protection, and boosting economic recovery.
AfDB participates in the African Economic Conference 2023
From November 20 to 22, the AfDB participated in the African Economic Conference 2023, which was held in Cape Town, South Africa. The conference, which was co-organized by the AfDB, the United Nations Development Programme, and the United Nations Economic Commission for Africa, brought together policymakers, researchers, and practitioners to discuss the theme of “Industrialization, Digitalization, and Youth Employment in Africa”. The conference featured various sessions and panels on topics such as skills development, public-private partnerships, industrial policies, and global value chains.
AfDB launches the “Entrepreneurial Profile of Tunisia” study
On November 13, the AfDB launched the study “Entrepreneurial Profile of Tunisia” at a consultation workshop in Tunis. The study, which was conducted by the Task Force for Entrepreneurship and SMSEs for employment impacts in North Africa, of the AfDB, provides an analysis of the entrepreneurial ecosystem in Tunisia and identifies the challenges and opportunities for entrepreneurship development. The study also proposes recommendations and action plans to foster a conducive environment for entrepreneurship and innovation in the country.