African development bank news & latest pictures from ibtimes.com

The African Development Bank Group is a development bank established in 1964 with the intention of promoting economic and social development in Africa. The Group comprises the African Development Bank (AfDB), the African Development Fund (ADF), and the Nigeria Trust Fund (NTF). AfDB provides loans and grants to African governments and private companies investing in the regional member countries (RMC) in Africa. It is owned and funded by member governments, and has a public-interest mandate to reduce poverty and promote sustainable development.

Sneaking Your Money Across Borders: Capital Flight On The Rise

An increasing number of people are trying more ways to sneak money out of countries that are buckling under the weight of the world's almost daily financial crises.

Guinea Bissau Junta Won't Hold Elections For Two Years

The military junta that seized control of Guinea-Bissau last week said on Thursday that they will hand power to civilian government in two years.

Bond Market Analysis: Investors Loading Up on Corporates, Banks in 2012

The volatility, panic, and the resulting tightening of investors' purses that dominated credit markets for much of 2011 is giving way to calm, creating a flood of cash from investors now confident enough to put their money back into corporate bonds. Somewhat surprisingly, crisis-exposed financial institutions, even in Europe, have been able to take advantage.

Swaziland"s King Mswati III attends the Southern African Development Community

Swaziland cash crunch critical, AIDS spending hit

A budget crunch in Swaziland, Africa's last absolute monarchy, has reached a critical stage with the government struggling to maintain spending on HIV/AIDS, education and the elderly, the International Monetary Fund said on Wednesday.

A minaret is reflected in the signage for the newly inaugurated African Development Bank

AfDB welcomes Uganda rate hike, trims growth outlook

The African Development Bank (AfDB) on Wednesday applauded Uganda's four percentage point interest rate hike aimed at taming rampant inflation and said the cycle of monetary tightening was expected to trim economic growth in 2011.

Malnourished Somali children are seen inside a paediatric ward at the Banadir hospital in Mogadishu

Hundreds dying daily as famine spreads in Somalia: UN

Famine has spread to six out of eight regions in southern Somalia, with 750,000 people facing imminent starvation, the United Nations said on Monday, and hundreds of people are dying each day despite a ramping up of aid relief.

Ivory Coast restarts project for third lagoon bridge

Ivory Coast restarted negotiations with financers and France's Bouygues on Monday to build a third bridge over Abidjan's main lagoon to ease congestion, 15 years after the project was first mooted.

Intelsat New Dawn Satellite Launch Rescheduled for April 22 (FULL TEXT)

Intelsat S.A., the world’s leading provider of fixed satellite services, announced today that the launch of Intelsat New Dawn has been rescheduled to Friday, April 22 at 5:37 p.m. (EDT). The satellite, loaded on an Ariane 5 rocket, will be launched from the Spaceport in Kourou, French Guiana.

Zimbabwe licenses five private power producers

Zimbabwe has licensed five independent power producers whose projects are aimed at helping a struggling power sector by doubling current electricity output to 4,450 megawatts, a government minister said on Friday.

Kenya wind power plan gets government's support letters

Plans for a delayed 300 MW wind farm in Kenya can now proceed after lenders agreed to rely on the government's assurance that it backed the plan, instead of proper guarantees, the chairman of the project said.