Angola’s economy continued to recover from the COVID-19 pandemic in 2022, supported by higher oil prices, improved oil production, and resilient non-oil activity. Non-oil growth was broad-based despite a challenging external environment. Growth is estimated at 3.5 percent for 2023. Headline inflation declined significantly to 13.8 percent y/y at end-December 2022, driven by lower global food prices, a stronger kwanza, and previous efforts by the central bank to tighten monetary policy.

ONGOING EVALUATION. The Independent Evaluation Department (IED) assesses the performance of ADF operations every 4 years and provides lessons and recommendations for improving its development effectiveness and informing the next replenishment. The previous evaluation focused on ADF XI and 12 operations (2013–2018) and support for Strategy 2020. 

The purpose of this evaluation is to examine the performance of Asian Development Fund (ADF) 12 and 13 concessional resources; and inform negotiations for ADF 14. The evaluation will focus on the allocation, use, and performance of ADB concessional assistance for ADF developing member countries (DMCs), primarily ADF grants in the 10 ADF grant-only countries and 3 ADF blend countries. It will draw from the ADF 13 midterm review (self-evaluation) and validate and update its findings on the thematic pool, disaster response facility (DRF+), pilot private sector window (PSW), and support for Afghanistan. The evaluation will examine the performance-based allocation (PBA) framework, the economic vulnerability premium (EVP) for small island developing states (SIDS), and the novel financing arrangement in Afghanistan. Lastly, given the introduction and prominence of ADF in the FCAS and SIDS Approach (FSA), the evaluation will assess the initial progress made since its adoption in 2021, and pay attention to the monitoring and evaluation systems to confirm that they provide timely evidence on ADF results.

What: High-Level Event on Key Actions to Drive Inclusive Growth and Sustainable Development in Africa
When: 17 February 2023 | 10.30 AM EAT.
Where: African Union Commission, Medium Conference Hall, and online

Implemented in Angola between 2019 and 2022, the Angola Renewable Energy Program (AREP) has helped to establish a viable and sustainable procurement framework that stimulates investments by Independent Power Producers (IPPs) in the Angolan renewable energy sector,

Mauritius has made critical strides in its public procurement system, but additional reforms are needed, according to an assessment report the African Development Bank released to the government on Tuesday.

What: Press Conference on Driving inclusive growth and sustainable development in Africa
Who:   African Union Commission and the African Development Bank Group
When: Friday, 17 February 2023 | 2:00 pm EAT (GMT+3)

The African Development Bank has provided over 50% of financing secured by infrastructure projects under the Programme for Infrastructure Development in Africa (PIDA), making it the lead financier of this strategic pan-African initiative.

What: 

High-level Side Event during the 36th Ordinary Session of the Assembly of the African Union

Who:

The African Development Bank Group and the Islamic Development Bank have signed a joint partnership action plan for the development of the pharmaceutical industry sector within their African member countries. The plan offers a new framework for strengthened cooperation and mutual development priorities,...

The AfricaGoGreen Fund (AGGF) has made headlines today with the announcement of its successful second fundraising close, securing $47 million in combined investments from top financial organizations, including the International Finance Corporation (IFC), the African Development Bank (AfDB), the Nordic Development Fund (NDF...