Business highlights – May 24, 2018

Business highlights – May 24, 2018

NBK, KRA sign agreement to support AGPO suppliers

Business suppliers under the Access to Government Procurement Opportunities (AGPO) programme are set to receive a major boost from a Memorandum of Understanding signed between the National Bank of Kenya and Kenya Revenue Authority.Following the signing of the agreement National Bank will establish a financing facility focusing on qualifying suppliers to KRA. The bank will also provide KRA with data of the suppliers financed under the partnership.

Cimate and disaster risk financing get fresh boost from AfDB

The President of African Development Bank, Akinwumi A. Adesina, and the Bank’s Board of Governors held a high-level session on “Climate and Disaster Risk Financing” focusing on the Role of the African Risk Capacity (ARC) and the Africa Disaster Risk Financing Program (ADRiFi) on Wednesday in Busan, Korea. The high-level session, part of the 53rd African Development Bank Group Annual Meetings underway in Busan, Korea, provided a platform for African Ministers of Finance, the Economy and Planning, who form its Board of Governors, to extend ongoing discussions between the Bank and regional member countries on the importance of disaster risk financing solutions in building resilience and protecting development gains.

African Legal Support Facility Governing Council and Management Board meets in Busan

The African Legal Support Facility (ALSF) held its 25th Management Board and 9th Governing Council meetings on 20 and 21 May 2018 respectively, on the margins of the 2018 African Development Bank Annual Meetings in Busan, Korea. The members reviewed the 2017 activities of the ALSF and discussed the future plans for the institution.The Board approved, and the Governing Council subsequently endorsed the 2017 Annual Report and Audited Financial Statements. Regarding the implementation of ALSF projects, the members took note of the increased volume and effectiveness of the Facility’s work. The Board and Governing Council members also recognized the growing demand for ALSF’s services. They underscored importance of the Facility in the years ahead. To respond effectively to the Regional Member Countries (RMCs) needs, the Board and Governing Council members observed that it will be imperative for the Facility to meaningfully engage with various stakeholders as well as continue to be creative, innovative and efficient.

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