MOROCCO GETS €84M FROM AfDB FOR RURAL DEVELOPMENT PROJECTS

MOROCCO GETS €84M FROM AfDB FOR RURAL DEVELOPMENT PROJECTS

The African Development Bank (AfDB) has approved an €84 million initiative aimed at enhancing Morocco’s environmental and economic resilience. The “Inclusive and Sustainable Development Project for Forest Areas” targets vital issues such as water management, biodiversity conservation, and the development of a rural middle class. This initiative comes as Morocco faces increased vulnerability to climate change, highlighted by severe droughts between 2021 and 2023. Aligned with the Moroccan government’s 2024 priorities—countering climate change impacts, bolstering…

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AFDB PRESIDENT ANNOUNCED US$3.5-5BILLION DEVELOPMENT FUND FOR LIBERTY CORRIDOR

AFDB PRESIDENT ANNOUNCED US$3.5-5BILLION DEVELOPMENT FUND FOR LIBERTY CORRIDOR

The President of the African Development Bank (AfDB), Dr. Akinwumi A. Adesina, announced during the Bank’s 2024 Annual Meeting in Nairobi, Kenya, that the AfDB is mobilizing $3.5 billion to $5 billion for the development of the Liberty Corridor, which will link Liberia and the Republic of Guinea. This major infrastructure project aims to connect the Buchanan Port in Liberia with an iron ore mining concession in Guinea, led by a consortium including HPX and…

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AfDB PRESIDENT CONCLUDE TWO DAYS VISIT FOR DR CONGO DEVELOPMENT PROJECTS

AfDB PRESIDENT CONCLUDE TWO DAYS VISIT FOR DR CONGO DEVELOPMENT PROJECTS

African Development Bank President Dr. Akinwumi Adesina has concluded a two-day visit to the Democratic Republic of Congo for high-level talks on accelerating strategic development projects in the country.   The visit, which began on Friday, January 19th, saw his participation in a breakfast meeting with several key cabinet ministers: Aimé Boji Sangara, Minister of State in charge of Budget; Minister of Industry Julien Palulu; José Mpanda, Minister of Agriculture; and Minister of Water Resources…

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HOW TOGO MINISTER PRESENTED PROPOSED INFRASTRUCTURAL PLANS TO AfDB

HOW TOGO MINISTER PRESENTED PROPOSED INFRASTRUCTURAL PLANS TO AfDB

Held in Marrakech, Morocco, the Africa Investment Forum saw Togo represented at the event by its Minister of Investment Promotion, Manuella Santoshe. At the forum, the Togolese official presented various projects, including the railway project, going from Lomé to Cinkassé, and the undergoing Unité highway project, both of which require substantial funding. She also presented the various investment opportunities that make Togo a perfect investment destination. According to Santos, the AfDB is available to support…

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AfDB ANNOUNCED PLANS FOR CONSTRUCTION OF ABIDJAN TO LAGOS HIGHWAY

AfDB ANNOUNCED PLANS FOR CONSTRUCTION OF ABIDJAN TO LAGOS HIGHWAY

African Development Bank (AfDB) Group has reiterated its commitment to funding the construction of the Abidjan to Lagos highway. The bank, in a statement on its website, said it was playing a leading role in mobilizing funding for the project. It said that Heads of State in the Economic Community of West African States (ECOWAS) had decided to speed up the construction of the highway. “The bank has already contributed 25 million dollars to fund…

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AFDB APPROVED FUNDS FOR CONSTRUCTION OF SOLAR POWER PLANT IN TUNISIA

AFDB APPROVED FUNDS FOR CONSTRUCTION OF SOLAR POWER PLANT IN TUNISIA

The Board of Directors of the African Development Bank (AfDB) Group approved a $27 million (about TND 85.3 million) and €10 million (nearly TND 33.5 million) loan package to co-finance the construction of a 100-megawatt Solar power plant in Kairouan, Tunisia, the AfDB said on Thursday. The Board approval covers $10 million and another €10 million from the Bank, and $17 million concessional financing from the Sustainable Energy Fund for Africa (SEFA), a special multi-donor…

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AFDB TO INVEST US$20M INTO AFRICA’s RENEWABLE ENERGY

AFDB TO INVEST US$20M INTO AFRICA’s RENEWABLE ENERGY

The Board of Directors of the African Development Bank Group today approved an equity investment of $20m in Evolution Fund III, a pan-African clean and sustainable energy private equity fund that is mobilizing about $400m into renewable energy and resource-efficiency assets across sub-Saharan Africa over 10 years. Inspired Evolution Investment Management is a  fund manager with more than 15 years of experience and a track record of deploying more than $310m in renewable energy projects…

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AFDB PRESIDENT EXPRESS SATISFACTION OVER FUNDS USEAGE FOR POKUASE INTERCHANGE IN GHANA

AFDB PRESIDENT EXPRESS SATISFACTION OVER FUNDS USEAGE FOR POKUASE INTERCHANGE IN GHANA

The President of the African Development Bank, Akinwumi Adesina, has commended the government for putting the Pokuase Interchange money to the benefit of the country. The US$84 million the bank gave the Government of Ghana was for a Three-Tier interchange, but that same amount was used to construct all four tiers, a feat that must be commended, he stated. Mr. Adesina made this remark when accompanied by officials of the bank to inspect and finally…

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WHY AFRICA CANNOT OUTSOURCE IT’s HEALTHCARE SECURITY

WHY AFRICA CANNOT OUTSOURCE IT’s HEALTHCARE SECURITY

African Development Bank Group President Dr Akinwumi Adesina has said that the most important lesson of the Covid-19 pandemic for Africa is the need to build a defense mechanism against external shocks, especially in healthcare and financial security. “Investing in health is investing in national security,” Adesina told African leaders on Saturday, at the opening of the 35th African Union Assembly in the Ethiopian capital. “Africa cannot afford to outsource the healthcare security of its…

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SENIOR TRANSPORT ENGINEER, RDGW3 AT AFDB, KENYA

SENIOR TRANSPORT ENGINEER, RDGW3 AT AFDB, KENYA

The Senior Transport Engineer will support the implementation of the Bank Group’s vision for transport infrastructure and related services, and its future prospective areas of intervention in the sector. The main work objectives of the position are the following: Contributing to the development of transport infrastructure and the sector as a whole, including strengthening and maintaining the Bank Group’s understanding of the sector’s role in national development; Contribute to Preparing, supervising and implementing transport sector…

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AFDB APPROVES GRANTS FOR BRIDGE CONSTRUCTION LINKING CHAD AND CAMEROON

AFDB APPROVES GRANTS FOR BRIDGE CONSTRUCTION LINKING CHAD AND CAMEROON

The Board of Directors of the African Development Bank Group has approved grants worth €40.94 million for the construction of a bridge to connect Cameroon and Chad across the Logone river. The grants, comprising a €20.785 million tranche for Cameroon and €19.215 million for Chad, were approved on 30th April 2020. The facility is from the Investment Facility for Africa under a framework agreement between the Bank Group and the European Commission. The funds will…

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AFDB SIGN LOAN DEAL WITH SOUTH AFRICA TO BOOST TRANSPORT SYSTEM

AFDB SIGN LOAN DEAL WITH SOUTH AFRICA TO BOOST TRANSPORT SYSTEM

In a bid to help develop the nation’s transport system, The African Development Bank (AFDB) and SA Taxi Development Finance Proprietary Limited has signed a loan agreement. The deals which is worth US$100 million will help support the firm growing strategy to empower taxi operators with limited access to finance from traditional financiers. African Development Bank boosts South Africa’s transport sector through a $100 million loan agreement to SA Taxi. The funds will be used…

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AFDB APPROVES GRANTS FOR SMALL RENEWABLE ENERGY PROJECTS

AFDB APPROVES GRANTS FOR SMALL RENEWABLE ENERGY PROJECTS

The African Development Bank under its Sustainable Energy Fund for Africa (SEFA), has approved a US$760,000 grant to Empower New Energy AS (EmNEW), to develop at least eight small renewable energy projects with capacity ranging from1-10 MW, towards bankability and construction. The grant will support a broad range of project preparation and development activities. These will include; technical feasibility studies, legal due diligence, environmental and social impact assessment, quality assurance and risk management. The African…

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AFDB AND GHANA SIGN DEAL TO FINANCES EASTERN CORRIDOR ROAD

AFDB AND GHANA SIGN DEAL TO FINANCES EASTERN CORRIDOR ROAD

AFDB agreed loan worth US$81.67m to Ghana’s Eastern Corridor Road Development Programme Phase 1 project. Africa Development Bank (AFDB) has sign a loan agreement with Ghana government to finance a road project. The loan which is worth US$81.67m is for the Eastern Corridor Road Development Programme Phase 1. During a press briefing, Deputy Minister for Finance, Mrs Abena Osei Asare told the media about the deal before the signing process. According to her the Eastern Corridor…

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AFDB TO INVEST IN NIGERIA WATER AND SANITATION SECTOR

AFDB TO INVEST IN NIGERIA WATER AND SANITATION SECTOR

AFDB to invest fund into Nigeria water and sanitation projects. The Africa development Bank (AFDB) is seeking to invest U.S.$250 Million in Nigeria Capital city. According to reports from Daily Trust, the fund will be used for Federal Capital Territory Water and Sanitation Integrated project. Ebrima Faal, a Senior  Director of African Development Bank led a six-man delegation to the office of the FCT Minister of State. This project is aimed at improving water supply…

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YOUNG PROFESSIONALS PROGRAM (YPP) AT AFDB

YOUNG PROFESSIONALS PROGRAM (YPP) AT AFDB

The Africa Development Bank (AFDB) is to spur sustainable economic development and social progress in its regional member countries (RMCs), thus contributing to poverty reduction. The Bank Group achieves this objective by: Mobilizing and allocating resources for investment in RMCs; and Providing policy advice and technical assistance to support development efforts. The Bank is headquartered in Abidjan, has 5 Business Regional Resource Offices, 30 Country offices, 5 Program Offices and a Liaison Office in Japan….

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AFRICA DEVELOPMENT BANK APPROVED FINANCING PROGRAM FOR DESCOs

AFRICA DEVELOPMENT BANK APPROVED FINANCING PROGRAM FOR DESCOs

Sub-Saharan Africa need funds for electricity production but will financial providers stop worrying about political, regulatory and administrative barriers? Sub-Saharan Africa’s energy systems face an enormous challenge due to low electricity generated. This has made Africa Development Bank (AfDB) to approve an innovative multinational financing program for Distributed Energy Service Companies (DESCOs). DESCOs are like commercial utility companies that provides their customers with desired energy services. This desired energy services entails sufficient electricity for lighting…

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SOUTH SUDAN WATER PROJECT TO GET US$24.7m FROM AFDB

SOUTH SUDAN WATER PROJECT TO GET US$24.7m FROM AFDB

AfDB to finance South Sudan water and sanitation project with US$24.7m To support a developmental project in South Sudan, African Development Bank (AfDB) board of directors have approved a commitment of US$24.7m. The project receiving AfDB finance is titled South Sudan Strategic Water Supply and Sanitation Improvement Project. The project entails rehabilitation of about 50km of Juba town distribution network and also related works such as metering and public water collections outlets. There will also…

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AFDB PREPARE FINANCIAL PACKAGE FOR ZIMBABWE

AFDB PREPARE FINANCIAL PACKAGE FOR ZIMBABWE

AFDB to prepare financial package for Zimbabwe after impressive economic reform Africa development Bank has set up a plans to help Zimbabwe. The financial package comes as a result of the nation impressive political and economic reforms. Speaking during the 54th Meeting of Boards of Governors of the AfDB, Dr Kapil Kapoor  confirmed the package. According to him the bank are happy with the reform after meeting with Minister Professor Mthuli Ncube. Dr Kapil Kapoor…

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AFDB PLEDGE MORE SUPPORT TOWARDS INFRASTRUCTURE IN AFRICA

AFDB PLEDGE MORE SUPPORT TOWARDS INFRASTRUCTURE IN AFRICA

AFDB plans support for regional integration among Africa countries with investment in infrastructure, industrialisation and trade. African Development Bank (AFDB) has announce plans to support African countries towards achieving deeper regional integration. This will be through investment in regional infrastructure development, industrialisation and trade. Speaking during the 54th AFDB Annual Meetings conference in Equatorial Guinean capital Malabo, AFDB President, Akinwumi Adesina made the commitment. AFBD President Akinwumi Adesina said “Massive investments in regional infrastructure and…

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