AFDB Archives - Page 2 of 3

KENYA THWAKE DAM GETS US$235M LOAN FROM AFDB

Posted on November 22, 2018November 22, 2018 by Gambeta News

Africa development bank (AFDB) approve two loans for the completion of Thwake dam in Kenya. Africa development bank (AFDB) is making wave this period with its latest offer to Kenya. After releasing its AIIF3 just a couple of days ago, the firm has also approve two loans to Kenya. This loan which is worth US$235m is for the completion of the Thwake dam on Thwake River in Kenya. The completion of the Dam is important because…

AFRICAN NATIONS TO GET US$40M FROM AFDB FOR INFRASTRUCTURE DEVELOPMENT

Posted on November 19, 2018November 19, 2018 by Gambeta News

AFDB plans to release US$40m under the Africa Infrastructure Investment Fund (AIIF) to its Regional offices in Africa. Developing Africa infrastructure is vital if the continent wants to reach the peak of its development. This is why Africa Development Bank (AFDB) is spurring sustainable development and social progress in the continent. In a bid to achieving their set mission, the Bank has set a new lifeline for infrastructure funding in the continent. Meanwhile, this new lifeline…

AFDB APPROVE LOAN FOR KAMPALA-JINJA EXPRESSWAY PROJECT IN UGANDA

Posted on November 7, 2018 by Gambeta News

AFDB approves loan for Kampala-Jinja Expressway project in Uganda. Uganda has receive a loan worth US$229.5 million from the African Development Bank. This loan is to help finance phase one of the Kampala-Jinja Expressway project. Meanwhile, the aim is to help Uganda reinforce its position as a regional transit hub. It will also help support its ambition to propel its economy into middle-income status by 2020. The Expressway will form part of the northern trade corridor from Mombasa in Kenya…

NAMIBIA MINISTER FOR FINANCE ASK AFDB TO STOP PROJECT TENDER

Posted on October 18, 2018 by Gambeta News

Namibia Minister ask AFDB to hold tender process for major projects in the nation. Minister for Finance, Calle Schlettwein has ask African Development Bank to stop the tender process for the rail and road project. This is as a result of dispute that the project will only favour foreign firm. The minister has request for the process to be on hold as it will not favour local contractors. He also stress that the bank has procurement regulations, but…

GHANA GET US$1.5M FROM AFDB FOR ENERGY EFFICIENCY

Posted on October 11, 2018 by Gambeta News

AFDB give Ghana US$1.5m as part of its plans to develop Africa’s energy deficits. Ghanaian government has receive the sum of US$1.5m for its energy sector. This funds is from the African Development Bank Group (AFDB) with will help support the nation for energy generation. It will also help Ghana in terms of removing barriers to investment in renewable energy efficiency. Meanwhile, AFDB feels that Ghana has the right tools in place to achieve universal access…

AfDB : US$ 30m TO CONCLUDE CONNECTIVITY IN KENYA POWER SECTOR.

Posted on July 27, 2018 by Gambeta News

Kenya Power will see its funding for the Last Mile Connectivity Project doubled by African Development Bank (AfDB). AfDB gives Kenya US $30m for the first phase and second phase one of the Last Mile project money. The funds will cover 600,000 Kenyan households connected to electricity with 314,000 targeted in the initial phase. The Government is enhancing connectivity for Kenyan citizens from the funds advanced to the country. Funds will be implemented in projects…

AFDB INVESTS US $12Bn IN NIGERIA POWER SECTOR.

Posted on July 9, 2018 by Gambeta News

The African Development Bank has revealed plans to invest US $12bn in Nigeria’s energy programme. AfDb President Akinwumi Adesina,confirmed the statement during the inaugural edition of the Africa Energy Market Place. Therefor there is need to act speedily to accelerate the plans to light up and power Africa. “The bank has made a US $12bn investment commitment to its new deal on Energy for Africa programme. Sub-Saharan Africa currently has 14 % of the world’s population and…

AfDB AWARDS BEST AFRICAN FINANCE MINISTER TO GHANA

Posted on May 24, 2018 by Gambeta News

Ghana Finance Minister receives African Finance Minister of the year award. At the annual meeting of the African Development Bank (AfDB) in Busan, South Korea, Ghana’s Finance Minister, Ken Ofori-Atta was named African Finance Minister of the year. This award is in recognition of the recent positive performance of Ghana’s macro-economy under the watch of Mr. Ken Ofori-Atta. Also recognizing him as Africa’s most results-oriented Finance Minister, Ken Ofori-Atta boosted confidence and optimism in Ghana’s economy. Exhibiting prudent economic management…

AfDB APPROVES U$1.5m SOLAR POWER PROJECT GRANT IN NORTHERN NIGERIA

Posted on May 16, 2018May 16, 2018 by Gambeta News

Jigawa State Solar power progamme gets US$1.5m grant from AfDB. The US$1.5m grant for the implementation of Jigawa state “One Giga Watt (GW) Independent Power Producer (IPP) Solar Procurement Programme”, have received approval from the African Development Bank (AfDB). The approval shows the commitment of the bank towards developing renewable energy and also increasing energy to one GW capacity. The grant will support the completion of outstanding technical and feasibility studies. Which also include the design of a…

TANZANIA SEEKS AID FROM AfDB FOR MEGA PROJECTS

Posted on May 11, 2018 by Gambeta News

Tanzania turn to AfDB for Power and Airport projects funding Tanzania President Magufuli said that the country is in talks with the African Development Bank (AfDB) to finance two mega projects. These projects are Stiegler’s Gorge hydroelectric plant project and the modernization of Dodoma Airport. According to the president, the expectation is that construction of these projects will begin July. AfDB President, Mr Adesina Akinwumi said despite the country’s focus on the two projects, the bank is also…

TANZANIA SEEK SUPPORT FOR POWER PLANT PROJECT

Posted on April 30, 2018April 30, 2018 by Gambeta News

Tanzania Government seek fund for power plant project from AfDB. Tanzania Government is seeking for fund from African Development Bank(AfDB) for its power plant project. President John Magufuli request for the support from AFDB, During a talk on Tanzania’s administrative capital Dodoma. AFDB has received the request and is currently reviewing it with the board of director. Furthermore it is still funding the construction of the Stiegler’s Gorge dam on the Rufiji river. The huge project will protect the Selous game…

AfDB GIVES GHANA US$20m LOAN FOR ROAD CONSTRUCTION

Posted on February 7, 2018 by Gambeta News

Ghana gets loan from AfDB to construct alternative for Adomi bridge. The African Development Bank (AfDB) have released US$20m loan to Ghana for the construction of a link road. The link road is between Volivo to Dorfor Adidome, where another bridge needs to cut across the Volta lake near the Togo border. This new 54-meter bridge, will serve as an alternative to the Adomi bridge. It will help ensure free flow of traffic whenever there is routine…

AFDB SIGN US$94.52M CONTRACT FOR UGANDA ROAD PROJECT

Posted on January 26, 2018January 29, 2018 by Gambeta News

AFDB loans US$94.52m to uganda for the Kapchorwa-Suam-Kitale and Eldoret Bypass Roads Project. Africa Development bank(AFDB) held a meeting with uganda government about the construction of a major road project in the nation that will help the country construction sector. The contract was signed after the meeting and a loan of US$94.5m was given to the government for the Kapchorwa-Suam-Kitale and Eldoret Bypass Roads Project which will link uganda and kenya. AfDB Director General, Gabriel Negatu, “The…

AfDB REWARDS NIGERIA AS LARGEST REGIONAL SHAREHOLDER

Posted on January 16, 2018 by Gambeta News

AfDB sets up state-of-the-art ‎office complex, to consolidate Nigeria as largest regional shareholder. According to the communications department of the ‎African Development Bank (AfDB), the bank‎ has rewarded Nigeria as the bank’s largest regional shareholder by setting up a state-of-the-art ‎office complex, which will be commissioned by President Muhammadu Buhari in Abuja.‎ Nigeria is the bank’s largest shareholder with a portfolio of about US$6 billion and its operations accounts for 13 percent of the Bank’s total portfolio. The state-of-the-art Nigeria…

AFDB APPROVE LOANS TO IVORY COAST AND MOROCCO FOR RENEWABLE PROJECTS

Posted on December 14, 2017 by Gambeta News

Ivory coast and Morocco gets loan from AFDB for Renewable projects. The both country are set to get US $324m loan from the Africa development bank to support projects in their countries that will increase power supply and keep economic growth on track. Morocco is expected to get US $265m which will help develop two solar power plants (NOORM I and NOORM II) at a total cost of US $2.3bn with a cumulative capacity of…

CONSTRUCTION OF GUINEA’S NEW BAUXITE MINE GETS FUNDS FROM AFDB

Posted on December 14, 2017 by Gambeta News

AFBD approve loan for new bauxite mine construction in Guinea which will help achieve the nation Vision 2035 goals. Africa Development Bank (AFDB) has continue its strategic priorities on development with the approval of US $100m loan for a railway, port and mine construction in Guinea with the project in line with at least two of the Bank’s five strategic priorities; High 5: “industrialize Africa” and “improve the lives of people in Africa”. The project is…

AFDB APPROVES €112M LOAN FOR TUNISIA ROAD PROJECT

Posted on November 23, 2017 by Gambeta News

Tunisia secure loan for north-east connectivity road from AFDB. The loan which is for the north-east connectivity road support project was approved by the board of the African Development Bank Group (AfDB) that will help Tunisia economy more competitive. The project is aimed at supporting the growing demand for the traffic of goods and people in Bizerte as well as better mobility and improved connections between the northern and eastern regions of the country. AfDB’s…

AfDB offers Ghana Agricultural sector US$60m loan

Posted on November 21, 2017 by Gambeta News

AfDB is set to approve US$60m loan to support farmers in Ghana’s Northern Savannah region. The Board of Directors of African Development Bank (AfDB) are currently considering the approval of a US$60 million loan to support Ghana’s government Planting for Food and Jobs programme, which is a flagship programme that aims to encourage Ghanaian youths to venture into agri-related business. The loan when approved will affect about 500,000 farmers, it will also help to increase food…

CONSTRUCTION OF US$751.2m KENYA TANZANIA HIGHWAY BEGINS IN 2018

Posted on November 10, 2017 by Gambeta News

AfDB says construction of Kenya-Tanzania highway is set to begin by 2018 According to Lawson Zankli, AfDB Chief Regional Program Officer, although the African Development Bank (AfDB) is currently looking for financial partners who will be able to invest US$385.2m for the construction of the highway that will connect Kenya to Tanzania, it has said that construction work on the US$751.3m Kenya-Tanzania Highway is set to begin in 2018, as it has already set aside US$289m for the…

KENYA POWER SIGNS CONTRACT FOR LAST MILE CONNECTIVITY PROJECT

Posted on November 10, 2017 by Gambeta News

Second phase of Kenya’s Last Mile Connectivity Project (LMCP) begins. Kenya’s utility company, Kenya Power, have signed 23 contracts for the implementation of the government initiative termed Last Mile Connectivity Project (LMCP), which aims to connect the entire country to the national electricity grid. The project which is already in its second phase, is funded jointly by the African Development Bank (AfDB) and the World Bank. With AfDB providing 87% of the funds while World Bank…

« 1 2 3 »