Search Results for: african development bank

HIGHLIGHTS OF THE ACHIEVEMENTS OF THE AFRICAN DEVELOPMENT BANK SINCE 2015

Posted on by Gambeta News

Adesina’s first term focused on the bold new agenda for the Bank Group based on five development priorities known as the High 5s: Light up and Power Africa; Feed Africa; Industrialize Africa; Integrate Africa; and Improve the Quality of Life for the People of Africa.  During Adesina’s first term, the Bank achieved impactful results on the lives of 335 million Africans, including: 18 million people with access to electricity; 141 million people benefiting from improved…

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ADB SIGN €100MILLION DEAL TO HELP AFRICAN ECONOMIES

Posted on by Gambeta News

The African Development Bank (ADB) and the European subsidiary of Attijariwafa – Attijariwafa Bank Europe – signed a €100 million risk-sharing agreement on Thursday, aiming to enhance the competitiveness of African economies. Risk-sharing agreements will incentivize the Attijariwafa Bank Group to issue more loans for clients that are usually considered subprime, as the ADB has agreed to step in to mitigate the financial loss caused by these customers defaulting on loan payments. The signing ceremony…

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AfDB PRESIDENT CONCLUDE TWO DAYS VISIT FOR DR CONGO DEVELOPMENT PROJECTS

Posted on by Gambeta News

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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CENTRAL AFRICAN REPUBLIC SIGNED CONSTRUCTION OF NEW AIRPORT DEAL WITH BRICS ALLIANCE

Posted on by Gambeta News

The Central African Republic (CAR) government has signed a framework agreement with the BRICS alliance for the construction of a new international airport in the country.  The memorandum of understanding (MoU) was signed on 18 January during a working visit by a BRICS delegation to CAR, according to a government social media post on 19 January. The Facebook post further states that the UAE will provide US$200 million in funding for the project, which will…

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TOGO GOVT. SET TO ADOPT MASTER PLAN FOR COASTAL DEVELOPMENT

Posted on by Gambeta News

Togo could soon adopt a master plan for the development of its coast (SDAL). The project was discussed last week, on Oct. 26, at the Council of Ministers. The SDAL, according to a statement relayed by the minister of maritime economy and coastal protection, Edem Kokou Tengue, will be based on scientific data and will emphasize an integrated ecosystem management approach. The plan should foster space rationalization and proper execution of development projects, “ to meet…

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UNESCO COMMENDS AFRICA’S PROGRESS TOWARDS SUSTAINABLE DEVELOPMENT GOALS, URGES ACCELERATED EFFORTS TO MEET 2030 TARGETS

Posted on by Gambeta News

15 September: Ahead of the UNESCO 9th Africa Engineering Week and 7th Africa Engineering Conference taking place at the CSIR Convention Centre, in Pretoria, from the 25th – 28th September,  Rovani Sigamoney, UNESCO Education Programme Specialist and a chemical engineer, outlined the progress made by the continent on the 17 Sustainable Development Goals (SDGs) Sub-Saharan Africa (SSA) with its one billion people, has seventy percent of young people (under 30 years) and a wealth of…

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WORLD BANK APPROVED US$300M FOR CONSTRUCTION OF SECOND HYDROELECTRIC DAM IN LIBERIA

Posted on by Gambeta News

The World Bank Group has pledged US$300 million to the Republic of Liberia for the construction of a second Hydroelectric Dam (SP-2) further up the St. Paul River in Lower Bong County. This project, when completed, will significantly increase Liberia’s hydropower generation capacity by an additional 150 megawatts. This hydro project will be the second of four dams to be constructed along the St Paul River. The World Bank announced the pledge at a donor…

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SA AND NIGERIA TO COLLABORATE ON INFRASTRUCTURAL DEVELOPMENT

Posted on by Gambeta News

Mr. Mseleku said that although both Nigeria and South Africa were learning from each other in implementing PPPs, there was a need for both nations to rekindle their collaboration and take it to a greater height. The South African Government has sought the collaboration of the Nigerian Government on mutually beneficial infrastructure development through Public Private Partnerships (PPPs). This is contained in a statement signed by Manji Yarling, Acting Head, Media and Publicity, Infrastructure Concession…

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AFREXIMBANK APPROVED US$280M FOR BOANKRA INTEGRTED LOGISTICS TERMINAL PROJECT

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The African Export-Import Bank (Afreximbank) has provided an amount of US$280 million to the Afum Quality Limited of Ghana, an infrastructure finance and investment firm, in support of the Boankra Integrated Logistics Terminal Project. The Ghana Shippers Authority is the client for the project, while the concessionaire is Ashanti Ports Services Limited, a joint venture of Afum Quality Limited of Ghana and DSS Associates of the Republic of Korea. The Port, located in the Ejisu…

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HOW REHABILITATION AND DEVELOPMENT OF NEW INFRASTRUCTURE CAN HELP RWANDA

Posted on by Gambeta News

The rehabilitation and development of new infrastructures in Rwanda provide an opportunity for the development, training, and employment of youths. It is a fact that economic growth and development cannot be achieved without the availability of appropriate economic and social infrastructures and the need to improve the quality of infrastructure services is therefore the cornerstone for future growth and the achievement of Vision 2050. In general, infrastructure is defined as electricity, gas, telecoms, transport and…

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LIBERIA SIGN DEAL WITH WORLD BANK FOR 60MW RENEWABLE ENERGY

Posted on by Gambeta News

Liberia has signed a financing agreement with the International Development Association for the production of an additional 60MW of renewable energy geared toward further solving the country’s energy crisis. The project is an initiative of the World Bank under the Regional Emergency Solar Power Intervention Project (RESPITE). It is a US$311 regional program supported by the World Bank to scale up electricity access to millions of existing and prospective consumers in Chad, Liberia, Sierra Leone,…

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AFRICAN ROAD: WHY OPENING THE ROAD IS IMPORTANT

Posted on by Gambeta News

Nigeria, Niger, Algeria, Mali, Mauritania, Tunisia, and Chad are now building one of Africa’s largest road projects called the “African Unity Road”, linking the seven countries over a length of more than 9,000 kilometers. Financed by the African Development Bank (AfDB), the project aims to improve South-South trade, as well as open up certain previously isolated Saharan areas. It is planned that the Trans-Saharan will cross Algeria over 3,400 km, Mali over 1,974 km, Niger…

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AFRICA: ENERGY TRANSITION POLICIES AND REGULATORY DEVELOPMENTS LIGHT UP ACROSS THE CONTINENT

Posted on by Gambeta News

Across the continent, countries in Africa are gearing up for the energy transition by implementing policy and legislative frameworks that take into account the energy crisis and the need for a renewable, decarbonized, decentralized energy supply that addresses climate change and the commitments made under the Paris Agreement. Ahead of the United Nations Climate Change Conference, COP 27, in Egypt in November this year, lawyers in Egypt, Ghana, Kenya, Morocco, Namibia, Nigeria, South Africa, Tanzania…

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ZIMBABWE NEEDS U.S.$40B FOR INFRASTRUCTURAL DEVELOPMENT ACCORDING TO FINANCE MINISTER

Posted on by Gambeta News

The Ministry of Finance says the country’s infrastructure and utility development funding was constrained, prompting the government to engage the pan-African infrastructure investment platform, Africa50, for assistance on innovative financing options. Addressing a press conference, Deputy Finance Minister, Clemence Chiduwa, said the country’s current financial requirements for infrastructure development were around US$40 billion. He was speaking after a meeting with Tshepidi Moremong, Chief Operating Officer for Africa50. “Our funding requirements for infrastructure covering all the…

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KIGALI MASTER PLAN DEVELOPMENT GETS BRITISH DESIGNING FIRM

Posted on by Gambeta News

Feilden Clegg Bradley Studios (FCBStudios), a British architectural design firm, has been selected to develop the green city Kigali master plan and detailed designs for the pilot phase. Established in 1978, with offices in Bath, London, Manchester, Belfast, and Edinburgh, the firm is known for its pioneering work in sustainable design and social design agenda. The selection was done in partnership with the Royal Institute of British Architects according to Rwanda Green Fund (FONERWA). The Kigali…

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ABIJAN-LAGOS HIGHWAY CONSTRUCTION TO BENEFIT ATLEAST 40MILLION WEST AFRICANS

Posted on by Gambeta News

When completed, the construction of the 1,028-kilometre Abidjan-Lagos highway would benefit at least 40 million West Africans, the Minister of Works and Housing, Mr. Babatunde Fashola (SAN), said at the weekend. The highway is estimated to cost $15.6 billion which is expected to have a significant impact on the economies of five regional countries, namely: Côte d’Ivoire, Ghana, Togo, Benin, and Nigeria, said, remained firmly on course. Speaking at the 16th inter-ministerial meeting of the…

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ADF APPROVED US$88.2M FOR LIBERIA AND SIERRA LEONE INFRASTRUCTURAL DEVELOPMENT

Posted on by Gambeta News

The Board of Directors of the African Development Fund, the concessional window of the African Development Bank Group has approved $88.2 million in financing for the third phase of the Road Development and Transport Facilitation Programme for the Mano River Union. The Mano River Union is an international association initially established between Liberia and Sierra Leone in 1973 under the Mano River Declaration.  The Mano River begins in the Guinea highlands and forms a border…

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AMAZON’S NEW AFRICAN HQ IS BEING CONSTRUCTED IN SOUTH AFRICA

Posted on by Gambeta News

The planned $284 million mixed-use development, housing Amazon’s new African HQ, is ongoing in South Africa. The River Club redevelopment in Observatory, Cape Town includes a hotel, residential units and retail offices. A large part of the development will consist of safe recreational public spaces including running and cycling pathways, public viewing areas and seating areas along the rehabilitated and clean riverbank. This will be a significant boost to the economy and people of Cape…

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WORLD BANK TO IMPROVE CONNECTIVITY AND DEVELOP DIGITAL ECONOMY IN TOGO

Posted on by Gambeta News

WASHINGTON, May 21, 2021– The World Bank has approved additional financing of $11 million from the International Development Association (IDA)* to improve connectivity in Togo and develop the country’s digital economy. The additional financing for the West Africa Regional Communications Infrastructure Program (WARCIP) will strengthen the contribution to major projects launched in Togo to expand geographical coverage of broadband networks and reduce the costs of communications services. It will also facilitate the construction of the…

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LOCALISATION IMPERATIVE – INFRASTRUCTURE SOLUTIONS FOR AFRICA BY AFRICANS – FIDIC AFRICA PRESIDENT ADVOCATES

Posted on by Gambeta News

18 May 2021 The importance of infrastructure development, premised on innovative African solutions supported by African engineers, was unpacked in the opening remarks of the first virtual 27th annual FIDIC Africa Infrastructure Conference that commenced on 18 May. The two-day online conference, themed “The role of a consulting engineer in a changing world – an African perspective’, brings together consulting engineers, financial institutions, and investment bodies, thought leaders, and government ministries from around Africa, to…

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