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
… Read More
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 … Read More
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 … Read More
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 … Read More
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 … Read More
Italian government issues €1 million euros for Somalia infrastructure development.
Somalia government is set to receive funds which will help grow the country Infrastructure. This is after Italian government signed a deal with African Development Bank (AfDB) Multi-Partner Somalia Infrastructure Fund. The fund is worth €1 million euros.
Somalia is … Read More
President John Magufuli unhappy with loans condition but assures that they can repay the money.
President John Magufuli is unhappy with the loan condition set by some multilateral financing agencies. According to him Tanzania has the resource to pay, but that the loan is getting to much.
The President made … Read More
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 … Read More
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 … Read More
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. … Read More
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.… Read More
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 … Read More
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 … Read More
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 … Read More
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 … Read More
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 … Read More
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 … Read More
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 … Read More
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 … Read More
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 … Read More