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 … Read More
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 … Read More
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 … Read More
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
… Read More
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 … Read More
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 … Read More
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 … Read More
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 … Read More
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 … Read More
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