Loan Archives - Gambeta News

KENYA SECURE US$746.8MILLION FOR ISIOLO-MANDERA ROAD UPGRADE

Posted on September 10, 2020 by Gambeta News

Kenya Government has secure a loan worth US$746.8m(Sh81billion) from the World Bank for the upgrading of Isiolo-Mandera road. The 750-kilometre Isiolo-Mandera road is aimed at improving the movement of people and goods, digital connectivity and access to social services for over 3.2 million people living in the North-Eastern region where the Isiolo-Mandera Regional Road Corridor traverses. Speaking to the media, Kenya’s World Bank Country Director Keith Hansen said “The World Bank will finance the upgrading…

AFDB SIGN LOAN DEAL WITH SOUTH AFRICA TO BOOST TRANSPORT SYSTEM

Posted on April 29, 2020April 29, 2020 by Gambeta News

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…

KENYA REQUEST US$750M FROM WORLD BANK FOR DEVELOPMENT

Posted on May 28, 2019 by Gambeta News

Kenya Government request US$750million from World Bank for infrastructural developments Kenya Government has ask for fund from the world bank for development of different infrastructure. The fund will be use to provide affordable housing, agriculture and other projects. The request is worth US$750million. The request is the first time in more than a decade that Kenya has ask for loan from the bank. According to the project document on the bank’s website, the loan will…

NIGERIA GOVT. REQUEST FRESH LOAN FROM CHINA EXIM BANK

Posted on May 24, 2019 by Gambeta News

Chibuike Rotimi Amaechi say nigeria to request fresh loan form china exim bank Nigeria has requested a loan from China Exim Bank for the construction of a coastal line. The fund which is worth US$ 1.8billion will help the completion of the project according to Minister of Transportation. The actual cost of the project is US$ 2billion while Nigeria is to pay US$ 500 million as counterpart fund. According to Minister Chibuike Rotimi Amaechi, the…

FRANCE TO SUPPORT ACCESS TO WATER AND SANITATION IN UGANDA

Posted on March 6, 2019 by Gambeta News

French Development Agency (AFD) supports access to water and sanitation in Uganda with €270 million The Ugandan government and the French government via French Development Agency (AFD); have signed a loan deal to help support access to water and sanitation in Uganda. The loan deal comprises of two separate financing agreements for two projects amounting to 270 million euros (1.2 trillion Shillings). The first agreement of 150 million euros; will be for providing supply networks and also increasing the volume…

STERLING BANK SIGNS US$65 billion LOAN DEAL WITH BADEA

Posted on February 21, 2019 by Gambeta News

Sterling Bank and The Arab Bank for Economic Development in Africa (BADEA) signs US$65 billion deal Nigerian Bank, Sterling Bank have signed a deal to receive a US$65 billion loan facility from The Arab Bank for Economic Development in Africa (BADEA). According to Sterling Bank’s Executive Director, Corporate & Investment Banking Mr. Yemi Odubiyi, the US$65 billion loan will come in two batches, US$15bn and US$50bn. Firstly, the US$15bn will be for financing private sector projects through on-lending to customers; while…

AFRICA FINANCE CORPORATION SECURES US$300m FROM EXPORT-IMPORT BANK OF CHINA

Posted on October 12, 2018October 12, 2018 by Gambeta News

AFC acquires US$300m loan facility from CEXIM Leading infrastructure development finance institution in Africa, Africa Finance Corporation (AFC) successfully acquired a US$300 million loan from Export-Import Bank of China (CEXIM). Making up the loan is a US$200 million 5-year loan and also a US$100 million 5-year stand-by facility. The loan facility is for general corporate purposes. The CEXIM loan facility is AFC’s first financing facility from the Chinese government. The Africa Finance Corporation is currently focusing…

TUNISIA RECEIVES US$245m AS PORTION OF IMF LOAN

Posted on October 1, 2018 by Gambeta News

Tunisia gets US$245 million loan installment from IMF According to reports, the International Monetary Fund (IMF) have approved a loan installmental payment of US$245m to Tunisia. This approved sum is the fifth payment under the loan programme between IMF and the North African country. The IMF loan programme will aid Tunisia control its deficit through economic reforms. It will also unlock the route for the country to sell US$1 billion worth of bonds this month…

MOZAMBIQUE SECURE LOAN FOR MOATIZE-MACUSE RAILWAY CONSTRUCTION

Posted on July 27, 2018 by Gambeta News

Mozambique secures loan for its moatize-macuse railway project which will also help the nation coal production sector. Mozambique has secure a loan worth US2.7Billion from china for the construction of a 639 km-railway. Meanwhile it will transport coal from the mines of Moatize and Chitima in Tete. It will also transport new floating coal terminal off the coast at Macuse, Zambezia, just north of Quelimane. The project will be launch in 2019 with completion date set for 2022….

NIGERIA GETS US$2.1bn LOAN FROM WORLD BANK

Posted on July 2, 2018 by Gambeta News

World Bank outlines US$2.1 billion concessionary loan for Key projects in Nigeria. The World Bank have approved a US$2.1bn project support loan for Nigeria. The loan is for the support of seven(7) key projects in the country. The projects includes nutrition, access to electricity, fiscal transparency of states, eradication of polio, and also women economic empowerment. It also includes public finance and national statistics and reduction of soil vulnerability to erosion. The World Bank have…

MAURITIUS AGREES TO CONSTRUCT AND EQUIP FLACQ HOSPITAL

Posted on June 28, 2018 by Gambeta News

Mauritius to construct and equip first teaching hospital – Flacq Teaching Hospital. The republic of Mauritius have entered a loan agreement with Kuwait Fund for Arab Economic Development. The agreement is for the financing of the construction and equipping of the first phase of Flacq Teaching Hospital project. The project is to support the health sector development and to meet the demand for modern medical services. It is also for improvement of the quality of hospital and…

MALAWI GETS US$112.3m IMF LOAN

Posted on May 3, 2018 by Gambeta News

Malawi secures US$112.3m credit facility from IMF. The International Monetary Fund (IMF) and the Government of Malawi have sign a three(3) year US$112.3m loan agreement. This credit facility is to assist Malawi’s economic and financial reforms. It is also for establishing macroeconomic stability, spur growth and reduce poverty. With this deal there will be an immediate disbursement of US$16m while the remaining amount will be in phases over the duration of the agreement. After two(2)…

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…

LAGOS STATE AND OTHERS URGE CBN TO REDUCE INTEREST RATES

Posted on December 12, 2017 by Gambeta News

Governor Ambode and others call on CBN to reduce lending rate to five(5) percent. While speaking at the 9th annual bankers committee retreat held in Lagos, Lagos state Governor Akinwumi Ambode called on the Central Bank of Nigeria (CBN) to consider reducing the interest rate for the N220 billion Micro Small and Medium Enterprises (MSMEs) intervention loan to 5 percent. This reduction he said will encourage more off take as the CBN Governor, Godwin Emefiele had earlier on expressed disappointment…

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…

NIGERIAN SENATE INVESTIGATES ETISALAT US$1.2bn DEBT

Posted on October 25, 2017 by Gambeta News

Etisalat Nigeria, now referred to as 9 Mobile, took loan from 13 banks amounting to US$1.2bn, but failed to make repayments. The Nigerian senate in a bid to intervene in the debt crisis have directed its Committees on Banking, Communications, Capital Market and National Security to investigate the management and utilization of the loan facility. The motion which was led by Senator Adeola Olamilakan (Lagos West-APC), who hinted that the the seven-year corporate loan was acquired in 2013…

WAEMU SECURE HOUSING LOAN FROM WORLD BANK

Posted on October 20, 2017 by Gambeta News

World bank give loan of US $155m to WAEMU for its housing development. West Africa economic and monetary union (WAEMU) has gotten an assistance from the world bank to help improve its housing. The west Africa regions include Benin, Burkina, Cote d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo is expected to have the housing shortage increase to a reasonable amount. World Bank Country Director for West Africa Regional Operations, Rachid Benmessaoud; ”That one dollar of IDA will…

UNION BANK TO IMPROVE AGRIBUSINESS LENDING IN NIGERIA

Posted on September 21, 2017 by Gambeta News

Union Bank Plc, one of Nigeria’s oldest banks, was established in 1917 has officially opened a N50 billion rights issue to the public which it hopes to deploy into raising its capitalization and growing agribusiness loans. The bank, had gotten approval from the Securities and Exchange Commission (SEC) to sell 12.1 billion ordinary shares at N4.01 per share at the rate of 5 new shares for every 7 held. The Issuing Houses involved in the transaction are…