AFDB | - Part 2

Africa will develop on its own terms, not based on the benevolence of others, AFDB President

ABIDJAN (Capital Markets in Africa) – “Africa will develop on its own terms, not based on the benevolence of others. And that is the only way we can make development faster and driven by our own needs – with a deep sense of urgency and responsibility.” These were the words of African Development Bank Group President Akinwumi Adesina, who delivered the keynote address on Monday, March 27, 2017 in Abidjan, as part of a week-long…

AfDB says gives Comoros $20 mln for road network

Posted on by The Editorial Team

NAIROBI (Reuters) – The African Development Bank is giving Comoros a $20.4 million grant to help it improve and expand its road networks, a move that will boost its agriculture and tourism sectors. The islands have few natural resources and largely rely on exports such as cloves and vanilla, remittances from citizens working abroad and foreign aid to finance development projects. AfDB said the money will be disbursed over five years. “The project will focus…

Uganda gets $151 mln loan from African Development Bank for toll road

Posted on by The Editorial Team

KAMPALA (Capital Markets in Africa) – Uganda will expand a major road linking its capital Kampala with Rwanda after signing a deal on Thursday for a $151 million loan from the African Development Bank (AfDB). The 40-year loan will partly finance a new 23 km, 4-lane toll road to help de-congest traffic on an existing road, the finance ministry and AfDB said, adding the government would fund the remainder of the $192 million project. In recent…

AfDB signs US$ 500 million, 2nd tranche of budget support loan for Egypt

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – The African Development Bank, on 19th December 2016, signed a loan of US$ 500 million to finance the Egypt Economic Governance and Energy Support Program Phase II. The loan, which was approved by the Bank’s Board of Executive Directors on 13th December 2016, is the second tranche of a three-year, US$ 1.5 billion programmatic series, covering the fiscal years 2015/16 to 2017/18 (July-June). It builds on the first phase of the…

AfDB Group approves €769.78 million for urban transport in Ivory Coast

Posted on by The Editorial Team

ABIDJAN (Capital Markets in Africa) – The Board of Directors of the African Development Bank Group (AfDB) has approved a loan of 769.78 million euros to Côte d’Ivoire aimed at significantly improving urban transport in the city of Abidjan. This financing will contribute to improving the living conditions of the people living in Abidjan through the development and rehabilitation of road infrastructures. More specifically, the project involves the development of 87.9 km of fast urban…

AfDB approves Africa Renewable Energy Initiative

Posted on by The Editorial Team

ABIDJAN (Capital Markets in Africa) – The Boards of Directors of the African Development Bank (AfDB) have endorsed the proposal by the Bank’s Management to serve as Trustee to administer and manage the resources of Africa Renewable Energy Initiative (AREI), and also to host the AREI Independent Delivery Unit as requested by African Heads of State and Government. The AREI is an Africa-owned and Africa-led initiative of the African Union. It aims at harnessing Africa’s…

Africa50 to Develop Solar Power in Nigeria

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Africa50, the infrastructure fund for Africa, has signed a joint development agreement (JDA) for an 80 MW (AC) solar photovoltaic independent power project in Nigeria. The project, near Dutse in Jigawa state, will be co-developed with Scatec Solar, a Norwegian integrated independent solar power producer, and Norfund, the Norwegian Investment Fund for Developing Countries. The project includes the construction of a dedicated 132 kV overhead transmission line that will…

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