AFDB | - Part 5

AfDB approves US $22.5-million to improve investment climate and forest governance in Congo

Abidjan, Cote d’Ivoire (Capital Markets in Africa) — The Board of Directors of the African Development Bank Group (AfDB) on Wednesday, July 1, 2015 approved a US $22.5-million loan to the Republic of Congo to help finance the country’s Investment Climate and Forest Governance Support Project (PACIGOF). The project aims to promote robust and inclusive growth by improving the business climate and diversifying the Congolese economy. It will strengthen the capacity of private sector support…

AfDB approves €50.20 million loan for Egypt National Drainage to boost agriculture

Posted on by The Editorial Team

Cairo, Egypt (Capital Markets in Africa) — The African Development Bank (AfDB) will support Egypt’s National Drainage programme (NDP) to boost agricultural production and household income generation with a €50.20 million loan approved by AfDB Board on Wednesday, May 17 in Abidjan. The programme aims to optimize the benefits of irrigation by draining excess irrigation water from agricultural land in order to reduce water logging and soil salinity as well as make more land available…

AfDB provides US $22 million to fund Mahe Sustainable Water Augmentation Project in Seychelles

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Victoria, Seychelles (Capital Market in Africa) — The Government of the Republic of Seychelles has received a loan worth US $ 20.6 million, in addition to a US $1.668 million grant, from the African Development Bank (AfDB) to finance part of the Mahe Sustainable Water Augmentation Project. The accords were signed on May 27, on the sidelines of the AfDB’s 50th Annual Meetings held in Abidjan, Côte d’Ivoire. Signing the AfDB loan and the grant…

AfDB with GEF support continues to strengthen resilience to climate change in Africa

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Lagos, Nigeria (Capital Markets in Africa) — The Global Environmental Facility (GEF) approved USD 35 million in funding to improve climate resilience to be channeled through the African Development Bank for programs in Côte d’Ivoire, Chad, Zambia, in addition to one which spans several countries. The announcement was made at the recent 48th session of the GEF Council Meeting during which the largest GEF work program in its 23 years of history – USD 709…

Egypt, AfDB sign two loans and a grant for Sharm el-Sheikh airport development

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Abidjan, Cote D’Ivoire (Capital Markets in Africa):- The African Development Bank (AfDB) and Egypt, on May 29 in Abidjan, signed two loans and a letter of agreement. The two loans are worth US $140 million – US $90 million from the AfDB window and US $50 million loan from the Africa Growing Together Fund (AGTF). The letter of agreement concerned a grant from the Middle Income Countries (MICs) Technical Assistance Fund of UA 1.2 million…

Africa-India partnership: an opportunity for project financing in Africa

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Abidjan, Cote d’ Ivoire (Capital Markets in Africa):- Africa-India Partnership Day was one of the major events of the 2015 African Development Bank Annual Meetings. Jointly organized on May 27 in Abidjan by the AfDB’s Private Sector Department and the Export-Import Bank of India, it brought together financiers, sponsors, contractors, researchers and other key actors of Africa and India’s private sector for networking and identifying business opportunities mutually beneficial for the continent and India. The…

AfDB Report says Structural change needed to spur innovation in Africa

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Abidjan, Cote D’Ivoire (Capital Markets in Africa):- To make economic growth self-sustaining, African countries must urgently make deep structural changes to propel innovation, notably boosting public investment and strengthening social services. Innovation is needed to create jobs and offer livelihood opportunities to lift the majority of Africans out of poverty, according to the African Development Bank’s 5th Annual Development Effectiveness Review (ADER) released Wednesday in Abidjan. This year’s ADER has innovation as its theme. “While Africa today…

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