Project Finance |

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

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

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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

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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…

AfDB invests $20 million in Sudan’s water and sanitation project

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SUDAN (Capital Markets in Africa) – In collaboration with the UK Department of International Development (DfID), the African Development Bank (AfDB) concluded a project identification mission to Port Sudan on December 13, 2016. The mission sought to hold discussions with authorities and stakeholders on the possibility for the AfDB to finance the Port Sudan Priority Water and Sanitation (PSPWS) project as part of its joint efforts with DfID to address Port Sudan’s short-, medium- and…

AfDB and Japan sign bilateral agreement for loan worth US$300 Mill …

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Abidjan, Cote d’Ivoire, Capital Markets in Africa — On September 8, 2015, the African Development Bank (AfDB) and the Government of Japan signed the sixth private sector assistance loan under the joint initiative titled Enhanced Private Sector Assistance (EPSA) for Africa. The loan, worth JPY 35.88 billion, equivalent to USD 300 million, is intended to support private sector operations in Africa. To mark this agreement a signing ceremony was held at AfDB headquarters in Abidjan, Côte…

Africa Finance Corporation receives US$50 million from the Islamic Development Bank for project financing

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LAGOS, Nigeria (Capital Markets in Africa) — Africa Finance Corporation (AFC) is pleased to announce its acceptance of a US$50 million 15 year line of financing, with a 13 year six month repayment period, from the Islamic Development Bank (IDB). The funds will be used to finance projects located across the numerous African IDB member countries. The projects will be structured in a way that is compliant with Islamic Finance, focusing particularly on infrastructural and agricultural…

IDB Raises Sukuk Issuance Programme Ceiling from US$10 Billion to US$25 Billion

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MAPUTO, Mozambique (Capital Markets in Africa) — The Board of Executive Directors (BOED) of the Islamic Development Bank at its 305th session which began on Sunday, 7/6/2015, in Maputo, capital of the Republic of Mozambique, under the chairmanship of H.E. Dr Ahmad Mohamed Ali, chairman of the Islamic Development Bank Group, approved the raising of the current limit of the Bank’s medium term sukuk issuance programme from US$10 billion to US$ 25 billion. On this…

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