Source: African Development Bank Group (AfDB) |

African Development Bank signs five-year agreement to use International Federation of Consulting Engineer (FIDIC) standard contracts

Under the terms of the agreement, FIDIC has granted the Bank a non-exclusive licence to refer to the seven major FIDIC contracts

The International Federation of Consulting Engineers (FIDIC) (FIDIC.org) has secured a major agreement with the African Development Bank (AfDB.org) that will see the international funding organisation include the use of seven FIDIC standard contracts for the next five years. Under the terms of the agreement, FIDIC has granted the Bank…

Source: African Development Bank Group (AfDB) |

African Development Bank sponsored Off-Grid Energy Access Fund reaches final equity close with partner contributions

The African Development Bank is the fund’s anchor sponsor with a $30 million contribution, and $8.5 million from the Global Environment Facility (GEF)

The Facility for Energy Inclusion’s Off-Grid Energy Access Fund (FEI OGEF) has reached a final equity close with $59 million in committed equity capital and $36 million debt facilities, to support innovative, off-grid energy access companies. The final close, reached on 18 November 2019, was made possible through a $15…

Source: African Development Bank Group (AfDB) |

Tanzania: African Development Bank’s $55 million facility to jumpstart private sector-led economic growth

Support from the Bank’s African Development Fund will bolster ongoing reforms being undertaken by the government of Tanzania

The African Development Bank (AfDB.org) has approved a $55 million facility to strengthen implementation of reforms to enhance Tanzania’s economic competitiveness and private sector participation in the country’s growth. These critical reforms will lead to a more vibrant economy, which will improve the living conditions of Tanzanians, particularly the poor…

Source: African Development Bank Group (AfDB) |

The Economic Community of West African States (ECOWAS) endorses Adesina for second term as President of the African Development Bank

Adesina is a renowned development economist and the first Nigerian to serve as President of the Bank Group

The Economic Community of West African States (ECOWAS) has endorsed the candidacy of African Development Bank (https://www.AfDB.org/) President Akinwumi Adesina for a second term at the helm of the institution. The decision was announced at the end of the fifty-sixth ordinary session of the Authority of Heads of State and…

Source: African Development Bank Group (AfDB) |

‘Let West Africa’s success echo throughout the world.’ Economic Community of West African States (ECOWAS) hails the success of African Development Bank investments in the region

The region’s economy is showing positive achievements, reaching 3.3 percent growth in 2019

The African Development Bank’s investments in West Africa are yielding remarkable results, the President of the Economic Community of West African States (ECOWAS), Jean-Claude Kassi Brou, said in Abuja on Saturday. He was speaking at the bloc’s fifty-sixth ordinary session, attended by regional heads of state and government. Brou said…

Source: African Development Bank Group (AfDB) |

Sudan: African Development Bank approves $21.783 million grant for roll out of solar-powered irrigation

The project meets the Sudanese government’s renewable energy and poverty reduction objectives as well as the Bank’s High Five and Energy Sector Policy

The African Development Bank’s Board of Directors (AfDB.org) has approved a grant to the government of Sudan to accelerate the adoption of solar-powered irrigation pumps in the country’s West Kordofan and North Kordofan states. The project will enable farmers’ adoption of renewable energy technology through the installation of 1,170 photovoltaic…

Source: African Development Bank Group (AfDB) |

Sudan: African Development Bank approves $60 million loan to support Elnefeidi Group’s agricultural expansion

The loan is expected to contribute significantly to food security, food import substitution, and household incomes by creating jobs and increasing local productivity and distribution

The African Development Bank’s (www.AfDB.org) Board of Directors has approved a $60m loan to Elnefeidi Group Holding Company to help finance its long-term agriculture and food expansion programme. The planned expansion includes increasing agricultural productivity, enhancing related infrastructure, food processing and distribution. It will directly contribute in developing Sudan’s livestock…

Source: African Development Bank Group (AfDB) |

Multilateral Development Banks Pledge to Step Up Support for Forcibly Displaced Populations at Global Refugee Forum

More than 70 million people are forcibly displaced globally, with African countries hosting about 8 million refugees and 16 million Internally Displaced Persons (IDPs)

Multilateral Development Banks (MDBs) are stepping up their support for refugees and people affected by forced displacement, including hosting communities, across a wide range of sectors and policy instruments. The pledges were made by the African Development Bank (https://www.AfDB.org/), the Asian Development Bank, the European Bank for Reconstruction and Development,…

Source: African Development Bank Group (AfDB) |

Burundi: African Development Bank’s Sustainable Energy Fund for Africa (SEFA) grants $1 million to support innovative solar-hydro hybrid project

The innovative hybrid design is anticipated to regularize the power output during dry and wet season and mitigate power shortfalls caused by climate change

The African Development Bank-managed Sustainable Energy Fund for Africa (SEFA) (https://bit.ly/2tk3Zjd) has approved a $990,000 grant to support the preparation of a 9-MW solar-hydro hybrid project in Burundi (https://bit.ly/2EnEK1M). The project consists of two plants, each featuring a solar and a hydro component as well as a local distribution network…

Source: African Development Bank Group (AfDB) |

Egypt: African Development Bank board approves €109 million to transform sewage coverage in Upper Egypt rural areas

The initiative is in line with the Bank’s water sector policy, which promotes efficient, equitable and sustainable development through integrated water resources management

The Board of Directors of the African Development Bank (https://www.AfDB.org/) has approved a €109 million facility for the development of sewage disposal and wastewater treatment plants for rural areas in Luxor Governorate in Egypt’s Upper Nile region. The Integrated Rural Sanitation in Upper Egypt – Luxor (IRSUE-Luxor) project is set…