Source: African Development Bank Group (AfDB) |

Seychelles: African Development Bank Supports Blue Economy with $800k Fund for African Private Sector Assistance (FAPA) grant

The country’s Blue Economy Strategic Policy and Road map prioritizes the development of new and emerging maritime sectors

The African Development Bank (www.AfDB.org) has signed an $800,000 grant agreement with the government of Seychelles to support micro, small and medium enterprises (MSMEs) in its Blue Economy sector.  The package will help Seychelles develop its marine biotechnology sector, strengthen the capacity of public institutions and private operators, create a…

Source: African Development Bank Group (AfDB) |

African Development Bank to provide underserved communities in Nigeria with sustainable energy solutions

The project, which will be implemented by Nigeria’s Rural Electrification Agency, is a boost to efforts to achieve the target of universal energy access by 2030

The African Development Bank (www.AfDB.org) and the Government of Nigeria have launched the National Electrification Project (NEP), to address critical energy access deficits by channeling private sector investments into mini grid and off-grid solutions. The project, which will be implemented by Nigeria’s Rural Electrification Agency, is a boost to efforts…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

EAC hosts the 30th New Partnership for Africa’s Development Infrastructure Project Preparation Facility (NEPAD-IPPF) Oversight Committee in Arusha

The meeting which took place on the 13th and 14th of February 2020, convened over 30 participants

The New Partnership for Africa’s Development Infrastructure Project Preparation Facility (NEPAD-IPPF) held its 30th Oversight Committee meeting for the Special Fund at the headquarters of the East African Community, in Arusha, Tanzania. The meeting which took place on the 13th and 14th of February 2020, convened over 30 participants, including…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

African Development Fund approves close to $35 million to the Government of Liberia for renewable energy

The ceremony was attended by officials from government, the Rural Renewable Energy Agency (RREA), the National Investment Commission (NIC), development partners and other stakeholders

The African Development Fund has approved a $34.74 million grant and loan to boost renewable energy access and promote an attractive investment climate in Liberia. At a signing ceremony on 29 January in Monrovia, Dr. Orison Amu, the African Development Bank’s (AfDB.org) Country Manager in Liberia, and Samuel Tweah Jr.,…

Source: African Development Bank Group (AfDB) |

Egypt: African Development Bank approves $22 million to expand leasing financing to corporates and SMEs

The decision signaled confidence in a burgeoning local market and in the Egyptian economy as a whole

The Board of the African Development Bank (www.AfDB.org) on Wednesday approved a $22 million Senior Loan to help Egypt’s Corporate Leasing Company (Corplease) expand its operations in the North African country. The decision signaled confidence in a burgeoning local market and in the Egyptian economy as a whole. The Bank…

Source: African Development Bank Group (AfDB) |

Keynote Speech delivered by Dr. Akinwumi A. Adesina at the UK-Africa Investment Summit, “Sustainable Infrastructure Forum”

The Department for International Development (DFID) is a key strategic partner of the African Development Bank

By Dr. Akinwumi A. Adesina Good morning everyone! It’s a pleasure to join you at this special side event organized as part of the UK-Africa Investment Summit. Let me congratulate the organizers, the Department for International Development (DFID) and Her Majesty’s Trade Commissioner for Africa for hosting us today. The…

Source: African Development Bank Group (AfDB) |

British Prime Minister, African Leaders urge Investors to accelerate Economic Role on the Continent

The UK-Africa Investment Summit, the first of its kind hosted by the UK Government, was attended by the foreign secretary, Dominic Raab, the international development secretary, Alok Sharma, and Prince Harry

UK companies must leap at the chance to deepen economic ties with Africa, a continent with unmatched investment opportunities, several African leaders said at a high-level panel. At an oversubscribed opening ceremony for the 2020 UK-Africa Investment Summit, Monday, attended by dignitaries and delegates from 16 African countries, including President…

Source: African Development Bank Group (AfDB) |

African Development Bank approves €8 million technical assistance grant to support preparation of Ruzizi IV Hydro Power Project in the Great Lakes region

The project will provide electricity to millions of households, as well as small and medium-sized enterprises and industries, thereby improving the living conditions of the regional population

The Board of Directors of African Development Bank Group (https://www.AfDB.org) has approved an €8 million grant drawn from the European Union’s Africa Investment Platform (EU-AIP) to support the preparation of the Ruzizi IV Hydropower Project. The plant will be situated on the Ruzizi River between Rwanda and the Democratic Republic…

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) |

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…