Source: African Development Bank Group (AfDB) |

Egypt’s largest solar plant, Kom Ombo, receives US$ 114 million financing package

The package comprises loans of up to US$ 36 million from the EBRD, US$ 18 million from the OPEC Fund, US$ 17.8 million from the AfDB, US$ 23.8 million from the GCF and US$ 18 million from Arab Bank

The European Bank for Reconstruction and Development (EBRD) (www.EBRD.com), the OPEC Fund for International Development (the OPEC Fund) (www.OPECFund.org), the African Development Bank (AfDB) (www.AfDB.org), the Green Climate Fund (GCF) (www.GreenClimate.fund) and Arab Bank today signed a US$ 114 million financing package with ACWA Power for the construction of the largest…

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

CORRECTION: African presidents and global leaders support bold action on climate change adaptation for Africa

Africa now faces the dual onslaught of climate change – currently estimated at between $7 billion and $15 billion each year – and Covid-19, which has claimed 114,000 lives

In a historic and united show of solidarity for a continent that contributes only 5% to global emissions, more than 30 heads of state and global leaders committed to prioritize actions that help African countries adapt to the impacts of climate change and “build forward better.” Africa now faces the…

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Source: African Development Bank Group (AfDB) |

African presidents and global leaders support bold action on climate change adaptation for Africa

Africa now faces the dual onslaught of climate change – currently estimated at between $7 billion and $15 billion each year – and Covid-19, which has claimed 114,000 lives

In a historic and united show of solidarity for a continent that contributes only 5% to global emissions, more than 30 heads of state and global leaders committed to prioritize actions that help African countries adapt to the impacts of climate change and “build forward better.” Africa now faces the…

Source: African Development Bank Group (AfDB) |

Women-led Kenyan design house wins Fashionomics Africa sustainable design competition for turning fruit waste into eco-friendly footwear

Pine Kazi, which converts pineapple leaf and recycled rubber into fashionable footwear, won the $2,000 Fashionomics Africa competition cash prize

The African Development Bank’s (www.AfDB.org) Fashionomics Africa initiative has named a women-led Kenya shoe design house as the winner of its competition to support producers of sustainable fashion. Pine Kazi, which converts pineapple leaf and recycled rubber into fashionable footwear, won the $2,000 Fashionomics Africa competition cash prize. In addition,…

Source: African Development Bank Group (AfDB) |

Green banks and national climate funds have a key role in mobilizing funds for low-carbon, climate-resilient development in Africa: report

The ground-breaking study, released on Tuesday 23 March, is expected to underpin development of a multi-country climate finance initiative in Africa

The African Development Bank and the Climate Investment Funds [CIF (https://bit.ly/3vSPNtq)] have joined forces (https://bit.ly/2OQ4QU9) to produce a study of the role of green banks and national climate change funds in mobilizing finance to support low-carbon, climate-resilient development in Africa. The ground-breaking study (https://bit.ly/2OY4mv7), released on Tuesday 23 March, is…

Source: African Development Bank Group (AfDB) |

Canada and African Development Bank sign CAD 133 million gender lens Climate Fund for Africa

The Bank has committed to providing $25 billion in climate financing by 2025

The Government of Canada and the African Development Bank have signed an agreement formalizing the Canada–African Development Bank Climate Fund (CACF), a transformative special fund aimed at providing concessional loans to climate change-related projects with a strong gender-responsive component. The fund will be capitalized through a combination of a CAD…

Source: African Development Bank Group (AfDB) |

Angola: African Development Bank funds $530 million electricity project to expand renewable energy and regional connectivity

The project, once operational in 2023, will avert the consumption of 46.8 billion litres of diesel per year in the south, cutting 80 megatons of CO2 emissions

The African Development Bank (www.AfDB.org) has committed $530 million to finance the construction of a 343 km, 400 kV central-south transmission line that will connect the north and south transmission grids in Angola and allow for the distribution of clean energy between the two regions. The north of Angola has…

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

Mozambique: African Development Bank purchases temporary bridges to replace infrastructure destroyed in cyclones

The bridges are funded under the Post Cyclone Idai and Kenneth Emergency Recovery and Resilience Program

The African Development Bank (www.AfDB.org) has finalized the purchase of 26 modular steel bridges to replace infrastructure that was destroyed in weather disasters in Mozambique. The modular bridges are due to be installed in coming months after the appointment of local contractors. The goal is to restore transport connections to…

Source: African Development Bank Group (AfDB) |

Egypt: the African Development Bank approves a loan of over $27 million to establish Kom Ombo solar power plant

The project is expected to lower electricity costs for businesses and residences, as well as reducing greenhouse gas emissions and creating construction and other jobs

The African Development Bank’s Board of Directors (www.AfDB.org) today approved $27.2 million in loan financing for the design, construction and operation of a 200 MW photovoltaic solar power plant at Kom Ombo, in Upper Egypt on the river Nile. The project is expected to lower electricity costs for businesses and…

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

Africa’s first Super Energy Service Company in Morocco gets $965,000 grant boost from African Development Bank’s Sustainable Energy Fund for Africa (SEFA)

Amid growing demand, Morocco aims to meet its energy needs by combining large-scale energy efficiency strategies and renewable energy investments

The African Development Bank’s Sustainable Energy Fund for Africa (SEFA) (https://bit.ly/37jYAtS) is providing a $965,000 grant to Morocco’s Société d’Ingénierie Energétique (SIE), to support its transition into the first Super Energy Service Company (ESCO) initiative in Africa. ​“This support from the African Development Bank will enable the operationalization of the…