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African Development Bank Group (AfDB)
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…

African Development Bank Group (AfDB)
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…

African Development Bank Group (AfDB)
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…

African Development Bank Group (AfDB)
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…

African Development Bank Group (AfDB)
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…

African Development Bank Group (AfDB)
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…

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

Madagascar: African Development Bank Approves Guarantee of $100 Million to Hydro-Power Project, to Benefit Over 2 Million People

Upon completion, the project will generate 1,570 GWh of renewable power annually

The Board of Directors of the African Development Bank (https://www.AfDB.org/) has approved a Partial Risk Guarantee (PRG) of $100 million to support the Sahofika hydro-power project in Madagascar, which will add 205 MW of renewable energy generation capacity to the national grid, benefitting over 2 million people. The Bank’s support…

African Development Bank Group (AfDB)
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…

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

Nigeria: African Development Bank approves $124.2 million loan for water sector reforms in Akure to improve access to safe drinking water and sanitation

The project is set to address bottlenecks in critical water supply services to households in the densely populated project area

The Board of Directors of the African Development Bank (www.AfDB.org) on Thursday approved a $ 124.2 million loan to finance the Urban Water Sector Reform and Akure Water Supply and Sanitation Project in Nigeria. The amount includes an African Growing Together Fund (AGTF) loan of $20 million. The overall project…

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

Kenya & Tanzania: Over 3 million people to benefit from African Development Bank’s €345 million road construction support

The total amount of co-financing is expected to be more than $ 1.2 billion when subsequent phases of the project are concluded

Over three million people in Tanzania and Kenya will benefit from a €345 million financing package for road construction support, approved by the African Development Bank’s (https://www.AfDB.org/) board in Abidjan on Thursday. The Bank’s support for the Mombasa-Lunga Lunga/Horohoro and Tanga-Pangani-Bagamoyo roads Phase I, is in the form of African…