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African Development Bank Group (AfDB)

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    • African Development Bank Group supports the Union of the Comoros in extending and modernizing Moroni and Boingoma ports to boost trade and economic development
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Source: African Development Bank Group (AfDB) |

African Development Fund grants the Union of the Comoros $135 million to develop its ports and facilitate regional trade

The project will improve the Union of the Comoros' national and international connectivity by upgrading port infrastructure, promoting regional integration and creating an ecosystem conducive to the development of value chains

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $135 million package to the Union of the Comoros – its largest ever to the Indian Ocean archipelago – to finance a major maritime and regional trade project. The support for the Maritime Corridor and Regional…

African Development Bank Group (AfDB)

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    • Opening session of the preparatory workshop on the African Ports Connectivity Portal Project, held in Abidjan
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Source: African Development Bank Group (AfDB) |

Boosting African Port Efficiency: Stakeholders conclude key African Development Bank workshop on Connectivity Portal

The African Ports Connectivity Portal Project is supported by a $2 million grant from the Beijing-based Multilateral Co-operation Center for Development Finance (MCDF)

The African Development Bank (www.AfDB.org) has successfully concluded a two-day preparatory workshop on implementing the African Ports Connectivity Portal Project (APC-PP) to improve data collection and connectivity among the continent’s ports. Held in Abidjan, Cote d’Ivoire, from 8-9 July 2024, the workshop rallied together key stakeholders and experts from various…

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

Ghana’s New Ship Repair Dock Project Funding Sealed as Financiers Sign $94 MN Syndicated Loan

With this milestone, the project, nicknamed “Shiprite,” has secured the total commitment of all providers for the required $137 million in capital

A consortium, including the African Development Bank (www.AfDB.org), has signed an agreement to extend $94 million in senior debt funding to PMD Assetco Limited (PMD) for the construction and operation of a floating dock ship repair facility in Ghana’s western Takoradi port. Other consortium members are the African Export-Import Bank…

African Development Bank Group (AfDB)

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    • Planned for construction and implementation over 5 years, Senegal's Agropole Nord will help to sustainably increase household incomes and food security
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Source: African Development Bank Group (AfDB) |

Senegal: African Development Bank agrees loan of nearly €87 million for Agropole Nord

The Bank's contribution accounts for 30.7% of the estimated €283.05 million total project cost

Meeting in Abidjan on Wednesday 22 November 2023, the Board of Directors of the African Development Bank Group (www.AfDB.org) approved a €86.89 million loan to Senegal to develop an agribusiness processing zone in the north of the country. The Bank's contribution accounts for 30.7% of the estimated €283.05 million total project…

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

Ghana: African Development Bank approves $23.04 million for modern Floating Dock Facility

The Board also authorized the syndication, on a “best efforts basis”, of additional financing of up to $11 million

The Board of Directors of the African Development Bank (http://www.AfDB.org) has approved a $23.04 million loan to Prime Meridian Docks AssetCo Ltd (PMD), a special purpose entity to co-finance the construction of a modern floating dock ship repair facility in Ghana’s western Takoradi port. The loan will support the company…

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    • Dr Hussein Mwinyi, president of Zanzibar (center) , AfDB Tanzania country manager, Patricia Laverley, and delegations representing the government and the AfDB at the Golden Tulip Hotel in Zanzibar for the 17 May launch of the SEBEP project
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Source: African Development Bank Group (AfDB) |

African Development Bank Group, Government of Tanzania launch $54 million initiative to drive job creation for youth in Zanzibar’s blue economy

Ocean-based activities, including tourism, contribute more than 29% of Zanzibar’s gross domestic product and employ about 33% of its work force

The African Development Bank Group (www.AfDB.org) and the Republic of Tanzania have launched the Skills Development for Youth Employability in Blue Economy project. This is a project that will enable Zanzibari youth to find well-paying maritime and other blue economy jobs. The Bank is providing grant financing of $48.65 million…

African Development Bank Group (AfDB)

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    • African Development Bank Director General for Central Africa, Serge N'Guessan (left), and Cameroon's Minister of the Economy, Planning and Regional Development, Alamine Ousman Mey, shake hands at the loan signing ceremony
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Source: African Development Bank Group (AfDB) |

Cameroon: New African Development Bank Funds to Develop the Port Sector and Sustainable Urban Sanitation

The African Development Bank's Director General for Central Africa, Serge N'Guessan, and Alamine Ousman Mey, Cameroon's Minister of the Economy, Planning and Regional Development signed the loan agreements for both projects

The African Development Bank Group (www.AfDB.org) has provided new funding for two ongoing major projects in Cameroon: the Develop Access Roads to the Industrial and Port Area of Kribi Project (PARZIK) (https://bit.ly/3E0Ijex) and the Yaoundé City Sustainable Enhanced Drainage and Sanitation Project (PCADY) (https://bit.ly/3E0Is1z). The African Development Bank's Director General…

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    • African Development Bank Group President Dr. Akinwumi Adesina (L) and Cabo Verde PM José Ulisses de Pina Correia e Silva inaugurate the modernized port of Maio on September 7
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Source: African Development Bank Group (AfDB) |

Upgraded Maio Port to transform economy, boost trade in Cabo Verde

The modernization of the Ports of Maio and Palmeira cost €36 million, with the African Development Bank providing €17.87 million

African Development Bank (www.AfDB.org) President Dr. Akinwumi A. Adesina on Wednesday inaugurated the upgraded Port of Maio in Cabo Verde, which will help reduce sea travel time to the capital Praia, and boost trade. The modernization of the Ports of Maio and Palmeira cost €36 million, with the African Development…

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

Mozambique conference calls for revival of fishing communities

Mozambique has the third-longest coastline in Africa, with enormous coastal resources that contribute significantly to the economy

African leaders and policymakers have called for strategies to harness the potential of the blue economy to achieve sustainable development. The call came at a high-level conference hosted by the Government of Mozambique on 18 and 19 November in the City of Vilanculos. The theme was Investing in Ocean Health…

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

Mauritius: African Development Bank approves emergency relief to boost clean-up of marine oil spill

Funding, to be sourced from the Special Relief Fund, will complement ongoing activities by the government of Mauritius, development partners, and other actors

The Board of Directors of the African Development Bank (www.AfDB.org) on Wednesday approved a $500,000 emergency assistance grant to support international recovery efforts after a significant oil spill earlier this year off the coast of Mauritius. The funding, to be sourced from the Special Relief Fund, will complement ongoing activities…