Source: African Development Bank Group (AfDB) |

Egypt: The African Development Bank extends €145 million loan to bolster railway safety and reliability

The funding will be used to enhance operational safety and to increase network capacity on national rail lines

The Board of Directors of the African Development Bank (www.AfDB.org) has approved a loan of €145 million to finance reliability and performance upgrades to the country’s rail system under the Egypt National Railways Modernization Project (ENRMP). The funding will be used to enhance operational safety and to increase network capacity…

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…

Source: African Development Bank Group (AfDB) |

Mauritius and Morocco join African Development Bank (AfDB/AFMISM) Bloomberg® bond index

The African Development Bank administers the ABABI, a family of African bond indices launched in February 2015 and calculated by the independent, global index provider Bloomberg

The African Development Bank (www.AfDB.org) today announced the addition of two new countries - Mauritius and Morocco - to its Bloomberg African Bond Indices (ABABI), marking a steady progress in the Bank’s efforts to deepen the continent’s local currency bond market. The African Development Bank administers the ABABI, a family…

Source: African Development Bank Group (AfDB) |

Supporting Public Private Partnerships in Africa: African Development Bank ready to scale up

The African Development Bank estimates Africa’s infrastructure financing needs at up to $170 billion a year by 2025

Representatives of the African Development Bank (www.AfDB.org), governments, Development Finance Institutions, the private sector and  professional associations joined a September 8 workshop to discuss how the Bank can strengthen support for Public Private Partnerships and channel greater investment toward economic and social infrastructure. The event, titled Designing the African Development…

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

Infrastructure Fund Africa50 helps Egypt’s Solar Power Sector take off

Africa50 is an independent infrastructure fund, focused on high-impact projects mostly in the energy and transport sectors

A 37-square-kilometer solar park so large that it can be seen from space, with over seven million photovoltaic panels, and funding of $4 billion. In Africa? Impossible? Not anymore. Thirty international infrastructure developers got behind this project, investing in Egypt’s massive Benban solar park, which will be the largest in…

Source: African Development Bank Group (AfDB) |

Egypt: African Development Bank approves 225 million euros budget support loan for electricity sector to bolster economic resilience and sustainability amid COVID-19

The funding, provided in a challenging global context, will help meet the Government of Egypt’s financing requirements in the light of the COVID-19 pandemic

The Board of Directors of the African Development Bank (https://www.AfDB.org/) on Wednesday approved a 225 million euros loan to finance Egypt’s Electricity and Green Growth Support Program (EGGSP). The funding, provided in a challenging global context, will help meet the Government of Egypt’s financing requirements in the light of the…

Source: African Development Bank Group (AfDB) |

African Development Bank COVID-19 response: moving from commitment to action

As of June 12, the Bank’s COVID-19 emergency packages have reached the continent’s five geographic regions

The African Development Bank (https://www.AfDB.org) has responded swiftly to the needs of its member countries during the ongoing COVID-19 pandemic. The Bank’s operations have continued to run smoothly since the first cases appeared in early March, despite the wide range of lockdowns and measures imposed by governments to flatten the…

Source: African Development Bank Group (AfDB) |

Egypt: African Development Bank approves emergency relief aid to tackle food insecurity for vulnerable workers whose livelihoods are impacted by COVID-19

Egypt is the one of Africa’s hardest hit countries, with 17,900 confirmed cases to date

The Board of Directors of the African Development Bank (www.AfDB.org) on 25 May, 2020 approved a $500,000 emergency assistance grant to Egypt to provide food relief, and to contribute to restoring the livelihoods of vulnerable populations severely affected by COVID 19. The intervention will seek to complement ongoing activities by…

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

African Development Bank appoints Nourredine Lafhel Acting Chief Risk Officer

An experienced risk management professional, Nourredine has more than twenty (20) years of experience in finance and risk management

The African Development Bank Group (www.AfDB.org) is pleased to announce the appointment of Mr. Nourredine Lafhel as Acting Chief Risk Officer, effective 6th April 2020. Lafhel, a Canadian national, is currently the Sovereign Credit and Market Risk Division Manager (PGRF3), in the Directorate of the Group Risk Management Function of the African Development Bank Group. An…

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

“You have been in the trenches with us,” Ghana Vice President Mahamudu Bawumia tells African Development Bank

Ghana is looking to the Bank for investment in an integrated aluminium industry, using the country’s large bauxite deposit as raw materials

The African Development Bank’s (www.AfDB.org) support for the west African nation Ghana has boosted its government’s efforts to consolidate the economy, the country’s Vice President, Mahamudu Bawumia said on Monday. Bawumia, welcoming a team of Executive Directors and senior officials of the Bank on an official visit, cited various Bank-supported…