Source: African Development Bank Group (AfDB) |

Gabon: African Development Bank approves 100.5 million euros budget support for COVID-19

The loan will support the central African nation’s Budget Support Programme in Response to the COVID-19 Crisis or PABURC, which aims to strengthen the health system

The Board of Directors of the African Development Bank (https://www.AfDB.org/) has approved a 100.5 million euros loan to the government of Gabon as budget support to mitigate against the effects of the COVID-19 outbreak. The loan will support the central African nation’s Budget Support Programme in Response to the COVID-19…

Source: African Development Bank Group (AfDB) |

African Development Bank approves EUR 88 million loan to Cameroon to finance COVID-19 response

In Cameroon, the pandemic has revealed the structural weaknesses of the country’s health system and economy

The Board of Directors of the African Development Bank (www.AfDB.org) on Monday approved a EUR 88 million loan to Cameroon as direct budget support to finance the country’s COVID-19 crisis response. The loan, to the country’s COVID-19 Crisis Response Budget Support Programme (PABRC), falls under the framework of the Bank’s…

Source: African Development Bank Group (AfDB) |

African Development Bank approves new five-year strategy for Nigeria amidst COVID-19 concerns

The approval was made on 27 May 2020

The Board of Directors of the African Development Bank (www.AfDB.org) has approved Nigeria’s Country Strategy Paper (CSP) 2020-2024, which builds on the successes and challenges of the 2013-2019 edition, and incorporates emerging developmental realities and opportunities shaping Nigeria’s political and economic landscape, including in the post-COVID-19 period. The approval was…

Source: African Development Bank Group (AfDB) |

African Development Bank welcomes $10 million Clean Technology Fund investment to diversify Ethiopia’s energy mix

With this investment, CTF becomes the first progressive geothermal Independent Power Producer (IPP) in Ethiopia

The African Development Bank (www.AfDB.org) has welcomed a decision by the Trust Fund Committee of the Clean Technology Fund (CTF) (https://bit.ly/3dpAuyj), one of two funds within the Climate Investment Funds (CIF) (https://bit.ly/3fvTSeP), to extend a $10 million concessional senior loan for development of the 50 MW Tulu Moyo Geothermal Power Plant project…

Source: African Development Bank Group (AfDB) |

African Development Bank strongly rebuts claims that it plans to provide financial support to the East African Crude Oil Pipeline Project

The NEPAD Infrastructure Project Preparation Facility (NEPAD-IPPF) has not provided financing to any Private Sector Company for upstream oil or gas pipeline projects in East Africa

The African Development (www.AfDB.org) Bank has become aware of an inaccurate news article stating that the institution plans to provide financial support to the East African Crude Oil Pipeline Project. The Bank strongly refutes the claims in the misleading article, which references a letter by a group of civil society…

Source: African Development Bank Group (AfDB) |

African Development Bank President Akinwumi Adesina opens trading on London Stock Exchange

“My ringing of the bell here today, marks the beginning of a new exciting, strategic, and impactful engagement.” – African Development Bank President Akinwumi Adesina

Don Robert, Chairman of London Stock Exchange Group, welcomed the president of the African Development Bank (https://www.AfDB.org/) to open markets for trading at London Stock Exchange on Wednesday 22 January. The reception in London followed the African Development Bank’s Africa Investment Forum, held in November last year. The innovative market-place…

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…

Source: African Development Bank Group (AfDB) |

African Development Bank and partners inaugurate Shango power substation in Rwanda to facilitate access to the regional electricity market

The Bank’s support to the energy sector has more than doubled over the past three years to the current level of 410.66 million euros

The African Development Bank (AfDB.org), Embassy of Germany in Rwanda and the KfW Development Bank joined the Government of Rwanda to inaugurate the high voltage 188 MVA Shango power substation in the capital Kigali and its related transmission network. The substation is part of the NELSAP Regional Interconnection Project involving…

Source: African Development Bank Group (AfDB) |

Hola, Madrid! African Development Bank takes the continent’s climate agenda to COP25 in Spain

The Bank has doubled its total climate change commitment to $25 billion between 2020 and 2025

The Bank is playing a leading role in guiding progress on climate change on the continent. The Bank has doubled its total climate change commitment to $25 billion between 2020 and 2025. The African Development Bank (http://www.AfDB.org) will on Monday kick off a campaign to plead the continent’s case at…

Source: African Development Bank Group (AfDB) |

African Development Bank at 25th Conference of the Parties (COP25)

This annual conference is the single global platform for all nations to negotiate an internationally agreed way forward to combat climate change

WHO: African Development Bank Group WHAT: 25th Conference of the Parties (COP25) of the United Nations Framework Convention on Climate Change (UNFCCC) WHERE: IFEMA, Madrid, Spain WHEN: 2-13 December 2019 The 25th session of the Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC)…