Press Releases
19/06/2012 - The Board of Directors of the African Development Bank (AfDB) has approved a USD 35-million senior loan and a USD 3 million standby facility to Itezhi-Tezhi Power Corporation (ITPC) and a concessional loan of USD 18 million to the government as Zambia Electricity Supply Company (ZESCO)’s share of the equity to develop the Itezhi-Tezhi hydropower plant project that will provide reliable, low-cost power and sustainable energy to the country.
Categories: Zambia, Private Sector Development, Energy & Power
16/05/2012 - The Boards of Directors of the African Development Bank Group today in Tunis approved the equivalent of USD 436 million for the financing of Morocco’s power project, and two other investments in Africa. The first approval is an AfDB loan of Euro 168 million and USD 100 million Clean Technology Fund concessionary loan to finance the first phase of the Ouarzazate solar power station in Morocco.
Categories: Morocco, Energy & Power, Climate Change, Climate Investment Funds (CIF), Environment
10/05/2012 - As Mali strives to become an emerging economy, it is focusing on energy sector reforms to support growth and improve quality of life. Renewable energy holds significant potential for scaling up across the country and promises to decrease dependence on fossil fuel imports and reduce forest degradation caused by increasing energy demands.
Categories: Mali, Climate Investment Funds (CIF), Energy & Power, Climate Change, Environment
17/04/2012 - The African Development Bank (AfDB) and Kenya’s Geothermal Development Company (GDC) have launched the Menengai geothermal project, designed to produce electricity for 500,000 households and displace two million tons of CO2 per annum.
Categories: Kenya, Energy & Power
16/03/2012 - The African Development Bank (AfDB) and the Kenyan government signed loan and grant agreements totaling some USD 336 million in support of clean energy and road infrastructure development in Kenya on 12 March. The financial package includes a USD 186.7 million loan for the Mombasa-Nairobi-Addis Ababa Road Corridor Project and a USD 149.5 million loan and grant financing for the Menengai Geothermal Development Project.
Categories: Kenya, Infrastructure, Energy & Power
23/12/2011 - The African Development Bank (AfDB), and other development finance institutions including the International Finance Corporation (IFC), the Netherlands Development Finance Company (FMO), the Development Bank of Central Africa (BDEAC), Proparco, and a syndication of local banks led by Standard Chartered Bank signed on 22 December a loan agreement to provide a EUR 198 million to the Kribi Power Development Company (KPDC). KPDC is a subsidiary of the AES Corporation, an American global power company which provides affordable, sustainable energy to 27 countries worldwide, in partnership with the Government of Cameroon, which owns 44% of KPDC.
Categories: Cameroon, Private Sector Development, Energy & Power
16/12/2011 - Menengai geothermal steam field development project will set the stage for investments that will help meet Kenya’s rapidly increasing demand for power and transform the country into a competitive clean energy economy. On 14 December 2011 in Tunis African Development Bank (AfDB) Group Board of Directors, approved two financing vehicles to support the project. It will be financed through a loan of USD 124 million from African Development Fund (ADF) concessionary resources, and a loan and grant totaling USD 25 million from the scaling-up renewable energy program under the Climate investment funds for which AfDB Group is an implementing agency.
Categories: Kenya, Energy & Power
09/12/2011 - The Board of Directors of the African Development Bank (AfDB) has approved on 7 December a € 28.1 million senior loan to support the Thika Thermal Power Project in Kenya. This reliable energy private sector power project will encourage economic growth by helping to address Kenya’s energy shortfall.
Categories: Kenya, Energy & Power, Private Sector Development
02/12/2011 - La Banque africaine de développement (BAD) et la conférence des Nations Unies sur le commerce et le développement (CNUCED) ont exprimé fermement leur volonté de dynamiser le développement grâce aux énergies renouvelables lors du lancement à Tunis du nouveau rapport 2011 sur la technologie et l’innovation.
Categories: Energy & Power, Climate Change, Environment
11/11/2011 - The Board of Directors of the African Development Bank (AfDB) Group today approved a USD 71.1- million loan from African Development Fund’s resources to finance the Lom-Pangar Hydroelectric project in Cameroon. The project estimated to cost USD 419.2 million is jointly financed by five donors including the World Bank, the European Investment Bank, the Development Bank of Central African States and the French Development Agency.
Categories: Cameroon, Energy & Power
