News & Events
21/12/2015 - Sierra Leone will soon benefit from the construction and operation of a 50 MW power plant. The Board of Directors of the African Development Bank (AfDB), on 17 December, 2015 in Abidjan, approved a senior loan of up to USD 20 million to fund up the construction and operation of a 50MW Heavy Fuel Oil (HFO), interconnection facilities and a fuel pipeline in Kissy, four kilometers east of Freetown, Sierra Leone.
21/12/2015 - The Board of Directors of the African Development Bank (AfDB), through its private sector window, approved a senior corporate loan equivalent to USD 375 million in ZAR-equivalent and a corresponding A/B syndicated loan for up to USD 750 million to support the Capacity Expansion Program (CEP) of Eskom Holdings SOC Ltd of South Africa. Eskom is South Africa’s state-owned power utility and the country’s primary electricity supplier with over 90 years of operational experience.
21/12/2015 - The Board of Directors of the African Development Bank Group (AfDB), on December 17, 2015 in Abidjan, approved EUR 24 million to fund the expansion of Kribi Power Plant, an existing natural gas plant in Cameroon, operating since May 2013. The expansion of Kribi (Kribi II) consists of the development, design, construction, operation and maintenance of a 125 MW gas-fired power plant extension. Upon completion, Kribi Power Plant’s aggregate capacity will be 340 MW.
21/12/2015 - The Board of Directors of the African Development Bank (AfDB), through its private sector window, has approved a Senior Loan equivalent to USD 300 million to support the construction of a 912 Km of railway (of which 230 Km are greenfield) and associated port infrastructure from Tete Province in Mozambique to the Mozambican port of Nacala e-Velha running through landlocked Malawi (“the Project”), along the Nacala Corridor. The Project sponsors are Vale SA of Brazil and Mitsui of Japan.
01/10/2015 - The African Development Bank approved on Wednesday, September 30, 2015 a €121.5-million package to the Gambia River Basin Development Organization (OMVG) to improve electricity access and provide renewable, clean and affordable energy in The Gambia, Guinea, Guinea-Bissau and Senegal.
01/10/2015 - The Board of Directors of the African Development Bank Group approved on Wednesday, September 30, 2015, two loans totaling US $141.71 million to finance the second phase of the Dar es Salaam Bus Rapid Transit (BRT) System Project.
03/07/2015 - The Boards of the African Development Bank Group (AfDB) on Wednesday, July 1, 2015 approved debt relief for the Republic of Chad under the Enhanced Heavily Indebted Poor Country (HIPC) initiative in the amount of US $37 million (at end 2000 Net Present Value terms, or approximately US $66.04 million, in nominal terms). This follows a joint assessment of the country in April 2015 by the IMF and World Bank as having attained the HIPC ‘Completion Point’.
10/06/2015 - The African Development Bank Group (AfDB) will assist in tackling the prevailing food security and poverty challenges in São Tomé and Príncipe with a combined loan and grant of US $19.5 million approved by the Board of Directors on Wednesday, June 10, 2015 in Abidjan, Côte d’Ivoire.
13/05/2015 - The Board of Directors of the African Development Bank (AfDB) approved on Wednesday, April 29, 2015, a USD 50 million investment in CEC Africa Investments Limited, a multinational power company headquartered in Nigeria and Zambia. CEC Africa (CECA) seeks to acquire and develop distribution and transmission assets and complementary greenfield generation projects throughout Sub-Saharan Africa. By investing across the energy value chain (generation, transmission, and distribution), CECA aims to reduce electricity losses while improving the overall economics in Africa’s power sector.