Approvals

Displaying 51 - 100 of 968

African Water Facility has raised €1.4 billion and funded 117 projects in 52 African countries

17-Dec-2018 - The Governing Council of the African water Facility (AWF) has commended the Facility for mobilizing over €1.4 billion for the implementation of projects. The Facility has also funded 117 national and regional projects in 52 countries, including transition states, since it began operations in 2006. The AWF received the commendation at the 18th meeting of the Governing Council of the Facility, held 6-7 December 2018 in Abidjan, Cote d’Ivoire.

Sudan: African Development Bank approves US$75 million to DAL Group Co. Ltd to transform country’s food and agriculture

17-Dec-2018 - The African Development Bank has approved its first private sector investment in Sudan in a multi-currency loan equivalent to US$75 million to DAL Group Co. Ltd – one of Sudan’s largest food and agriculture business groups. The investment, approved on 13 December 2018, will support the expansion of the company’s vertically integrated food and agriculture operations to transform the Sudanese agriculture and food industry.

Rwanda: African Development Bank approves €115 million, providing 1.5 million people access to water

17-Dec-2018 - The African Development Bank’s Board has approved additional funding support of €115 million to Rwanda’s Sustainable Water Supply and Sanitation Program, enabling 1.5 million people to access improved, reliable and sustainable water supply services.  The funding will cover strategic cities and address water and sanitation challenges in areas with a low access rate of 45% − a figure that is way below the national average of 85%.

Congo : La Banque africaine de développement s’engage à appuyer la relance économique du pays

14-Dec-2018 - Après deux années de récession due à la crise du secteur pétrolier, l’économie du Congo devrait retrouver des couleurs, avec un taux de croissance de 2 % attendu pour l’année 2018 et de 3,7 % pour 2019.

African Development Bank’s Board approves Bank’s borrowing program for 2019

14-Dec-2018 - The Board of the African Development Bank has approved the institution’s 2019 borrowing program to the tune of US$7.24 billion to be raised from the capital markets. The African Development Bank accesses a wide array of capital markets with the majority of its borrowing in US dollars and Euros as well as issuances in other public markets such as Australian dollars and Pound sterling.

Kenya: African Development Bank approves €62.914 million loan to improve access to sustainable wastewater services in Nairobi

13-Dec-2018 - The African Development Bank’s Board of Directors has approved €62.914 million to finance the provision of sustainable wastewater services through the ‘Nairobi Rivers Basin Rehabilitation and Restoration Program: Sewerage Improvement Project Phase II’. The objective of the project is to improve access, quality, availability and sustainability of wastewater services in Nairobi City to help restore the Nairobi River Basin.

Malawi: African Development Bank US$ 35 million loan to boost agriculture and natural resource management

06-Dec-2018 - The African Development Bank has approved a US$ 35 million loan for the Shire Valley Transformation Program - Phase 1 (SVTP-1), aimed at reducing poverty through the development of agricultural value chain and climate adaptation mechanisms. The Shire Valley Transformation Project will provide access to gravity fed irrigation and drainage services to the Chikwawa and Nsanje Districts south of Malawi. It will also secure land tenure for smallholder farmers and strengthen management of wetlands and protected areas.

Cameroun : 150 millions d’euros de la Banque africaine de développement pour soutenir la compétitivité et la croissance

03-Dec-2018 - Dans la continuité de la première phase du Programme d’appui à la compétitivité et à la croissance économique au Cameroun (PACCE I), le Conseil d’administration de la Banque africaine de développement a approuvé, jeudi 29 novembre 2018, un prêt de 150 millions d’euros pour engager la deuxième phase de cette initiative. Ce vaste programme de réformes est une opération pluriannuelle d’appui budgétaire sur trois ans qui court de 2017 à 2019.

The African Development Bank and Africa Growing Together Fund to Provide US$ 200 Million in Joint Financing to support the Nigeria Electrification Project

03-Dec-2018 - The Board of Directors of the African Development Bank Group has approved a US$150 million sovereign loan to the Federal Government of Nigeria to finance the Nigeria Electrification Project (NEP). The financing will support rural electrification efforts in Nigeria by facilitating private sector development and rollout of off-grid solutions, as well as the installation of dedicated power systems for Federal Universities.

South Africa: African Development Bank approves a ZAR 3 billion loan to bolster renewable energy in South Africa

30-Nov-2018 - The Board of Directors of the African Development Bank has approved a senior loan of ZAR 3 billion to the 100 MW Redstone Concentrated Solar Power Project, which is expected to boost South Africa’s energy mix and hasten transition to renewable energy. Located in the Humansrus Solar Park, Northern Cape Province of South Africa, the solar power project is expected to generate 466 GWh/year. This will offset diesel-fueled Open Cycle Gas Turbine’s (OCGT’s) operating at peak demand, thereby avoiding and mitigating...

Kenya: African Development Bank Group approves US$18.17 million for the Kopere Solar Project in Kenya

30-Nov-2018 - The African Development Bank Group has approved a US$ 18.17 million senior loan to the 40 MWac (50MWp) Kopere Solar Power Project owned by Voltalia, an international player in the renewable energy sector listed on the Paris stock exchange. The Bank is also in the process of securing a US$ 11.6 million concessional loan from the Climate Investment Fund’s Scaling-up Renewable Energy Program (SREP).

African Development Bank approves $100 million facility to enhance trade financing across Africa

29-Nov-2018 - The Board of Directors of the African Development Bank Group (the Bank), on Thursday, 29 November, 2018, approved a second unfunded $100-million Risk Participation Agreement (RPA II) facility for First Rand Bank Ltd (FRB).  Housed under the Trade Finance operations of the Bank, this facility will enhance FRB’s ability to underwrite trade finance transactions originating from issuing banks in transition states and low-income countries (LICs) across Africa. 

African Development Bank loan to extend safe water supply and sanitation to Manzini Region in eSwatini

29-Nov-2018 - The Board of Directors has approved a ZAR 720 million loan to finance the Manzini Region Water Supply and Sanitation Project in eSwatini (former Swaziland). The project aims to expand access to adequate water and sanitation services for all citizens and to contribute to economic development and poverty alleviation in Eswatini.

Senegal: African Development Bank Group approves € 51.26 million loan for Malicounda Dual Fuel power plant

29-Nov-2018 - The Board of Directors of the African Development Bank Group has approved a €51.26 million senior loan to finance a 120MW dual-fuel combined cycle power plant in Malicounda, Senegal. The Bank, acting as Mandated Lead Arranger, will further mobilize additional resources from DFIs to meet the required debt portion of the transaction.

African Development Bank approves US$50 million equity investment in Africa Finance Corporation to support infrastructure projects in Africa

29-Nov-2018 - The African Development Bank has approved an equity investment of US$50 million in Africa Finance Corporation (AFC) − a pan-African development finance institution established in 2007.  This equity investment aims to foster strategic partnerships with a certain number of African DFIs that have a comparative advantage at regional or sub-regional levels in certain strategic sectors. By so doing, the Bank will accelerate and deepen co-financing opportunities, joint implementation and knowledge sharing for the...

Cameroon: African Development Bank approves €17.96 million Ring-Road project to improve socio-economic growth in the North-West province

28-Nov-2018 - The African Development Bank has approved a €17.96 million loan to the Republic of Cameroon to finance the construction of a Ring-Road Project in the North-West Province of the country. The Ring Road project, which falls under phase three of the country’s Transport Sector Support Programme, aims to improve the movement of goods and people. It will also strengthen the foundations for strong and sustainable growth by promoting domestic and regional trade.

African Development Bank supports entrepreneurship in transition states through equity investment in Trade and Development Bank

27-Nov-2018 - The Board of Directors of the African Development Bank has approved an additional equity investment of US$ 25 million in Trade and Development Bank (TDB) to enhance the latter’s trade, finance and infrastructure investment operations. The investment will help expand Trade and Development Bank’s diverse socio-economic development interventions in countries in situations of fragility including Burundi, Comoros, Democratic Republic of Congo, Somalia and Sudan.

Niger : Le DSP 2018-2022 approuvé pour consolider et amplifier les progrès en matière de développement socio-économique

23-Nov-2018 - Le Niger a accompli des progrès encourageants durant la période 2012-2017 en matière de développement socio-économique, s’est félicité le Conseil d’administration de la Banque africaine de développement. Afin de consolider et amplifier ces acquis, les administrateurs ont approuvé le jeudi 22 novembre 2018, le Document de stratégie-pays (DSP) pour la période 2018-2022.

African Development Fund approves US$322 million for road upgrading project in Burundi and Tanzania

22-Nov-2018 - The Boards of Directors of the African Development Bank Group have approved US$322.35 million loans and grant to Burundi and Tanzania to finance the Rumonge-Gitaza (45 km) and Kabingo-Kasulu-Manyovu (260 km) road upgrading project.

African Development Bank Group approves US$123 million grant for Ethiopia’s Basic Services Transformation Programme

19-Nov-2018 - The Board of Directors of the African Development Fund (ADF), the concessional window of the African Development Bank Group, has approved additional resources to Ethiopia’s Basic Services Transformation Programme in the form of a US$123- million grant.

African Development Bank to play bigger role in African economies by investing in infrastructure private equity

16-Nov-2018 - The Board of Directors of the African Development Bank has approved its third equity investment of US$40 million in Africa Infrastructure Investment Fund (AIIF3), a closed-ended pan-African infrastructure fund managed by South Africa-based Africa Infrastructure Investment Managers (AIIM).

Donors commend NEPAD-IPPF’s operational performances

14-Nov-2018 - The 28th NEPAD-Infrastructure Project Preparation Facility (NEPAD-IPPF) Oversight Committee Meeting held at Sandton Sun Hotel, Sandton City, Johannesburg, South Africa on 5th November 2018, has commended the operational performances of the Facility. The meeting Chaired by Michael Andres Committee Chairman & Senior Project Manager at  KfW Development Bank, brought together key players within the infrastructure sectors on the continent along with donor representatives who support the Special Fund.

Board approves €7 million investment in Partech Africa Fund

14-Nov-2018 - The African Development Bank’s efforts to channel critical investment funding to Africa’s entrepreneurs received a big boost on Wednesday, 18 October 2018  in Abidjan, where the Bank’s executive directors approved €7 million equity investment in Partech Africa Fund. Partech is a Venture Capital Fund dedicated to investing in tech-enabled, innovative, high growth potential and talented entrepreneurs operating early stage companies and applying relevant technologies to address fundamental market constraints with...

La Banque africaine de développement approuve un accord de partenariat avec Natixis pour développer le commerce en Afrique

09-Nov-2018 - Le Conseil d'administration du Groupe de la Banque africaine de développement a approuvé un Accord de participation aux risques (APR) d’un montant de 50 millions de dollars EU au profit de Natixis. Ce programme de partage de risques (50/50), en mesure de couvrir un portefeuille de transactions à concurrence de 100 millions de dollars EU, vient en soutien des quelque 600 millions de dollars EU (valeur cumulative) d’opérations commerciales sur les 3 prochaines années.

Niger Basin Authority will get US$134 million to spur Development and Climate Change Adaptation in the Niger Basin (PIDACC)

07-Nov-2018 - In a bid to improve the resilience of the people and ecosystems of the Niger River Basin, the Board of Directors of the African Development Bank, has approved US$76 million for the integrated development and climate change adaptation in the Niger Basin. The program is co-financed with – the Green Climate Fund, the European Union, the Global Environment Fund, the Forest Investment Fund and the various governments – to the tune of US$134 million.

African Development Bank rolls out programme to boost climate risk financing and insurance for African countries

29-Oct-2018 - The African Development Bank has approved the Africa Disaster Risks Financing (ADRiFi) Programme, the institution’s first climate risk management programme to boost resilience and response to climate shocks in regional member countries.

ADF Supports Nile Basin Power Project

27-Oct-2018 - Tunis, 27 October 2006 – The Board of Directors of the African Development Fund (ADF), the concessional window of the African Development Bank (AfDB) Group, on Friday in Tunis,  approved a grant of  2.57 million Units of Account (UA*), equivalent to US$ 3.79 million to finance a study on power transmission lines in the Rusumo Falls hydropower station.

Malawi: The African Development Bank approves US$ 15 million grant for Nkhata Bay Town Water Supply and Sanitation Project

26-Oct-2018 - The African Development Bank Group, has approved a US$15 million grant from the African Development Fund (ADF) for a water supply and sanitation project in Malawi, expected to provide jobs and boost the livelihoods of nearly 300,000 people.

Plus de 121 millions de dollars de dons de la Banque africaine de développement pour le transport aérien en RDC

25-Oct-2018 - La Banque africaine de développement continue d’œuvrer en faveur de l’amélioration du transport aérien en République démocratique du Congo (RDC).

Agri-tech can turn African Savannah into global food basket – African Development Bank

25-Oct-2018 - The African Development Bank is championing a new regional and global effort to transform the African Savannah from a “Sleeping Giant” to the cradle of the continent’s green revolution.

Mali : le Groupe de la Banque africaine de développement soutien le secteur privé avec 30 millions d’euros

23-Oct-2018 - Le Conseil d’administration du Groupe de la Banque africaine de développement a approuvé une ligne de crédit de 30 millions d’euros en faveur de la Banque de Développement du Mali (BDM-SA), en vue de procurer des financements sur le long terme à sa clientèle, et de répondre à leurs besoins d’investissement.  La clientèle de la BDM-SA est constituée aussi bien de grandes que de petites et moyennes entreprises (PME) opérant dans des secteurs réputés être à haute intensité de main d’œuvre, tels que l’agro-industrie...

Green Climate Fund Board approves three African Development Bank proposals for Green Climate Projects worth over US$ 110 million

23-Oct-2018 - The Board of the Green Climate Fund (GCF) has approved funding for three proposals from the African Development Bank totaling over US$110 million. The approvals were granted at the GCF’s 21st Board Meeting held October 17 – 20 2018 in Manama, Bahrain. Overall, the GCF Board, which was co-chaired by Paul Oquist from Nicaragua, and Ambassador Lennart Båge from Sweden, considered 20 funding proposals requesting approximately US$1.2 billion.

Projet de transport urbain d’Abidjan : 329 millions d’euros supplémentaires de la Banque africaine de développement pour boucler le financement du projet

23-Oct-2018 - Désireux d’améliorer les conditions de vie des 5 millions d’Abidjanais, la compétitivité des activités économiques urbaines, de promouvoir le développement industriel, la planification et la gestion urbaines, l’hygiène, la salubrité publique et la qualité de l’air, le gouvernement ivoirien a initié un vaste programme intégré de développement urbain, évalué à 770 millions d’euros, qui met l’accent sur les infrastructures de transport.

South Africa’s mass transit sector secures US$ 10 million and ZAR 1.4 billion African Development Bank loans.

22-Oct-2018 - The African Development Bank has approved over US$100 million in loans to SA Taxi Development Finance Limited, a wholly owned subsidiary of SA Taxi Finance Holdings Proprietary Limited, a vertically integrated business platform that provides a comprehensive financial and allied services offering to minibus taxi operators.  The minibus taxi system accounts for about 69 percent of all public transport trips in South Africa. The financing will support the Company’s growth plans and initiatives to support Small and...

African Development Bank approves US$50mn facility to support SMEs and Women Owned Enterprises in Nigeria

18-Oct-2018 - The African Development Bank has approved a US$50 million line of credit to Nigeria’s Fidelity Bank Plc to support small and medium sized, and women-owned enterprises in selected transformative sectors, including close to a hundred SMEs in manufacturing, health and education.

The African Development Bank to invest the Naira equivalent of USD 10 million into the Chapel Hill Denham Nigeria Infrastructure Debt Fund

17-Oct-2018 - The Board of Directors of the African Development Bank Group has approved a Naira investment equivalent to US$ 10 million in Chapel Hill Denham Nigeria Infrastructure Debt Fund (NIDF). This investment aims to meet the country’s infrastructure investment needs, including in the power and energy infrastructure sectors. NIDF is the first and the only listed local currency infrastructure debt fund in Africa.

Rwanda and African Development Bank sign €229 million loan agreements to finance electricity projects

17-Oct-2018 - The Government of Rwanda has signed a €229.20 million funding agreement with the African Development Bank to support the country’s  program to improve electricity supply and expand access to electricity under the Scaling Up Electricity Access Program Phase II (SEAP II). This operation builds on the successful implementation of the Scaling Up Electricity Access Program (SEAP) approved by the Bank in 2013 with a combined estimated €39.74million loan and grant.

African Development Bank approves Malawi Country Strategy Paper 2018 – 2022

16-Oct-2018 - The African Development Bank has approved its Country Strategy Paper for Malawi for 2018-2022. The strategy blueprint is part of ongoing efforts to boost economic diversification, reduce dependency on rain-fed agriculture and build resilience for growth in the southern African nation.

African Development Bank and peers leverage Blended Finance to unlock nearly US$9 billion for Developing Countries

15-Oct-2018 - The African Development Bank and other development finance institutions (DFIs) last year used about US$1.2 billion in concessional funds to support nearly US$9 billion in private investment projects in emerging markets, according to a new DFI report that highlights how blended concessional finance can be key to mobilizing private investment in challenging environments.

African Development Bank approves strategy to accelerate transformation of Eastern Africa

12-Oct-2018 - The African Development Bank has approved the East Africa Regional Integration Strategy Paper (RISP) laying out the roadmap for accelerating regional integration in the Region with regional infrastructure development among the main pillars of the plan. The Strategy will guide the Bank’s regional operations in 13 countries, namely Burundi, Comoros, Djibouti, Eritrea, Ethiopia, Kenya, Rwanda, Seychelles, Somalia, South Sudan, Sudan, Tanzania and Uganda.

Tunisie : 76 millions d’euros de la Banque africaine de développement pour améliorer l’assainissement des petites communes

11-Oct-2018 - Le Conseil d’administration du Groupe de la Banque africaine de développement a approuvé, jeudi 11 octobre 2018, un prêt de 75 millions d’euros ainsi qu’un don de 1 million d’euros pour financer la première phase du programme d’assainissement des petites communes de moins de 10 000 habitants en Tunisie. 

African Development Bank approves recommendations by the Independent Review Mechanism for Form Ghana Reforestation Project

04-Oct-2018 - The implementation of mitigation measures to bring Form Ghana Reforestation Project into compliance with Bank environmental and social standards have received a green light from the African Development Bank. The Bank’s Independent Review Mechanism made the recommendations after a spot check review.

Une prise de participation de 15 millions d’euros de la Banque africaine de développement pour la transformation numérique des institutions financières du continent

28-Sep-2018 - Le Conseil d’administration de la Banque africaine de développement a donné son feu vert, mardi 25 septembre 2018, à Abidjan, à une prise de participation de 15 millions d’euros dans le fonds FIVE (Financial inclusion vehicle), un instrument d’inclusion financière mis en place en 2017 par le groupe AfricInvest.

South Africa: Eskom to expand transmission network with $218 million loan from African Development Bank

27-Sep-2018 - The African Development Bank has approved a ZAR 2.886 billion (US$217.9 million) loan to South Africa’s power utility Eskom Holdings Ltd, towards the upgrade and expansion of its transmission facilities. The entity is crucial to power supply within the sub-region.

African Development Bank Approves $50mn facility to support Nigeria’s rural populations

26-Sep-2018 - The African Development Bank has approved a US$50 million line of credit to Nigeria’s Sterling Bank Plc to support micro, small and medium sized enterprises (MSMEs) in strategic sectors, including agriculture, renewable energy and social sectors such as health and education.

African Development Bank Supports Ghana’s Renewable Energy Sector with $1.5 Million Grant

24-Sep-2018 - The African Development Bank has approved a US$1.5 million grant from its Sustainable Energy Fund for Africa (SEFA), to assist Ghana’s s renewable energy investment drive. The grant will support the Ghana government’s efforts to overcome technical, financial, regulatory and institutional barriers to scaling-up renewable energy investments in the country.

Liberia: African Development Bank Approves $1mn to boost Private Sector in Wood Industry

21-Sep-2018 - The African Development Bank’s Fund for African Private Sector Assistance (FAPA), has approved  a grant of US $1 million to Liberia, to provide  technical assistance to its fast-growing wood processing industry. The grant will strengthen the capacity of public and private sector players in the nation’s secondary wood processing industry and provide institutional support to small and medium-sized enterprises (SMEs).

Sustainable Energy Fund for Africa grants US$ 1 million to stimulate renewable energy investments in Angola

13-Sep-2018 - The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank,  has approved a US$1 million  grant  to Independent Power Producers (IPP) in Angola to encourage private investment in renewable energy.

African Development Bank’s Board approves Policy on Non-Sovereign Operations

12-Sep-2018 - The Board of Directors of the African Development Bank Group has approved the Bank’s Policy on Non-sovereign Operations (NSO). The document provides the framework within which the Bank through its private sector lending window may provide financing or investment without sovereign guarantees to private and public entities that meet specific eligibility requirements on non-concessional terms.

Senegal: African Development Bank supports prudent debt management and Senegal’s National Development Strategy

11-Sep-2018 - On September 5th, 2018, the Board of Directors of the African Development Bank approved a partial credit guarantee for the Republic of Senegal to help hedge currency risk arising from Eurobonds. This innovative operation aims to support the Senegalese government’s efforts to improve the predictability of its debt servicing and enhance prudent management.