Approvals

Displaying 13 - 24 of 944

Botswana: African Development extends US$80m line of credit to help industrialization and regional integration

25-Apr-2019 - The Board of Directors of the African Development Bank Group (AfDB) has approved a USD 80 million line of credit to the Botswana Development Corporation Ltd (“BDC”) to help the country’s industrialization and regional integration. The line of credit will be provided via the African Development Bank’s private sector window and will be used to finance local companies in the Botswana's manufacturing, transport, logistics and services sectors. In total, the projects are expected to create between 2500 and 2800 jobs...

La Banque africaine de développement soutient la lutte contre le travail des enfants dans les mines de cobalt en RDC

19-Apr-2019 - Pour lutter contre le travail des enfants dans les mines de cobalt en République démocratique du Congo (RDC), la Banque africaine de développement a approuvé, mercredi 17 avril 2019, un financement de 84,36 millions de dollars américains en faveur du Projet d’appui au bien-être alternatif des enfants et jeunes impliqués dans la chaîne d’approvisionnement du cobalt (PABEA-Cobalt). Les administrateurs du Groupe de la Banque africaine de développement ont donné leur feu vert à cette aide, composée d’un prêt de 45,...

Nigeria: African Development Bank approves $15 million investment package for Infrastructure Credit Guarantee Company

12-Apr-2019 - The Board of the African Development Bank has approved a $15-million investment package to Infrastructure Credit Guarantee Company (InfraCredit), to support infrastructure financing through the domestic debt capital markets in Nigeria. The investment package to InfraCredit is comprised of a subordinated loan of $10 million and a risk sharing facility of up to $5 million. This intervention will promote local currency infrastructure financing, and further development of the domestic capital market. InfraCredit is...

African Development Bank Board approves $4.8 million grant to accelerate African free trade

10-Apr-2019 - On 1 April 2019, the Board of the African Development Bank approved an institutional support grant of $4.8 million to the African Union (AU) to accelerate the momentum of the African Continental Free Trade Area Agreement (AfCFTA), which received its 22nd ratification on 2 April, bringing the agreement into force. The AfCFTA is a major force for continental integration. It will expand intra-African trade by up to $35 billion per year and usher in freedom of movement for goods, services and people across the...

African Development Bank approves €12.5 million investment in Adiwale Fund 1 targeting Francophone West Africa

28-Mar-2019 - The Board of the African Development Bank has approved a €12.5 million equity investment in Adiwale Fund 1, a first-generation private equity fund targeting high growth potential Small and Medium Sized Enterprises ( SMEs)  in Francophone West Africa. With a target fund size of €75 million, the Fund will take minority stakes in SMEs that are well established in their markets, have competitive advantage and can rapidly scale up. The geographical focus of the Fund will be on a handful of countries where economic...

African Development Bank approves $20 Million facility for Green Mini-Grid Program in Democratic Republic of Congo

27-Mar-2019 - The African Development Bank Board has approved the allocation of $20 million in loans to the Democratic Republic of Congo, to support renewable-based, mini-grid solutions to the off-grid cities of Isiro, Bumba and Genema. The DR Congo Green Mini-Grid Program will serve as the pilot to an innovative private-led electrification approach to deploy renewable-based mini-grid solutions in the central African nation. The program will supply power to cities with sizeable populations, some of them with a few hundred...

African Development Bank approves $20 million investment in Uhuru Growth Fund, to build regional champions across West Africa

27-Mar-2019 - The African Development Bank has approved a US$20 million equity investment in Uhuru Growth Fund 1, a first-generation fund sponsored by Uhuru Partners Limited, a private equity firm, focused on high growth middle-market businesses across West Africa. Uhuru Partners Limited is composed of an experienced indigenous team with strong local networks, extensive knowledge of the West Africa market and a track-record of SME investments in the region.   The Bank’s equity support will enable Uhuru Partners to make...

First statutory meeting of the African Development Bank-Civil Committee

21-Jan-2019 - The African Development Bank - Civil Society Committee held its first statutory meeting at the Bank’s headquarters in Abidjan on 15-16 January, 2019. The committee is an advisory group set up by the Bank to strengthen links and collaboration with civil society in Africa, and is composed of 11 civil society organisations with proven expertise in at least one of the Bank's five major development priorities, known as the High 5s. The committee members also represent the continent's five sub-regions (North Africa,...

The African Legal Support Facility to receive € 5 million grant from the European Union

15-Jan-2019 - The European Commission has approved a grant of 5 million euros to the African Legal Support Facility, to finance the Facility’s Medium Term Strategy for the next five years. ALSF, hosted by the African Development Bank, to date has supported African countries to negotiate commercial deals worth more than US$60 billion in potential investments, mainly in the infrastructure and extractive sectors. This assistance from the European Union, will boost resources required to consolidate these achievements and...

African Development Bank approves US$14.12 million to support Nigeria’s membership in African Trade Insurance (ATI) Agency

08-Jan-2019 - The African Development Bank Group, through its Trade Finance operations, has approved a US$14.12 million facility to support the Federal Republic of Nigeria’s membership in the African Trade Insurance Agency (ATI). This is a critical and mandatory step to enable ATI commence its operations in Nigeria. Nigeria, as Africa’s largest economy, joins 14 other African countries that have already signed up to ATI membership. Once membership formalities in ATI are finalized, Nigeria could benefit from gross political...

Gabon : 40 millions d’euros de la Banque africaine de développement pour le nouveau terminal à marchandises du port d’Owendo

07-Jan-2019 - Point de passage obligé pour les importations et les exportations gabonaises, le GSEZ New Owendo International Port (NOIP), situé au sud de la capitale Libreville, est en pleine modernisation. Pour en assurer l’expansion, le Conseil d’administration de la Banque africaine de développement a approuvé, le vendredi 14 décembre 2018, un prêt de 40 millions d’euros en faveur du Gabon. Construit en un temps record de 18 mois et inauguré en 2017, le GSEZ NOIP est un terminal multimodal qui a ses propres services de...

African Development Fund Board approves US$149 million credit risk participations by the Private Sector Credit Enhancement Facility in seven private sector operations targeting low-income countries.

19-Dec-2018 - The Board of Directors of the African Development Fund (ADF), the concessional window of the African Development Bank Group, approved on 14 December 2018, credit risk participations by the Private Sector Credit Enhancement Facility (PSF) in seven loans cumulatively valued at US$149 million. Launched in 2015 by the ADF, the PSF provides credit risk participations in private sector operations of the African Development Bank in low-income countries, and is on its way to building a US$1.5 billion portfolio of...