Approvals

Displaying 37 - 48 of 944

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). The Kopere project, which falls under Kenya’s Renewable Energy Feed-in-Tariff (FiT) policy, encompasses the design,...

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...

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.  It is estimated that the facility, when fully utilized,...

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. The Manzini region is the most populous region in eSwatini, but it is beset by inadequate water supply and poor sanitation services. Only 22% of the population receive reliable water...

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. Located about 85km from Dakar, the project will help the Government of Senegal increase the base load needed to strengthen grid stability, and facilitate addition of more renewables...

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. The loan for the 365 km Ring Road is the Bank’s third...

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. The additional investment will also help strengthen and...

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. Le principal objectif assigné au nouveau DSP est de renforcer la résilience et d’accélérer la croissance de l’économie nigérienne en vue d’...

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. The project aims at strengthening regional integration and trade in the East African Community, particularly between Tanzania and Burundi through improved cross-border transport and is part of the East African roads network  linking the Port of Dar es Salaam to the regional markets in...

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. The Basic Services Transformation Programme Supplementary Financing (BSTP-SF) will be for the fiscal years 2018/19 to 2019/20. The proposed support is consistent with the Ethiopian government’s Growth and Transformation Plan II (GTP II) 2015/16 – 2019/20), with...

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). AIIM is one of Africa’s most experienced infrastructure fund managers. The Fund will focus on acquiring positions of significant influence in roads, airports, rail links, bridges, ports, logistics, power generation, utility...

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...