Approvals

Displaying 101 - 150 of 971

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.

African Development Bank approves US$ 15 million Equity Investment to boost SME growth in West Africa

07-Sep-2018 - The Board of Directors of the African Development Bank has approved a US$ 15 million equity investment  in Verod Capital Growth Fund III, a private equity fund that will make investments in high growth middle market companies in Anglophone West Africa including Nigeria, Ghana, Liberia, Sierra Leone and the Gambia. The Fund’s investments will be in companies in consumer driven sectors including light industrials, fast moving consumer goods, education, financial services and agro processing. The ticket size for...

Equatorial Guinea: African Development Bank to support economic diversification and stronger public policies

06-Sep-2018 - The African Development Bank group has committed to support Equatorial Guinea’s economic diversification into agro-industry and a program of capacity building to foster public policies. The commitment followed the Bank Board’s approval of Equatorial Guinea’s Country Strategy Paper (CSP) for 2018-2022, in Abidjan on Wednesday, 5 August 2018. The 2018-2022 CSP provides the strategic orientation of the Bank’s support to the government’s efforts to diversify the economy.

Une prise de participation de 20 millions d'euros de la Banque africaine de développement pour faire émerger des multinationales africaines

20-Jul-2018 - Le Conseil d'administration du Groupe de la Banque africaine de développement a approuvé, vendredi 20 juillet 2018, une prise de participation de 20 millions d’euros dans le fonds d’investissement Maghreb Private Equity Fund IV (MPEF IV), d’AfricInvest.

Trade Finance: African Development Bank approves US$ 250-million Risk Participation Agreement with ABSA

20-Jul-2018 - The Board of Directors of the African Development Bank on Wednesday, 18 July  2018, approved an unfunded US$ 250-million Risk Participation Agreement with ABSA Bank Limited.  This Risk Participation Agreement housed within African Development Bank’s Trade Finance operations, will enhance African issuing banks’ ability to leverage trade financing through a multi-sectorial approach.

Cabo Verde: African Development Bank approves €20 million for private sector competitiveness & local economic development program

18-Jul-2018 - The Board of Directors of the African Development Bank has agreed to award to the Republic of Cabo Verde, a €20-million loan to finance the first phase of the country’s  Private Sector Competitiveness and Local Economic Development Program (PSC-LED). The objective of the program is to spur private sector and local entities to make greater contribution to growth and employment and to support the National Development Plan’s private sector- led development.

Namibia secures ZAR 3 billion budget support loan from African Development Bank

18-Jul-2018 - The Board of Directors of the African Development Bank has approved a loan of US$ 217.8 million (ZAR 3 billion) to finance the second phase of the Namibia’s  Economic Governance and Competitiveness Support Programme (EGCSP II). The loan facility,  second of a two-year programmatic series, will support the budget for the fiscal year 2018/19. It aims at strengthening  public financial management and improving the quality and efficiency of public sector spending, while laying a solid foundation for...

African Development Bank approves South Africa Country Strategy Paper

18-Jul-2018 - The African Development Bank has approved a string of measures aimed at supporting South Africa’s economic development ambitions as an upper Middle-Income Country. This support package is contained in the Bank’s Country Strategy Paper (CSP) 2018-2022 for South Africa, which will guide the Bank’s operations in the country during the next five years. The new plan builds on the previous CSP 2013 – 2017 and will advance hard regional infrastructure investments and soft mechanisms that deepen trade and regional...

Bank approves African Water Facility Plans for 2018

04-Jul-2018 - The Board of Directors of the African Development Bank has approved the work plan and budget of the African Water Facility (AWF) for 2018. The plan addresses past challenges and proposes solutions on the pressing issues of resource mobilization, filling vacancies, monitoring ongoing projects more closely and resolving issues more quickly, and strengthening the capacity of project implementing agencies.

SMEs promotion gains traction through FAPA funding

02-Jul-2018 - Leveling the playing field for Small and Medium-sized Enterprises (SMEs) in Africa is one of FAPA’s (Fund for African Private Sector Assistance) priority goals. To achieve this objective, FAPA donors have approved four projects worth US $3.9 million, bringing the total number of FAPA approved projects to seven and the cumulative grant amount to US $6.4 million since the beginning of this year.

African Development Bank approves Mozambique’s Country Strategy paper 2018-2022

27-Jun-2018 - Mozambique’s agriculture sector plays a paramount role in its economy, in particular from a rural growth perspective, given its large yet untapped potential for agro-business and agricultural value chains. The private sector also remains a critical player in the country’s development process. However, lack of infrastructure and support to agricultural transformation and value chain development have disadvantaged rural populations and the country’s agriculture potential.

African Development Bank invests in Sudan agribusiness

19-Jun-2018 - To boost agricultural production and productivity in the Sudan, the Bank approved US $42 million in concessional grants from the African Development Fund to support the National Agriculture Investment Plan. Mohamed Zaghloul, Executive Director representing Egypt and Djibouti, said, “The Bank’s support to the development of key agricultural value chains and market access is timely and will go a long way in helping Sudan in its efforts to revive its agriculture sector.”

Promoting food security: African Development Bank approves US$ 15m equity investment in Africa Food Security Fund to boost agri-business in Africa

13-Jun-2018 - In an effort to boost agri-business and enhance food security in Africa, the African Development Bank Board has approved a US$15 million equity investment in Africa Food Security Fund (AFSF), to support enterprises in agri-business SMEs and enhance food security in Africa

The African Development Bank and the Climate Investment Funds support their first private sector-led geothermal power plant in Kenya

08-Jun-2018 - The African Development Bank approved on June 6, 2018 a senior loan of US $29.5 million and a concessional loan of US $20 million from the Climate Investment Funds (CIF) Clean Technology Fund (CTF) to Quantum Power East Africa GT Menengai Ltd.

Stimulating Africa’s bond markets: African Development Bank approves US $10-million equity investment in Financial Sector Deepening Fund

08-Jun-2018 - To strengthen the capital base of local financial institutions and stimulate Africa’s corporate bond market, the African Development Bank has approved a US $10-million investment through its private-sector window in the Africa Financial Sector Deepening Fund being managed by Adventis Ltd as the fund manager. The Fund seeks to raise US $100 million by the first closing and US $200 million by the second closing and to invest over 10 years to address the growing demand among local financial institutions for Tier 2...

African Development Bank promotes better access to mortgage finance in Ghana

06-Jun-2018 - The African Development Bank approved a US $15-million senior loan to GHL Bank PLC, which focuses on mortgage finance, to enhance its mortgage loan portfolio and help develop an effective affordable mortgage finance sector in Ghana.

African Development Bank supports agricultural value chain development to improve household incomes and food security in the Sudan

06-Jun-2018 - To boost agricultural production and productivity in the Sudan, the Bank approved US $42 million in concessional grants from the African Development Fund to support the National Agriculture Investment Plan.   Mohamed Zaghloul, Executive Director representing Egypt and Djibouti, said, “The Bank’s support to the development of key agricultural value chains and market access is timely and will go a long way in helping Sudan in its efforts to revive its agriculture sector.”

African Development Bank and Republic of Korea to strengthen cooperation through Korea-Africa Tech Corps Program

31-May-2018 - The African Development Bank and the Republic of Korea have signed a cooperation agreement to enhance joint efforts to provide additional technical assistance to the Bank’s Regional Member Countries through the Korea-Africa Tech Corp Program.

Korea announces $5-billion financial package for Africa at African Development Bank Annual Meetings

23-May-2018 - The Government of Korea and the African Development Bank have issued a Joint Declaration following the conclusion of the Ministerial Roundtable of the Korea-Africa Economic Cooperation (KOAFEC) Conference taking place during the African Development Bank’s 53rd Annual Meetings in which Korea announced a $5-billion bilateral financial assistance package for Africa.

Mali : la Banque africaine de développement accorde un prêt de 8 millions d’euros pour soutenir le commerce

17-May-2018 - C’est une bonne nouvelle pour le commerce au Mali, mais surtout pour les petites et moyennes entreprises : le Conseil d'administration de la Banque africaine de développement a approuvé, le 16 Mai 2018 à Abidjan, en Côte d’Ivoire, une ligne de crédit de 8 millions d’euros en faveur de la Banque sahélo-saharienne pour l’investissement et le commerce au Mali (BSIC-Mali). Celle-ci devrait profiter de cette ligne de crédit pour renforcer ses efforts de financement au profit des petites et moyennes...

Nigeria: African Development Bank approves US$100 million for expansion of fertilizer production

17-May-2018 - The African Development Bank has approved US$100 million senior loan to Nigerian firm, Indorama Eleme Fertilizer & Chemicals Limited, to support the company’s plans to double its fertilizer production from 1.4 million tons of urea to 2.8 million tons per annum.

EUR 200 million to develop Morocco’s agricultural value chains and reinforce sustainable job creation

16-May-2018 - The Board of Directors of the African Development Bank has approved EUR 200 million loan to support inclusive and Sustainable Development of Agricultural Value Chains in Morocco. This operation will support the creation of jobs in rural areas by developing inclusive value chains that will Increase the sustainability and effectiveness of jobs created through green governance and water resource management. It will also finance the implementation of agriculture, environment, employment and vocational training...

African Development Bank approves US$20 million facility to boost lending to SMEs in Liberia

16-May-2018 - The African Development Bank has approved US$ 20 million facility to boost lending to small and medium-sized enterprises in Liberia. The loan, approved by the Board of Directors of the Bank on Wednesday, May 16, 2018, is a trade finance package for three Liberian commercial banks: Liberian Bank for Development and Investment (LBDI); International Bank of (Liberia) Limited (IBL) and Afriland First Bank Liberia Limited.

African Development Bank approves US $1.5 million for Jigawa on-grid IPP solar power procurement program

09-May-2018 - The Board of Directors of the African Development Bank has approved a US $1.5-million grant from the Sustainable Energy Fund for Africa (SEFA) to support the Nigerian Government’s implementation of Phase 1 of the Jigawa 1-GW Independent Power Producer (IPP) Solar Procurement Program.

African Development Bank approves US $1.5 million for Jigiwa on-grid IPP solar power procurement program

09-May-2018 - The Board of Directors of the African Development Bank has approved a US $1.5-million grant from the Sustainable Energy Fund for Africa (SEFA) to support the Nigerian Government’s implementation of Phase 1 of the Jigawa 1-GW Independent Power Producer (IPP) Solar Procurement Program.

Commerce intra-africain : la Banque africaine de développement et la banque centrale populaire signent un accord de 100 millions de dollars

08-May-2018 - La Banque africaine de développement et la Banque centrale populaire du Maroc ont signé, le mardi 8 mai 2018, un accord de participation aux risques (APR) d’un montant de 100 millions de dollars américains. Ce programme de partage des risques, une première dans le secteur bancaire marocain, devrait permettre d’atteindre un volume de transactions de quelque 700 millions de dollars dans les trois ans.

The Board of Directors approves a Mutual reliance for procurement in joint co-financed public sector operations between African Development Bank and European Investment Bank

30-Apr-2018 - The Board of Directors of the African Development Bank (AfDB) has affirmed cognizance of the strategic role of sustainable procurement and governance and has approved the Policy paper entitled: Mutual Reliance for procurement in joint co-financed public sector operations between African Development Bank and European Investment Bank.

Fund for African Private Sector Assistance approves three projects to spur SME development in Africa

06-Apr-2018 - Donors to the Fund for African Private Sector Assistance (FAPA) – consisting of the African Development Bank, the Government of Japan and the Government of Austria – have approved three catalytic projects totaling US $2,480,000 to stimulate the growth of Africa’s small and medium enterprises. These grants will help strengthen the participation of Africa’s SMEs in financial markets and the agriculture sector.

African Development Bank approves a US $50-million Risk Participation Agreement for Commerzbank AG to address Africa’s trade finance market demand

05-Apr-2018 - The Board of Directors of the African Development Bank has approved a US $50-million unfunded Risk Participation Agreement for Commerzbank AG (Commerzbank). The Risk Participation will leverage Commerzbank support to African issuing banks seeking to expand their trade finance operations. The facility will help address trade finance market demand in key economic sectors such as agriculture and manufacturing. It will also foster financial sector development, regional integration and boost government revenue...

AfDB bolsters efforts to flight cholera and flooding in Accra

31-Mar-2018 - Low-income residents of the Ghanaian capital, Accra suffering from frequent cholera and flooding will soon experience some relief. The Board of Directors of the African Development Fund (ADF) on Tuesday, March 29, 2017 approved a loan of approximately US $ 49 million to the Government of Ghana to increase access to safe and sustainable sanitation and facilitate income generation support for urban and peri-urban poor residents of the Greater Accra Metropolitan Area (GAMA).

The African Development Bank obtains US$ 52.5 million Green Climate Fund for Zambia Renewable Energy

07-Mar-2018 - At its 19th Board Meeting in Songdo, South Korea, the Board of the Green Climate Fund (GCF) has approved the first funding proposal of the African Development Bank for Zambia’s Renewable Energy Financing Framework. The GCF will provide a US$ 50 million loan and a US$ 2.5 million grant

African Development Bank Board approves Records Management Policy

07-Mar-2018 - The Board of Directors of the African Development Bank approved the institution’s Records Management and Archives Policy on Wednesday, February 28, 2018. The policy is based on reviews of frameworks and best practices on records management from the other development banks. The policy builds on the Bank’s Disclosure and Access to Information Policy (2013) and its Digital Strategy 2017-2020, including the provisions and safeguards of digital security of records from creation until disposal.

African Development Bank approves US $100-million Trade Finance Facility in Angola

06-Mar-2018 - The Board of Directors of the African Development Bank has approved a US $100-million Trade Finance Line of Credit to Angola’s Investment Bank (Banco Angolano de Investimentos, BAI). The funding will support international trade transactions of small and medium enterprises (SMEs) and local corporates in identified transformative sectors in Angola.

African Development Bank supports Gabon's Optic Fiber Backbone Project

23-Feb-2018 - The African Development Bank  and the Gabonese National Agency for Numerical Infrastructure and Frequency (ANINF) have signed agreements a feasibility study for the country’s component of the Central African Backbone (CAB) project. The project is an integrated, innovative and transformative infrastructure which consist of completing the 901.8 km fiber optic connectivity to cover 14 missing links on the Gabonese national backbone. 

African Development Bank Board Approves Rockefeller Foundation Trust Fund with initial US$ 3 million to support the High 5s

21-Feb-2018 - The Board of Directors of the African Development Bank Group has approved the establishment of a Rockefeller Trust Fund to be hosted by the Bank. With an initial endowment of US$ 3 million dollars, the Fund will support the Bank’s activities, particularly with regards to two of its five high priorities – Feed Africa and improve the quality of life for the People of Africa.  Subsequent contributions may also be received to support other areas of the High 5s.

NEPAD-IPPF supports African countries to strengthen regional infrastructure: Approves eight projects for US $14.83 million in 2016

09-Feb-2018 - The New Partnership for Africa’s Development Infrastructure Project Preparation Facility (NEPAD-IPPF) has continued to support African countries to strengthen regional infrastructure connectivity by providing grants for project preparation and development for complex, cross-border regional infrastructure projects in energy, transport, ICT and trans-boundary water.

African Development Bank approves ZAR 140-million loan to support African Local Currency Bond Fund

05-Feb-2018 - The Board of the African Development Bank has approved a ZAR 140-million loan (about US $10 million) to the African Local Currency Bond Fund (ALCB Fund), to further enhance the Fund’s portfolio and promote the development of domestic capital markets across the continent. The senior loan with a seven-year tenor including a two-year grace period, will support opportunities for local African corporate issuers to access and diversify their long-term funding sources in local currency and crowd in local institutional...

Les administrateurs du Groupe de la Banque africaine de développement renouvellent leur appui aux efforts de la Tunisie

02-Feb-2018 - En mission de consultation en Tunisie, une délégation du Conseil d’administration du Groupe de la Banque africaine de développement a salué, vendredi 2 février 2018, à Tunis, la dynamique de développement engagée par les autorités tunisiennes, à l’issue d’une rencontre avec le chef du gouvernement, Youssef Chahed. La délégation d’administrateurs a saisi l’occasion pour échanger avec le Premier ministre Youssef Chahed sur les priorités actuelles du gouvernement et passer en revue les divers volets de la...

“African Development Bank’s lifeline lifted Nigeria out of recession”: Buhari

19-Jan-2018 - The African Development Bank provided a much-needed lifeline at a time when it was very difficult to secure budget support loans from anywhere else, as the country struggled with the 2015-2016 economic recession, the Nigerian Government has said.

Angola and the African Development Bank sign USD 101 million to support agricultural value chains development in Cabinda Province

18-Jan-2018 - The African Development Bank is fully engaged in ensuring efficient and sustainable agricultural production projects in its regional member countries. This can drive economic growth and poverty reduction as well as fulfil both domestic and global demand for agricultural products.

La Banque africaine de développement débloque 16,68 millions d’euros pour le Projet dorsale à fibre optique d’Afrique Centrale

18-Jan-2018 - Le Groupe de la Banque africaine de développement (BAD) va œuvrer à la réalisation d’un système, en vue d’interconnecter par la fibre optique, la République centrafricaine, le Cameroun et le Congo.

African Development Bank approves US $500-million third and final tranche budget support loan for governance reforms in Egypt

17-Jan-2018 - The Board of Directors of the African Development Bank has approved a US $500-million loan to finance Egypt’s Economic Governance and Energy Support Program Phase III. This is the last in a series of three annual loans worth a total of US $1.5 billion covering the fiscal years 2015-2016 to 2017-2018 for the Economic Governance and Energy Support Program Based Operation.

Le Niger obtient 43 millions de dollars de la Banque africaine de développement sous forme d’une aide budgétaire

11-Jan-2018 - « C’est dans les moments les plus difficiles qu’on doit pouvoir compter sur ses vrais amis ».  Au seuil de la nouvelle année 2018, cette sagesse populaire prend toute son sens pour le Niger qui va bénéficier d’un don de 30 millions d’UC, l’équivalent de 43 millions de dollars américains (EU) de la part de la Banque africaine de développement.

Le Fonds des énergies durables pour l’Afrique soutient la promotion des mini-réseaux verts en République Démocratique du Congo

09-Jan-2018 - La République Démocratique du Congo (RDC) a bénéficié le 30 novembre d’une subvention de 994 270 dollars EU du Fonds des énergies durables pour l’Afrique (SEFA) pour promouvoir les projets de mini-réseaux verts (dit GMG en Anglais) et faciliter les investissements privés dans ce sous-secteur.

African Development Bank, Nordic Development Fund, Global Environment Facility and Calvert Impact Capital partner in US $55-million investment into Off-Grid Energy Access Fund

04-Jan-2018 - On December 15, the African Development Bank’s Board approved a US $30-million investment in the Facility for Energy Inclusion Off-Grid Energy Access Fund (“FEI OGEF”).

Au Togo, la Banque africaine de développement appuie la promotion de l’agrobusiness pour 7,47 milliards de FCFA

04-Jan-2018 - Le Groupe de la  Banque africaine de développement (BAD) a accordé au Togo, un appui budgétaire au titre d’un don du Fonds africain de développement (FAD) d’un montant de 2,32 millions d’UC (1,82 milliards de FCFA)  et un autre au titre de la Facilité d’appui à la transition (FAT) d’un montant de 7,21 millions d’UC (5,65 milliards de FCFA). Au total 9,53 millions d’UC, soit environ 7,47 milliards de FCFA sont octroyés au titre du Programme d’Appui à la Promotion de l’Agrobusiness (PAGPA).

African Development Bank Board approves third sovereign lending instrument

28-Dec-2017 - On November 28, 2017, the  Board of Directors of the African Development Bank Group (AfDB) approved the Bank’s third sovereign lending instrument called the Results-Based Financing (RBF) Policy. RBF will be the Bank’s third financing instrument to complement the two existing instruments, namely, investment lending and program-based operations (PBOs). RBF is an additional, innovative, financing instrument that supports government-owned programs and links disbursements directly to the achievement of program...

Sustainable Energy Fund for Africa improves waste-to-energy electricity in Kenya with US $1 million grant

21-Dec-2017 - The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank, has approved a grant of US $ 995,000 to Asticom Kenya Ltd., to support the construction of a 10 megawatt (MW) grid-connected municipal waste-to-energy (WTE) plant.