Loans & Grants

AfDB Signs Financing Agreements with its Regional Member Countries

15-May-2008 - Maputo, Mozambique, 15 May 2008 – Highlights of the 2008 meetings include the admission of Turkey as the 26th Non-regional member of the Bank Group, the signing of an agreement extending the Nigerian Trust Fund (NTF), the second concessional loan window Group. The Board of Governors (finance and/or economy ministers) representing 78 member countries of the Bank Group also considered and endorsed ongoing reforms at the institution and the Bank’s preliminary response to the recommendations of an Independent High Level Panel set up to reflect on...

Approval of an ADF Grant for the Inga Hydro-Electric Project

30-Apr-2008 - The Board of Directors of the African Development Fund (ADF), a member of the African Development Bank (ADB) Group, on Wednesday in Tunis approved a grant of 9,510,000 Units of Account (UA), which is equivalent to about 15.7 million dollars, to finance a study on the development of the Inga hydro-electric site and related interconnections in the Democratic Republic of Congo (DRC).

AfDB, Cape Verde Sign Electricity Project Loan Agreement

16-Apr-2008 - The Bank Group and Cape Verde signed on Thursday, in Praia, an agreement for an ADF loan of 4.82 million Units of Account* (UA) to help finance an electricity production and transmission project on Santiago Island. The AfDB Resident Representative in Senegal, Mohamed H’Midouche, signed on behalf of the African Development Fund, the soft loan arm of the African Development Bank Group, while the Minister of Economy, Growth and Competitiveness, Jose Brito, signed for his country.

Supplementary loan for Ain Beni Mathar Thermo-solar Station

07-Apr-2008 - Rabat, 7 April 2008 – The African Development Bank (AfDB) Vice President for Finance, Thierry de Longuemar, Morocco’s Economy and Finance Minister, Salaheddine Mezouar and the Director General of the country’s National Electricity Corporation (ONE), Younes Maamar, have agreed to proceed with the signing of a supplementary loan and project guarantee agreement for the Ain Beni Mathar power station in Morocco.

Ghana, Tanzania and AfDB Sign US$ 153 Million in Loans and Grants for Energy and Poverty Reduction

07-Mar-2008 - Tunis, 7 March 2008 – The Governments of Ghana and Tanzania this week signed loans and grants of a combined amount of US$ 98.8 million to finance energy projects, underscoring the African Development Bank Group’s renewed emphasis on infrastructure development and poverty reduction in its Regional Member Countries (RMCs). The loans were signed by AfDB Group Vice President for infrastructure private sector and regional integration, Mandla Gantsho, and the Ghanaian Ambassador to Tunisia, Lawrence Satuh.

AfDB Helps Boost Ghana’s Energy Sector

04-Mar-2008 - The African Development Bank (AfDB) Group and the government of Ghana on Tuesday in Tunis signed a loan agreement of UA 27.6 million, equivalent to US$ 44 million, to finance the power systems reinforcement project. The objective of the project is to help the country reduce electricity losses, improve the reliability of power supply and expand access to electricity for people living in the Kumasi area.

AfDB and Cameroon Sign US$ 76.6 Million Transport Facilitation Project Loan

22-Feb-2008 - Tunis, 22 February 2007 – The African Development Bank (AfDB) Group and Cameroon signed an agreement for a loan of 48 million Units of Account (UA*), equivalent to US$ 76.57 million (FCFA 36 billion) to finance the Douala-Bangui and Douala Ndjamena road corridor, linking Cameroon, the Central African Republic (CAR) and Chad.

AfDB offers Financial Assistance to the West African Development Bank (BOAD)

30-Jan-2008 - Tunis, 30 January 2008 - The Board of Directors of the African Development Bank (AfDB) approved on Wednesday in Tunis, a capital subscription of Euro 3.05 million and a Line of Credit (LOC) of Euro 40 million to the West African Development Bank (BOAD). BOAD is a regional financial institution which provides financing for the economic development of the West African Economic and Monetary Union (WAEMU) member states by diversifying its sources of finance.

Ghana: AfDB Approves US$ 16 Million Private Sector Loan to Finance Kempinski Accra Hotel

21-Jan-2008 - Tunis, 23 January 2008 – The Board of Directors of the African Development Bank (AfDB) approved on Wednesday in Tunis, a loan of US$ 16 million to finance the construction of Kempinski Accra Hotel in Ghana. The project is in line with the newly approved private sector operations strategy which aims to promote catalytic transactions with a strong demonstration effect and positive impacts on Small and Medium Enterprises (SMEs).