The 2019 Annual Meetings of the African Development Bank Group will be held from 11-14 June 2019, in Malabo, Republic of Equatorial Guinea. Find out more
21/02/2019 - Today, Dr. Sahar Nasr, Minister of Investment and International Cooperation, and Dr. Khaled Abdel-Ghaffar, Minister of Higher Education and Scientific Research, commended the African Development Bank for the strategic partnership behind Egypt’s economic transformation since the 2011 revolution. The two Ministers spoke at a joint press conference with the Bank at the signing of a grant agreement and the official release of the Bank’s 2018 Country Results Brief on Egypt.
17/01/2018 - 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 $1.5 billion covering the fiscal years 2015-2016 to 2017-2018 for the Economic Governance and Energy Support Program Based Operation.
21/12/2017 - In support of the Egyptian Government’s efforts to ensure safe living conditions, the African Development Bank has approved financing amounting to US$ 150 million for the expansion of the essential waste-water treatment plant at Abu Rawash in the Giza Governorate. The funding targets a total treatment capacity of 1.6 million m3/day, intended to benefit over eight million people.
19/12/2016 - The African Development Bank, on 19th December 2016, signed a loan of US$ 500 million to finance the Egypt Economic Governance and Energy Support Program Phase II. The loan, which was approved by the Bank’s Board of Executive Directors on 13th December 2016, is the second tranche of a three year, US$ 1.5 billion programmatic series, covering the fiscal years 2015/16 to 2017/18 (July-June). It builds on the first phase of the operation, a US$ 500 million loan that was approved in December 2015 and was fully disbursed in early January 2016.
15/12/2016 - The Board of Directors of the African Development Bank (AfDB), has approved a loan of US$ 500 million to finance Egypt’s economic governance and energy support program phase II. The loan is the second tranche of a three year, US$ 1.5 billion programmatic series, covering the fiscal years 2015/16 to 2017/18 (July-June). It builds on the first phase of the operation, a US$ 500 million loan that was approved in December 2015 and was fully disbursed in early January 2016.
17/06/2015 - The African Development Bank (AfDB) will support Egypt’s National Drainage programme (NDP) to boost agricultural production and household income generation with a €50.20 million loan approved by AfDB Board on Wednesday, May 17 in Abidjan.
27/11/2014 - The Board of Directors of the African Development Bank (AfDB) has recently agreed to revise the financing plan for the ongoing Suez Thermal Power Plant Project. The move will allow the Government of Egypt to leverage Bank financing to cover part of the local costs of constructing a 650 MW steam cycle power plant at a site located in the vicinity of Suez city, approximately 150 kilometres east of Cairo.
24/04/2014 - The Board of Directors of the African Development Bank (AfDB) approved on Wednesday, April 23, 2014 an unfunded US $50 million Risk Participation Agreement (RPA) with Commercial International Bank (Egypt) S.A.E. (CIB) to support trade transactions originated by issuing banks in Africa. The facility will help address critical market demand for trade finance in Africa by providing support for trade in vital economic sectors such as agribusiness and manufacturing. Moreover, it will foster financial sector development and regional integration, and contribute to government revenue generation.
07/04/2014 - The African Development Bank Group has approved a policy document on the Accelerated Repayment and Voluntary Prepayment of ADF Loans. Under the policy approved by the African Development Fund (ADF) Board in Tunis on Wednesday, April 2, 2014, the Fund will introduce an accelerated-repayment clause in all new loan agreements starting in ADF-13, and establish a framework for the voluntary prepayment of ADF loans.
19/12/2013 - The African Development Bank Group (AfDB) and the Egyptian Ministry of International Cooperation on Thursday, December 19 in Cairo, Egypt, signed off on a grant for US $2 million to finance the Green Growth Industrial Waste Management and SME Entrepreneurship initiative. The grant comes from the Middle East and North Africa Transition Fund, under the umbrella of support provided by the Deauville Partnership to Egypt.