Loans & Grants
19/10/2016 - The Board of Directors of the African Development Bank (AfDB) Group has approved an eight-year US $40-million corporate loan to the Afe Babalola University (ABUAD) in Ado Ekiti (Nigeria), to finance part of the university’s expansion plan. The project will make ABUAD a centre of excellence for tertiary education in Africa, expanding access to high-quality education to over 10,000 students per year.
18/12/2014 - On December 17, 2014, the Board of Directors of the African Development Bank (AfDB) Group approved a series of loans to Lake Chad Basin countries to be disbursed through its African Development Fund (AFD). The funds granted are US $18.30 million for Cameroon, US $29.94 million for Nigeria, US $19.52 million for Niger, US $3.21 million for the Central African Republic and US $7.83 million for Chad.
15/12/2014 - On Monday, December 15, 2014, the Board of Directors of the African Development Bank (AfDB) Group unanimously approved a financial package of US $500 million to support the establishment of the Development Bank of Nigeria PLC (DBN).
10/12/2014 - The Sustainable Energy Fund for Africa (SEFA) approved a US $580,000 preparation grant for the expansion of Green Energy & Biofuels (GEB) Bio-refinery project in Nigeria. The project is a pilot of Small & Medium Entrepreneurship Fundamentals (SMEFunds), a social enterprise based in Lagos, and the first bio-energy cooking fuel production facility and distribution network in Nigeria.
27/08/2014 - The President of the African Development Bank Group (AfDB), Donald Kaberuka, and the World Health Organization (WHO) Regional Director for Africa, Dr. Luis Sambo, on Tuesday, August 26 signed a Memorandum of Understanding (MoU) cementing a US $60 million Bank grant to help strengthen West Africa’s public health systems in response to the Ebola crisis.
19/08/2014 - The African Development Bank Group (AfDB) on Monday, August 18 in Abidjan, approved a US $60 million grant investment for immediate implementation to help strengthen West Africa’s public health systems in response to the Ebola crisis.
17/06/2014 - The Board of Directors of the African Development Bank (AfDB) approved on 13 June 2014 a loan of USD 300 million to Dangote Industries Limited for the construction and operation of a greenfield crude oil refinery and a greenfield fertilizer manufacturing plant.
28/05/2014 - Snamprogetti Netherlands B.V. admits to corrupt practices from 1995 until 2004 by affiliated companies in relation to the award of AfDB-financed services contracts for liquefied natural gas production plants on Bonny Island, Nigeria.
23/05/2014 - The Export-Import Bank of India (Exim Bank) and Nigeria signed a US $100-million line of credit agreement on May 22, for the financing of three energy projects in the provision of electricity transformers to solar electrification in rural areas.