Loans & Grants
08/01/2019 - The African Development Bank Group, through its Trade Finance operations, has approved a US$14.12 million facility to support the Federal Republic of Nigeria’s membership in the African Trade Insurance Agency (ATI). This is a critical and mandatory step to enable ATI commence its operations in Nigeria. Nigeria, as Africa’s largest economy, joins 14 other African countries that have already signed up to ATI membership.
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.