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AfDB Funds Conakry Electricity Network Rehabilitation and Extension Project
13-Sep-2013 - The African Development Bank (AfDB) Group will support Guinea’s Conakry Electricity Network Rehabilitation and Extension Project (PREREC2) with a loan and a grant totaling US $16.66 million approved by its Board on Wednesday, September 11, 2013 in Tunis.
French Development Agency and AfDB to strengthen cooperation through concrete projects
13-Sep-2013 - The African Development Bank (AfDB) and the French Development Agency (AFD) signed an Exchange of Letters on September 13, 2013, in Tunis. The Exchange of Letters was signed by the AfDB President, Donald Kaberuka, and the AFD Director General, Anne Paugam. The AfDB Executive Director for France, Belgium and Spain, François Kruger, was in attendance.Tanzania Poised to Transform National Energy Sector with Influx of Renewables
12-Sep-2013 - On September 12, the United Republic of Tanzania received endorsement from the Climate Investment Funds (CIF) of an investment plan which will help the country to scale-up the development of its abundant renewable energy resources.AfDB Approves US $21.50 Million funding for Climate Change Mitigation Project in DRC
12-Sep-2013 - The Board of Directors of the African Development Bank (AfDB) Group on Wednesday, September 11, 2013 in Tunis approved a US $21.50-million Forest Investment Program (FIP) grant to finance climate change mitigation activities in the Democratic ReAfDB extends US $150 million to Mauritius Commercial Bank to enhance lending to African businesses
11-Sep-2013 - The Board of Directors of the African Development Bank (AfDB) approved on Wednesday, September 11 a financing package consisting of US $120 million multi-sector line of credit (LOC) and US $30 million subordinated debt to The Mauritius Commercial Bank (MCB). This financing package will allow MCB to increase its foreign currency lending to medium- and large-sized enterprises operating in Mauritius, neighbouring countries and mainland Africa, thereby enhancing sustainable and inclusive growth through private sector development in the region.
President of Liberia and President of AfDB set new course for prosperity in Africa’s fragile states
09-Sep-2013 - Ellen Johnson Sirleaf, President of Liberia, and Donald Kaberuka, President of the African Development Bank Group, launched a special high-level panel on fragile states in Monrovia on September 2,2013.AfDB and Nomura Announce Sales of Education Support Notes
06-Sep-2013 - The African Development Bank (AfDB), a leading multilateral development bank, rated Aaa/AAA/AAA, and Nomura, Asia’s global investment bank, on Friday, September 6 finalized the terms of secondary distribution of AfDB’s education support notes to Japanese retail investors. The notes are denominated in Brazilian Real and have a three-year tenor. This is the first transaction the two organizations have collaborated together in this field. Education support notes issued by AfDB are underwritten by Nomura and distributed through Nomura’s nationwide...AfDB Support to Senegal’s Efforts to Protect Lake Guiers
05-Sep-2013 - The African Development Bank Group (AfDB) is supporting Senegal’s efforts to protect Lake Guiers in the northern part of the country with a loan and a grant totaling US $24.42 million (UA 15.86 million) to finance restoration of the lake. The Project to Restore the Ecological and Economic Functions of Lake Guiers (PREFELAG), approved by the AfDB Group’s Board on Wednesday, September 4, 2013 in Tunis, seeks to reinstate optimal conditions for normal functioning of the lake.Norway Empowers African Legal Support Facility with US $4.9 Million
02-Sep-2013 - Norway is supporting the African Development Bank’s African Legal Support Facility (ALSF) with a contribution of NOK 30 million (approximately US $4.9 million), as a core contribution towards the ALSF 2013-2014 work program. The President of the African Development Bank Group (AfDB), Donald Kaberuka, and Norway’s Minister of International Development, Heikki Eidsvoll Holmås, signed the agreement for the support in Oslo on Thursday, August 29, 2013.AfDB Approves a US $15 Million Equity Investment to Boost African Financial Markets
02-Sep-2013 - The Board of Directors of the African Development Bank (AfDB) approved on Wednesday, September 4 an equity investment of up to US $15 million to the Enko Africa Private Equity Fund (EAPEF). The Fund aims to invest in mid-size companies registered in Africa and exhibiting a strong potential for successful listing on one or many African stock markets.Democratic Republic of Congo gets $21.5 million green light to transform its vast forests
30-Aug-2013 - The Democratic Republic of Congo (DRC) has won approval of a $21.5 million grant from the Climate Investment Funds (CIF) to jump-start sustainable management of its critically important forest sector to reduce greenhouse gas (GHG) emissions and strengthen forest governance.
AfDB boosting geothermal development in East Africa: Geothermal Exploration Project in Lake Assal Region Launched
28-Aug-2013 - The African Development Bank (AfDB) and the Government of Djibouti on Monday, August 26, signed the funding agreements, totalling US $7.5 million, for a geothermal exploration project in the region of Lake Assal. “The exploitation of geothermal potential in the Lake Assal region will enable the Djiboutian population to access reliable, renewable and affordable source of energy,” said AfDB’s Regional Integration Director Alex Rugamba, on behalf of Gilbert Mbesherubusa, Vice-President, Infrastructure, Private Sector and Regional Integration,...
AfDB, AUC Sign US $45 Million Grant Agreement to Boost Pan African University
23-Aug-2013 - The African Development Bank (AfDB) and the African Union Commission (AUC) have signed a grant agreement worth US $45 million to boost the Pan African University. This grant from AfDB Group’s concessional window, the African Development Fund, will help the African Union establish the Pan African University with a view to enhancing Africa’s competitiveness and growth through the creation of high quality higher education and research capabilities.
AfDB’s Integrity and Anti-Corruption Department Submits First Set of Reports in New Sanctions Regime
20-Aug-2013 - The Director of the Integrity and Anti-Corruption DepartmentIntegrity and Anti-Corruption (IACD), Ms. Anna Bossman, today in Tunis, formally handed over four reports (Findings of Sanctionable Practices) to the Sanctions Commissioner under the new sanctions regime. As Sanctions Commissioner, Maitre Akere T.BAD-Burundi : Lancement du Programme de renforcement des capacités de l’administration
14-Aug-2013 - Les activités du Programme de renforcement des capacités de l’administration (PRECA) ont officiellement été lancées le 12 août dernier à Bujumbura au Burundi, sous le parrainage du deuxième vice-président de la République, Gervais Rufyikiri, et sous la présidence effective du ministre des Finances et de la Planification du développement économique, Tabou Abdallah Manirakiza, ainsi que de la ministre de la Fonction publique, du Travail et de la Sécurité sociale, Annonciate Sendazirasa.BAD-Burundi : Lancement du Projet d’aménagement des bassins versants et d’amélioration de la résilience climatique
14-Aug-2013 - Les activités du Projet d’aménagement des bassins versants et d’amélioration de la résilience climatique (PABVARC) ont été officiellement lancées le 9 août dernier au Burundi, au siège du projet, à Mahwa, dans le centre du pays.AfDB Approves US$45 Million Grant for Creation of Pan African University for Science, Technology and Innovation
25-Jul-2013 - The African Development Bank’s (AfDB) Board of Executive Directors approved on Wednesday, July 24 an African Development Fund (ADF) grant of US$ 45 million to support the creation of a Pan African University (PAU).AfDB Approves a US $50-million Risk Participation Agreement with Citibank NA to Boost Trade Finance in Africa
25-Jul-2013 - The Board of Directors of the African Development Bank (AfDB) approved on Wednesday, July 24, an unfunded US $50-million Risk Participation Agreement (RPA) between the AfDB and Citibank NA (Citi) 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...AfDB enhances access to reliable and affordable electricity supply in Côte d’Ivoire
25-Jul-2013 - The Board of Directors of the African Development Bank (AfDB) approved on Wednesday, July 24, a senior loan of up to 50 million euros to finance the CIPREL Power Expansion Project to increase the existing plant capacity by 222 MW and thereby help Côte d’Ivoire to meet its growing energy needs through the provision of reliable and affordable electricity supply while also reducing the environmental footprint associated with electricity generation.