ADB signs Loan agreement with SAMIR to Reduce Air Pollution in Morocco

Paris, 3 December 2005 – Mr. Roger Gaillard, Manager for the Infrastructure and Private-Public Partenrships Division of the Private Sector Department of the African Development Bank (ADB) and Moroccan officials signed today a loan agreement of US $ 85 million relating to the environmental upgrading of "Société Anonyme Marocaine de l’Industrie du Raffinage – SAMIR". SAMIR is the main supplier of refined petroleum products on the Moroccan market covering more than 90 % of market needs.

African Development Fund Earmarks Support for Needy Zambian Children

The African Development Bank Group has decided to assist the government in its efforts to find a solution to this problem with a loan and a grant of 13.66 million Units of Account (UA*) equivalent to 20.06 million US dollars.

The Board of Directors of the African Development Fund (ADF), the concessional window of the ADB, approved in Tunis on Wednesday, the loan of 9.77 million UA, equivalent to 14.35 million US dollars and the grant of 3.89 million UA, equivalent to 5.71 million US dollars to finance the child welfare project.

ADB, Egypt Sign 176 Mln € Loan Agreement to Finance Energy Sector

Tunis, 18 October 2005 - The African Development Bank Group on Tuesday in Tunis signed an agreement for a loan of 154.3 million Units of Account* (175.9 million Euro) to finance the El Kureimat Combined Cycle Power Plant Project (Module II) in Egypt.

The agreement was signed by the ADB Vice President in charge of North, East and South Operations, Mr. Theodore Nkodo and the Egyptian Ambassador to Tunisia, Mrs. Shadya Farrag.

Ethiopia Reaches Completion Point in HIPC Initiative: Obtains major debt relief from the AfDB

The Bank will, as a result, provide irrevocable debt relief of US$ 339.5 million in net present value (NPV) terms to the country. Ethiopia will be released from up to 80 percent of annual debt service to the Bank Group until the entire amount is delivered. In practical terms, its 2004 debt service obligations, for example, will fall from about US$ 41.33 million to about US$ 11.28 million.

To reach completion point, the government had to fulfill three key conditions:

- Completion and satisfactory implementation of its agreed Poverty Reduction Strategy for at least one year;