Cameroon: US$ 61 Million Funding for Water and Sanitation

Tunis, 28 January 2009 - The African Development Bank (AfDB) Group Board of Directors has approved a loan of 40 million Units of Account (UA)*, equivalent to US$ 61.6 million, to help finance  a Semi-Urban Drinking Water Supply and Sanitation  project in Cameroon.

The Project, to be financed by the African Development Fund (ADF), the concessionary window of the AfDB Group, will cover 19 councils in the Central, Far North, Littoral, West, South and South-West provinces of the country.

AfDB promotes agribusiness investment funds-Equity participation of USD 15 million in Agribusiness Investment Fund (Agri-Vie Fund MPCC)

Tunis – 28 January 2009 - The Board of Directors of the African Development Bank (AfDB) Group approved an equity participation of USD 15 million to finance an Agribusiness Investment Fund (Agri-Vie Fund MPCC). Agri Vie is a private equity fund that makes equity and equity-related investments in agribusiness companies in Sub-Saharan Africa (SSA). The Fund will seek investments in commercially attractive agribusiness projects with sound environmental and social practices.

Sierra Leone Qualifies for Fragile States Facility Resources

Sierra Leone has qualified for Fragile States Facility resources, worth 72.47 million units of account (US$ 112 million), following the approval of the Boards of Directors of the African Development Bank (AfDB) Group on Tuesday, January 21, 2009, in Tunis. 

Sierra Leone will thus receive financial assistance to promote economic growth by rehabilitating its infrastructure, improving its agricultural sector and promoting good governance. More specifically, the funds will finance:

ADF Supports Economic Recovery in Sierra Leone

Tunis, 27 July 2005 – The Board of Directors of the African Development Fund approved in Tunis on Wednesday a grant of 10,7 million Units of Account* (US$16 million) to finance the Third Economic Rehabilitation and Recovery Programme (ERRP-III) in Sierra Leone.

The main objective of the Programme is to support the on-going initiatives of the Government to  improve the economic governance situation in Sierra Leone.