The Board of Directors of the African Development Bank (AfDB) has approved a senior loan of USD 50 million for the expansion of the Azito power plant in Côte d'Ivoire. This facility aims to finance the third phase of the project which consists of converting the existing 288 MW simple-cycle power plant to a combined-cycle power plant, thereby increasing the total generation capacity to 430 MW.

The African Development Bank (AfDB) Group on September 6, in Tunis approved a loan of UA 30 million, equivalent to 24 billion CFA francs, to the Republic of Benin as funding to support the country’s economic and financial reforms. The funding amount will be deducted from the resources of the African Development Fund (ADF), the Bank’s concessional window.

The program will contribute to institutional development and knowledge accumulation in the area of public finance reforms and provide support for private sector development in the country.

Leading international financial institutions committed to fight against climate change and call for comprehensive Copenhagen agreement

Tunis, 2 December 2009 – The heads of the world’s leading international financial institutions today called for a comprehensive agreement to combat climate change at this month’s Copenhagen Conference and agreed to further coordinate their own efforts to help achieve the meeting’s ambitious goals.

The Board of Directors of the African Development Bank (AfDB) approved on February 15, 2012 a USD 200 million line of credit (LOC) in favour of the Africa Finance Corporation (AFC), a multinational financial institution based in Lagos, Nigeria, with the mandate to catalyse investments and create partnerships to help bridge Africa’s infrastructure gap.

The African Development Bank (AfDB) Board of Directors has approved a grant of approximately €25 million (CFA 16.4 billion) to Côte d’Ivoire to finance an agricultural infrastructure support project in the Indénié-Djuablin region.

The project, expected to last five years, has as its goals sustainable growth in major crop production and productivity and improved marketing conditions.  The support project has two major elements – infrastructure development and capacity building in a rural area of Côte d’Ivoire.