AfDB Group Approves USD 108 million for industrial skills development in Ghana
The African Development Bank Group’s Board on Wednesday, approved a loan and a grant totaling USD 108 million (about UA 70 million) from African Development Fund concessionary resources to finance an industrial skills development project in Ghana.
The grant component of the Development of Skills for Industry Project (DSIP) amounts to USD 38.5 million.
AfDB Boosts Access to Low Cost Sustainable Energy in Zambia
The Board of Directors of the African Development Bank (AfDB) has approved a USD 35-million senior loan and a USD 3 million standby facility to Itezhi-Tezhi Power Corporation (ITPC) and a concessional loan of USD 18 million to the government as Zambia Electricity Supply Company (ZESCO)’s share of the equity to develop the Itezhi-Tezhi hydropower plant project that will provide reliable, low-cost power and sustainable energy to the country.
AfDB invests USD 18 million to help fill infrastructure finance gap in Africa
The Board of Directors of the African Development Bank (AfDB) has approved a USD 18 million private equity investment in infrastructure in sub-Saharan Africa.
AfDB Provides USD 1.2 Million Grant to Support Sierra Leone’s Financial Sector Development Plan
The AfDB and Sierra Leone’s government on June 1, 2012 in Arusha, signed a US$1.2-million grant financing agreement under Pillar III of the Fragile States Facility, to provide urgently-needed support to the country’s financial sector development plan.
The grant will be used to provide technical assistance and training to staff of the Central Bank of Sierra Leone, in order to develop a Bank-wide information technology policy and strategy; set up record management systems and define policy and strategy to support the implementation of risk based internal audit operations.
IFC and African Development Bank Sign ISDA Master Agreement to Expand Local Currency Finance
IFC, a member of the World Bank Group, and the African Development Bank (AfDB) today signed an ISDA Master Agreement to enter into cross-currency swap transactions to facilitate local currency lending and bond issuance in Africa. It is the first ISDA Master Agreement either institution has signed with another multilateral financial institution.
The agreement will enable IFC and the AfDB to collaborate and benefit from each other’s local currency bond issues, enhancing their local currency funding capacity to support their clients’ development projects.