AfDB approves US $82.7-million grant to improve Batshamba-Tshikapa road in the DRC
The Board of Directors of the African Development Bank on Wednesday, October 22 in Abidjan, Côte d’Ivoire, approved a grant of US $82.7 million (UA 55.56 million*) for the development of a 56-kilometre portion of the Batshamba-Tshikapa road in the Democratic Republic of Congo, between Lovua and Tshikapa on the country’s NR1. The grant supplements earlier Bank interventions on the same road.
The works include construction of a new bridge over the Kasaï River which crosses Tshikapa town.
The African Development Bank Affirms its Strong Commitment to the Development of the Horn of Africa
On 27th October 2014 the African Development Bank (AfDB) joins the United Nations Secretary General, Ban Ki-moon, the African Union, the World Bank, the European Union and Islamic Development Bank in a 4-day visit to the Horn of Africa. At the start of the visit in Addis Ababa, Ethiopia, the AfDB pledged a new $1.8 billion development assistance package for the next 3 years 2015-2017.
After Ethiopia, the Heads of the institutions and representatives will visit Djibouti, Somalia and Kenya where they will hold talks with the countries’ leaders.
SEFA grants Comoros US$ 480,000 to facilitate private sector investments in renewable energy sector
The Sustainable Energy Fund for Africa (SEFA) approved on Thursday, 30 October 2014, a US$ 480,000 grant for technical assistance to the Government of the Union of Comoros for a project to facilitate private sector participation in developing renewable energy. The grant will be funded through the “enabling environment” window of this AfDB-administered multi-donor facility mandated to unlock investments in clean energy projects in the continent.
Investing in people-centred innovation and technology essential to Africa's development
Innovation and technology can serve as a springboard for economic transformation provided they are driven by people. This was the message put forward by partners and participants at the closing of the 9th Annual African Economic Conference (AEC), which ran from November 1-3 in Addis Ababa.
Global development banks and the private sector come together to support a practical solution for reducing the infrastructure gap
Global infrastructure needs to 2030 are estimated to be $57 trillion[1]. For both public sector and private sector investors in the developing markets there has been a lack of well-prepared projects to fulfil these needs. This has led to a widening infrastructure gap between what is required and what is delivered.