First Independent Mena Newspaper
The African Development Bank Group has announced the creation of the COVID-19 Response Facility to assist regional member countries in fighting the pandemic. The Facility is the latest measure taken by the Bank to respond to the pandemic and will be the institution’s primary channel for its efforts to address the crisis. It provides up […]
The African Development Bank (AfDB) last week approved a $1.5 million emergency relief grant to assist nine countries in the East and Horn of Africa on the control of swarms of desert locusts that are threatening livelihoods and food security. The nine beneficiary countries are Djibouti, Eritrea, Ethiopia, Kenya, Somalia, South Sudan, Sudan, Uganda and […]
The African Development Bank (AfDB) Group has approved €12.46 million to support the Energy Transition and Institutional Support Program (ETISP) of São Tomé and Principe. The financing cover the major part of the program, which costs around €13 million. The rest of the funding will be supplemented by the government, according to AfDB. The project […]
The African Development Bank (AfDB) has granted a loan of €62.35 million to Côte d’Ivoire, the bank said in a statement. The funds are intended to finance the Project for the Strengthening of Electrical System Works and Access to Electricity (Proser). The AfDB grant will help finance the electrification of 1,388 rural localities in the […]
As the Covid-19 outbreak is spreading quickly in Africa with nearly 3,000 infected people across 45 countries, placing strain on already fragile health systems, and dangerously threatening the continent’s economy, the African Development Bank Group is moving to provide flexible responses aimed at lessening the severe economic and social impact of this pandemic on its […]
African countries have been called to increase investments in Africa’s fertilizer value chain to boost agricultural yields and build the industry across the continent. The call was launched by the Africa Fertilizer Financing Mechanism during its Governing Council held last week in the headquarters of the African Development Bank in Abidjan. The Governing Council, attended […]
The African Development Bank (AfDB) expects Morocco’s economic growth to reach 3.7 pc in 2020 and 3.9 pc in 2021 from a 2.9 pc growth posted last year. In its African Economic Outlook 2020 report, the African bank says the projected GDP in Morocco is supported by the sustained efforts made to improve macroeconomic conditions […]
The African Development Bank (AfDB) last week announced a contribution of $220 million to implement a results-oriented program intended to improve territorial competitiveness in Morocco. The program, part of Morocco’s efforts to implement its industrial acceleration plan at the level of regions, is aimed at setting up new industrial poles, attracting private investors and generating […]
The African Development Bank’s Board of Directors has approved a grant to the government of Sudan to accelerate the adoption of solar-powered irrigation pumps in the country’s West Kordofan and North Kordofan states. The project will enable farmers to adopt renewable energy technology through the installation of 1,170 photovoltaic (PV) irrigation pumps, the establishment of […]
The African Development Bank approved on Wednesday a $204 million loan to Morocco to help the North African country upgrade social and medical services provided to disabled persons, poor women and children. The funding will finance the building of two hospitals in the southern cities of Guelmim and Ouarzazate, set up 144 units for special […]