First Independent Mena Newspaper
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 […]
The African Development Bank (AfDB) approved on Wednesday a €245 million loan to the National Office of Electricity and Drinking Water (ONEE) to enable the Moroccan utility company expand its rural electrification projects. “Developing a reliable electricity network will enable the Kingdom to meet an energy demand recording a 5 pc annual growth” said Mohamed […]
Donors of the African Development Fund (ADF)over the weekend agreed to commit $7.6 billion to speed up growth in Africa’s poorest nations and help lift millions out of poverty. According to the African Development Bank Group, the Fund comprises 32 contributing states and benefits 37 countries. The fund, administered by the African Development Bank, supports […]
The African Development Bank (AfDB) has just allocated €48.82 million to Burkina Faso for the construction of a solar plant. The funding was allocated in the form of a loan to build a 52 MW power plant as part of the bank’s “Desert to Power 2020-2024” initiative. Upon completion, the plant will provide energy to […]
The Government of Flanders this year has committed 1 million euros to the Africa Climate Change Fund (ACCF) to support five projects in three African countries – Malawi, Mozambique and South Africa. According to the African Development Bank, the project will contribute to demonstration of an innovative results-based finance model for adaptation to climate […]
The African Development Bank (AfDB) approved a €100 million loan for the Municipal Equipment Fund (FEC) to finance new investment and public infrastructure projects in Morocco. These projects will help improve the quality of public services, especially in rural areas as well as spur revenue generating activities, according to an AfDB press release. “We are […]
Mustapha Bakkoury, CEO of the Moroccan Agency for Sustainable Energy (Masen), was appointed, Tuesday in Johannesburg, chairman of the steering committee of the “Desert to Power” initiative, which aims to develop the use of renewable energy in several African countries. The appointment took place on the sidelines of the second edition of the Africa Investment […]
The African Development Bank Shareholders have approved a landmark $115 billion capital increase, doubling the bank’s capital base from $93 billion to $208 billion, and strengthening thus the Bank’s leadership on development financing for the continent. This largest capital increase in the Bank’s history was approved at an extraordinary shareholders’ meeting last week in in […]
The African Development Bank has appointed a group of 8 renowned experts, including Moroccan Fatima-Zahra Taibi, to the board of a continental initiative to mobilize financing for resilience to the negative impacts of climate change, the Adaptation Benefits Mechanism (ABM), the AfDB said in a press release. Fatima Zahra Taibi is a senior adviser to […]