First Independent Mena Newspaper
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 […]
The African Development Bank has asked the Coalition for Green Capital (CGC) to make a study on the creation of national climate change funds and green banks in Africa. CGC will work with six African countries to conduct feasibility studies for the project, which was launched at the Green Bank Design Summit held in Paris […]
Morocco has received in 2019 loans from the African Development Bank (AfDB) worth 3 billion dollars funding 35 projects, bringing total loans by the African development finance institution to 10 billion dollars since the 1970s. AfDB’s funding makes Morocco on top of the list of beneficiaries of loans which covered areas such as energy, transport, […]
The African Development Bank (AfDB) has announced a contribution of $267 million to finance the implementation of the Priority Investment Program (PIP) of the G5 Sahel. The Priority Investment Program is a 14.8-billion-dollar program addressing development needs in governance, security, economic resilience, and infrastructure in the Sahel region. The program aims to improve the living […]
The Angolan government plans to install about 30,000 solar photovoltaic systems in rural areas to produce 600 MW of electricity in the Central African nation. According to Angolan Minister of Energy and Water, João Baptista Borges, the government was considering increasing the rate of access to electricity, especially in rural areas. Currently, less than 40% […]
Clean Technology Fund approves $20 million investment for AfDB-sponsored Facility for Energy Inclusion The Clean Technology Fund (CTF) one of two multi-donor trust funds within the Climate Investment Funds (CIF) last week approved $20 million for the Facility for Energy Inclusion (FEI), a facility sponsored by the African Development Bank to provide sustainable financing for […]
The President of African Development Bank (AfDB), Akinwumi Adesina, challenged governments in Africa to play a leading role in providing jobs for Africans, saying it was time for African governments to begin to shift from youth empowerment to youth investment. Adesina who was speaking over the weekend at the 5th Tony Elumelu African Entrepreneurship forum […]