First Independent Mena Newspaper
The first-ever conference for exchange and cooperation between national and local authorities in Africa to address climate issues and support decentralization territorial approach of Nationally Determined Contributions (NDCs), kicked off this Wednesday in Abidjan, Côte d’Ivoire. Ministers, mayors and heads of African municipalities will explore opportunities for cooperation and mutual assistance in this “Structured Dialogue” […]
The African Development Bank has signed a $50 million risk participation agreement, APR, with investment and corporate bank Natixis. The 50/50 risk-sharing agreement covers a portfolio of commercial transactions totaling $100 million, which will support commercial operations worth $600 million in Africa over the next three years, said the African financial institution in a press […]
The African Development Bank (AfDB) has approved a $20 million grant to finance a solar off-grid electrification program in the Democratic Republic of Congo (DRC). According to Amadou Hott, AfDB Vice President in charge of Electricity, Energy, Climate Change and Green Growth, this innovative project will hopefully demonstrate the viability and interest of the private […]
The East African Community (EAC) has secure $2.5 billion loan from the African Development Bank (AfDB) to provide an additional 7,480 megawatts (MW) of electricity by 2022. The regional bloc comprises six member states in the African Great Lakes region in eastern Africa, namely: Burundi, Kenya, Rwanda, South Sudan, Tanzania and Uganda. The funds – […]
The board of directors of the African Development Bank (AfDB) group approved a €268 million financing to phase II of the Industrialization Acceleration Support Program in Morocco (PAAIM II), the financial institution announced on Wednesday. The objective of this program is to promote Morocco’s industrial acceleration through the deployment of industrial ecosystems, the improvement of […]
The African Development Bank and KfW Development Bank this week said they will be partnering to accelerate implementation of recommendations contained in the 2018 Electricity Regulators Index (ERI) report for Côte d’Ivoire’s energy sector. This partnership arrangement between the two institutions was announced during a technical workshop with key stakeholders from the West African nation’s […]
The African Development Bank will double its climate finance commitments for the period 2020-2025, the Bank’s President announced at the One Planet Summit taking place in Nairobi. Akinwumi A. Adesina said that the Bank would commit at least $25 billion towards climate finance. Speaking at a plenary of the Summit Thursday in the presence of […]
Authorities in Côte d’Ivoire have announced an ambitious project to extend the electricity network of the city of Soubré in the southwestern region. The announcement was made by officials from Côte d’Ivoire-Energies; Compagnie ivoirienne d’électricité (CIE); and CEGELEC. About 3,627 electricity poles will be installed together with 17 transformer stations and 133 km of power […]
The Congolese government has inked an agreement with the pan-African investment platform Africa50 to mobilize funds for tripling the capacity of the Congo Power Station. The infrastructure, which currently has a capacity of 300 MW, should increase its capacity to 450 MW then to 900 MW by 2027. Increased production from the station could improve […]
The African Development Bank (AfDB) agreed Tuesday to back Morocco’s efforts to reduce unemployment with a $96.6-million loan that will support access to jobs and improvement of populations’ living conditions. Morocco’s minister of economy, Mohamed Benchaaboun, said at the signing of the agreement, the loan is earmarked to improving living conditions through an inclusive job […]