First Independent Mena Newspaper
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 […]
The African Development Bank and the Economic Community of West African States Commission (ECOWAS) have signed an agreement for a study into a highway linking Côte d’Ivoire’s commercial capital Abidjan, to Lagos in Nigeria, marking a new step in building regional integration and trade. The proposed Abidjan-Lagos Corridor Highway, a six-lane (3-lane dual) motorway, will […]
The African Development Bank Group (AfDB) last weekend approved the recommendations of the Independent Review Mechanism (IRM) to bring a coal-fired power plant project in Senegal into compliance with Bank policies and procedures. The Sendou Coal Power Plant project in the West African nation was approved by the Boards of Director of the bank on […]
The African continent’s renewable energies potential is estimated at 310 Giga-Watts (GW), an expert from the African Development Bank (AfDB) said on Tuesday in Dakar, Senegal. Hatem Fellah, Principal Agronomist at the AfDB made the statement during the opening of a sub-regional exchange meeting on domestic and renewable energies in the Sahel region. The meeting […]
The African Development Bank (AfDB) will invest up to $25 million in a private equity fund for renewable energy projects across Sub-Saharan Africa. According to the continental lender, the Board of Directors has approved an equity investment of up to $25 million in ARCH Africa Renewable Power Fund (ARPF), a $250 million private equity fund […]
The African Development Bank (AfDB) has announced a $96.6 million loan to Morocco to enable the country to implement a program on improving access to employment through vocational training. “Morocco is one of the first African countries to use this innovative financing instrument that makes the disbursement cycle conditional on achieving results, while reducing transaction […]
Morocco’s renewable energy agency (MASEN) and the African Development Bank (AfDB) agreed to join forces to develop renewable energies in Sub-Saharan Africa. “The goal of this partnership is to support African countries, especially those in the Sahel region targeted by the ‘Desert to Power’ initiative, to develop renewable energy technologies adapted to their natural environments […]