First Independent Mena Newspaper
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 […]
The African Development Bank Group has approved a €117 million loan to Morocco to enable the North African country to finance a project destined to ensure the sustainability and security of access to drinking water. The project aims to secure access to drinking water in the provinces of Guercif, Zagora, Al Hoceima, Tanger and Beni […]
Morocco’s BCP Bank and the African Development Bank teamed up in a $100 million agreement to boost trade between African countries. The deal (risk participation agreement) provides for cooperation to promote trade between African states by meeting the growing demand on financing transactions in the continent, the Moroccan bank said in a statement. The BCP […]
The positive performance of the Moroccan economy enabled North Africa to achieve the second highest growth rate of 4.9% at the African level, the African Development Bank said. The performance of the Moroccan economy, which saw growth rise from 1.2% in 2016 to 4.1% in 2017 gave a boost to North African posted the second […]
The achievement of the solar energy project in Midelt, in the Middle Atlas mountainous range, took a leap forward with a loan from the African Development Bank (AfDB) worth $265 million. Moroccan news outlets reported that the funding will help push forward the completion of the first phase of Noor Midelt project, which will have […]
In a bid to revamp rail transport in the Maghreb region, the Secretariat of the Arab Maghreb Union (AMU) is supervising a feasibility study worth $1.7 billion, funded by the African Development Bank (AfDB). The train aims to link the three countries of Morocco, Algeria and Tunisia. The feasibility studies are launched at a time […]
Morocco has received approval for a $25 million loan from the Climate Investment Funds’ Clean Technology Fund (CIF CTF) for a project to generate solar power through an innovative hybrid Concentrated Solar Power (CSP) and Photovoltaic (PV) solution. he Midelt Phase I Concentrated Solar Power Project is being supported by the African Development Bank (AfDB) […]