First Independent Mena Newspaper
The African Development Bank Group approved a €70-million financing facility for Bank of Africa Maroc (BOA) to promote access to financing African trade. The package comprises a €50 million Risk Participation Agreement (RPA) and a €20 million Trade Finance Line of Credit (TFLOC), the AfDB said in a press release. “The African Development Bank, rated […]
The African Development Bank (AfDB) and the World Bank are working together to provide electricity to 300 million Africans by 2030 through renewable energy system. Some 600 million Africans lack access to electricity, creating significant barriers to health care, education, productivity, digital inclusivity, and ultimately job creation, according to the World Bank. The WB said […]
The African Development Bank approved a loan of 102.7 million dollars to help Togo farmers boost their resilience to climate change and foster sustainable agricultural practices. The funding also aims at helping farmers reduce greenhouse gas emissions and provides support for small irrigation systems covering at least 39,179 ha, in addition to the provision of […]
The African Development Bank (AfDB), headquartered in Abidjan, Côte d’Ivoire, will elect a new president in May 2025. As the candidacy period approaches in September 2024, several names are emerging as potential contenders. Among the prominent candidates is Ousmane Kane from Mauritania, a former AfDB Vice-President for Institutional Services and a close associate of Mauritanian […]
The Board of Directors of the African Development Bank (AfDB) Group has approved a €120 million financing to support Morocco’s Governance and Climate Change Resilience Support Program (GCRRP) – Phase 1. The main objective of this program is to implement reforms guaranteed to boost Moroccan economy and consolidate its resilience to exogenous factors including climate […]
The African Development Bank has agreed to provide Morocco four loans totaling over €600 million to enable the North African Kingdom build a 105-km long highway, enhance territorial competitiveness, modernize the university, and support sustainable forest development. The agreements were signed Wednesday in Rabat by Minister in charge of the budget Fouzi Lekjaa and the […]
Morocco’s economic growth is expected to reach 3.5 pc in 2024 and 3.8% in 2025, driven by higher investment, according to latest projections released by the African Development Bank. In its African Economic Outlook 2024 report, the Bank said inflation is projected to fall slightly to 4.1% in 2024 and 3.8% in 2025, as world […]
The Board of Directors of the African Development Bank (AfDB) has approved an €84 million funding for the sustainable development of forest areas in Morocco, meant to enhance climate resilience and promote local entrepreneurship. The project meant to support the inclusive and sustainable development of forest areas in Morocco aims to contribute to strengthening the […]
The Board of Directors of the African Development Bank (AfDB) Group has approved funding of €120 million under the Transformation Support Program for a Moroccan Digital, Entrepreneurial, and Inclusive University (UM 4.0). This program, which targets students, higher education teachers, entrepreneurs and young graduates, aims to contribute to the development of human capital and the […]
The World Bank Group and the African Development Bank Group are partnering on an ambitious effort to provide at least 300 million people in Africa with electricity access by 2030. The World Bank Group will work to connect 250 million people to electricity through distributed renewable energy systems or the distribution grid while the African […]