First Independent Mena Newspaper
The African Development Bank said it has allocated $4.5 million to back projects in 14 African municipalities. In a statement, the bank said that 500,000 dollars- as part of the same funding -will be earmarked to improving the quality of urban governance including through the launch of a capacity-building and consulting program to enhance municipal […]
The African Development Bank has lent €100 Million to Morocco’s Communal Equipment Fund to support sustainable infrastructure projects aimed at reducing territorial and social disparities in the North African Kingdom. The loan agreement was signed Friday in Rabat by the African Development Bank (AfDB) and le Fonds d’équipement communal (FEC). The money will serve to […]
Head of the African Development Bank called for an end to loans in exchange for oil or critical minerals, which helped countries like China control vast resources in the continent. In an interview with the Associated press, AFDB chief Akinwumi Adesina explained how such loans lead to undervaluing natural resources of African countries and further […]
Africa imports between 70 and 80% of its medicines, according to Akinwumi Adesina, the President of the African Development Bank (AfDB), who also warned that the continent suffers an annual loss of $2.6 trillion yearly due to lack of productivity caused by ill-health. Speaking at a recent ceremony in Lagos where he was honored with […]
The African Development Bank Group (AfDB) is committed to actively contribute to financing development projects in Morocco, in line with the kingdom’s social and economic priorities. The remarks were made by the special representative of the AfDB President, Yacine Fal, at a meeting in Rabat this Thursday with Morocco’s Minister of Economy and Finance, Nadia […]
The African Development Bank has provided Morocco’s OCP Group three loans totaling 188 Million U.S. dollars for green projects planned by the world’s leading producer of phosphate fertilizers. The loan agreements were inked Monday in Rabat by Ousmane Fall, director of Industrialization & Trade Development at AfDB and Karim Lotfi Senhadji, OCP Chief Financial Officer […]
The African Development Bank, AfDB, will hold its 59th annual meetings this year in Nairobi from May 27 to 31, the Abidjan-based lender has announced. Topics to be addressed include the lack of climate finance for African priorities and the high cost of capital to invest in sustainable infrastructure for green growth and a just […]
The African Development Bank (AfDB), through its African Development Fund (ADF), has approved a $303 million loan for the building of a 1,500 km-long power line interconnecting Mauritania and Mali, as part of the Desert to Power Initiative. The project requires $888 million and involves the construction of a 225 kV high-voltage line between Mali […]
The Board of Directors of the African Development Fund, the African Development Bank Group’s concessional window, approved a €38.84 million loan to Benin to help implement the initial phase of the Economic Governance and Private Sector Development Support Program, Abidjan-based lender said in a statement. The program designed to assist the Beninese government in its […]
The Board of Directors of the African Development Bank Group, has approved a loan of €81.9 million to Tunisia to implement the Treated Wastewater Quality Improvement Project for Climate Resilience Building (PAQEE-RCC). The approval, the bank said on December 13, came at a meeting in Abidjan on 6 December. PAQEE-RCC will improve the treatment of […]