First Independent Mena Newspaper
The World Bank has resumed cooperation with Gabon several months after freezing all financing projects in the central African country in a reaction to the military coup of August 30 following an electoral process deemed rigged by the military. The Washington-based lender, local media ‘Gabon Review’ reports, notified the ministry of Finance and Economy in […]
The African Development Bank (AfDB) announced Tuesday December 12 an agreement with the Lome-based West African Development Bank (BOAD), a line of credit agreement of €70 million to bolster the regional bank’s support to the private sector in the West African Economic and Monetary Union (WAEMU). The agreement, AfDB notes, was signed in Lomé on […]
The two-day Global Gateway Forum that wrapped up in Brussels on Thursday (26 October 2023) saw the European Union sign three strategic partnerships with its partners to develop critical raw materials value chains and boost transport connectivity. During the event, the 27-member bloc signed three Memoranda of Understanding (MoU) — for a partnership on critical […]
A UN agency has given Zambia and Zimbabwe permission to build a $5 billion hydropower dam downstream from Victoria Falls, a UNESCO World Heritage Site, according to the authority overseeing its construction. Environmentalists have protested the 2,400-megawatt Batoka Gorge project, which is located 47 kilometers from the world’s largest waterfall, saying it would have a […]
The Burkina Faso military government has signed an agreement with the Russian government for the construction of a nuclear power plant in the West African country, in a move that aims to “cover the energy needs of the population,” less than a quarter of which had access to electricity by late 2020, according to the […]
The African Development Bank (AfDB) and Tunisia inked a deal Wednesday for a $87.1-million credit facility for the financing of a project to support the inclusive and sustainable development of the cereals industry (PADIFIC), local reports say. Samir Saied, Tunisia’s Minister of Economy and Planning and AfDB’s Deputy Director General for North Africa Malinne Blomberg […]
Benin has secured an 80 million euros loan facility from the African Development Bank (AfDB) to improve and expand Cotonou harbor, one of the main maritime access points for landlocked countries in West Africa. The loan is split into two: €55 million from the African Development Bank and €25 million from Africa Growing Together Fund, […]
The African Development Bank, AfDB, rubber-stamped Tuesday a €400 million partial credit guarantee for Côte d’Ivoire, to support the mobilization on international financial markets for strategic environmental, social and governance (ESG) projects. “The partial credit guarantee will enable Côte d’Ivoire to raise long-term financing from commercial banks, in line with its ESG Framework. Côte d’Ivoire […]
COMESA, or the Common Market for Eastern and Southern Africa, has recorded a significant increase in trade both globally and within the region above the pre-Covid-19 pandemic levels, according to the latest detailed report on key developments and achievements recorded in the past year in the COMESA region under the market integration and physical integration […]
Tunisia will witness a 2.3 per cent economic growth rate in 2023 and 2024, the African Development Bank (AfDB) announced Wednesday, as it presented its economic outlook for 2023. The Abidjan-based institution also projects inflation to stand at 8.8 per cent over the same period. The inflation figure is slightly higher than that of the […]