First Independent Mena Newspaper
The U.S.-Africa leaders summit will be held from 13-15 December, President Joe Biden announced Wednesday (20 December). Describing the U.S. commitment to Africa as „enduring.” The U.S. president said he looked “forward to hosting leaders from across the African continent in Washington.“ According the White House press release, the gathering will look to “foster new […]
The African Development Bank Board of Directors approved a loan of USD 271 million to finance Egypt’s Food Security and Economic Resilience Support Program to support efforts to mitigate the impact of the global shocks on the domestic economy from the Russia-Ukraine conflict and to preserve resilience, Abidjan-based bank said in a statement. The program […]
Tunisia has received $700 million in credit facility from African Export–Import Bank known as Afreximbank. President Kais Saied, according to a statement by the state-run television, approved the credit line requested by the Central Bank of Tunis. The statement neither provided details on the period of the loan nor the interest rate. […]
The African Development Bank, AfDB, has approved the allocation of €104 million to Tunisia for the implementation of the 2nd phase of the Road Infrastructure Modernization Program (PMIR II). The Abidjan-based financial institution is a press release said the program seeks to establish an efficient and sustainable transport system capable of developing intra- and inter-regional […]
The African Development Bank has approved a € 114 million loan to support Morocco’s inclusive and sustainable agriculture in rural areas within the frame of the country’s climate adaptation program focusing on better use of water resources in irrigation and soil conversion techniques. The funding will enhance the resilience of Moroccan agriculture to the global […]
The African Development Bank granted Morocco $1.1 billion in loans over the last 8 months to finance strategic sectors, head of the bank’s branch in Morocco Leila Farah Mokkadem said. “Morocco is a country with which we have enjoyed close ties for five decades,” she told MAP, adding that Morocco is the bank’s first client. […]
Morocco ranked 1st in Africa in macroeconomic integration in “Africa Regional Integration Index 2019”, published lately by the UN Economic Commission for Africa (UNECA), the African Development Bank (AfDB) and the African Union Commission. With a score of 0.809, Morocco takes the lead in the continent macroeconomic integration. Mauritius came in the second place followed […]
Cyclone-hit Malawi will need 290 billion Malawian kwacha (more than $ 381 million) for reconstruction work, according to a post-disaster needs assessment conducted by the government. According to Everton Chimulirenji, Vice-President of the Republic of Malawi, also in charge of disaster risk management, the government is committed to improve resilience to such events, to improve […]
The Kenya-Tanzania Power Interconnection Project has moved forward with the division of lots and the commitment of contractors to set up a 510km 400kV transmission line and accompanying substations. With the completion deadline set for 2020, the project is being implemented by the Tanzania Electric Supply Company (Tanesco) in collaboration with Kenya Electricity Transmission Company […]
The Central People’s Bank of Morocco (BCP) has secured funds from Proparco and the African Development Bank, destined to upgrade its business financing in West Africa, mainly in Côte d’Ivoire, Guinea, Mali and Senegal, where the bank is operating through its subsidiary Banque Atlantique. BCP has thus signed Thursday in Casablanca a funding agreement with […]