Tag Archives: AFDB

President, African Development Bank, Dr Akinwumi Adesina says the bank would invest $12bn in the power sector in Africa in four years with the goal of leveraging on the aviation sector. Adesina said the aviation sector was very important to the continent but that it could not operate in the dark. He said the sector was very important to Africa …

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The African Development Bank (AfDB) has commended the Federal Government’s Economic and Growth Recovery Plan (EGRP), while denying a report that the bank has called off loans to Nigeria. A statement on the bank’s website on Tuesday, denied the loan cut off credited to AfDB’s Vice-President for Power, Energy, Climate and Green Growth, Mr Amadou. The bank also commended the …

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The African Development Bank (AfDB) has called off a loan to Nigeria that would have helped fund the country’s budget. It has instead redirected the money to specific projects, a vice president at the lender said yesterday, according to Reuters. The AfDB  had been in talks with Nigeria for around a year to release the second, $400 million tranche of a …

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The African Development Bank (www.AfDB.org/en) President, Akinwumi Adesina, will deliver the Norman Borlaug Lecture today as part of the World Food Prize events taking place from October 16-20, 2017 in Des Moines, Iowa, USA. The Norman Borlaug Lecture titled “Betting on Africa to Feed the World” will be held on World Food Day, October 16, in conjunction with the annual …

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The Board of Directors of the African Development Bank (AfDB) Group has approved three senior loans for a total amount of $55 million to finance three solar PV Projects under the second Round of the Feed-in-Tariff (FiT) Programme in Egypt. Alcazar Energy Egypt Solar 1 (Alcazar I), Delta for Renewable Energy (Delta) and Shapoorji Pallonji Energy Egypt (SP), are the …

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The African Development Bank (AfDB) said that financial markets in Africa need to increase their lending to Micro, Small and Medium enterprises (MSMEs) in the continent by at least $135 billion in order to meet their demand. In a statement to mark the United Nations’ (UN) MSMEs Day, AfDB noted that MSMEs in Africa need increased affordable loans and more …

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The Federal Government has opened talks with the African Development Bank for financing of coal-to-power projects across the country. Punch Newspaper learnt that the funding arrangement, which the Ministry of Mines and Steel Development is midwifing, would be available to operators who were ready to set up coal power plants with capacity of at least 500 Megawatts The Special Assistant …

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The African Development Bank will launch an $850m agriculture programme to transform the sector and reduce food imports in Africa. The Director of Agriculture in the bank, Dr Chiji Ojukwu, said, on the sideline of the International Conference on Wheat in Abuja on Tuesday, that the project, to be called Technology for African Agricultural Transformation, would ensure the generation, sustainable …

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The Board of Directors of the African Development Bank has approved a US $90-million financial package comprising a US $50-million Line of Credit and US $40-million Trade Finance Line of Credit to Commercial Bank of Africa Limited (CBA), Kenya. The funding will be channeled to SMEs and local corporates in infrastructure, tradable and other transformative sector transactions in Kenya. It …

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The Africa Development Bank says it has approved a loan of $155m for Economic and Power Sector Reform Programme in Nigeria. The Senior Communications Officer of AfDB, Fatimah Alkali, in Abuja on Friday said that the loan became effective in October, 19, 2012. Recent media reports had indicated that there might be a face-off between the Senate and the Federal …

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