The African Development Bank (AfDB) has reached a close on financing agreements for a $20-million-dollar concessional investment from the Sustainable Energy Fund for Africa (SEFA) for the COVID-19 Off-Grid Recovery Platform (CRP). In a statement from the AfDB on Sunday,…
The Rural Electrification Agency (REA) has announced the provision of $550m in funding by the World Bank (WB) and the African Development Bank (AfDB) to support the implementation of its off-grid solution projects. Mr Ahmed Abubakar, Communication Expert, REA, who…
Global credit rating agency, Fitch Ratings, has affirmed the African Development Bank’s (AfDB) credit rating at ‘AAA’, with a stable outlook. Fitch said the triple-A rating was driven by the ‘extraordinary support’ of the bank’s shareholders. Fitch views the bank’s…
The African Development Bank (AfDB) fund has raised a cumulative total capital of $274 million since 2011, Dr Kevin Kariuki, Vice President Power, Energy, Climate and Green Growth, AfDB has said. Kariuki said this in the recently released 2020 Annual…
Gloria Akudoro The Board of Directors of the African Development Bank Group has approved a $6 million grant to launch the initial phase of the Desert to Power West Africa Regional Energy Program. The Desert to Power, an initiative championed by the…
The Board of Directors of the African Development Bank has approved a loan of $50 million to Nigeria’s First City Monument Bank (FCMB) to channel to local enterprises and women-empowered businesses in the agribusiness, manufacturing, healthcare and renewable energy sectors.…
The African Development Bank (AfDB) has launched a five-year Strategy for Economic Governance in Africa (SEGA) to promote sustainable economic performance in African countries. The launch, held virtually on Friday, noted SEGA was aimed at fostering transparent and accountable governments…
By Uthman Salami The African Development Bank (AfDB), the Korean Ministry of Economy and Finance and the Export-Import Bank of Korea have signed a pact which will make Korea provide $600 million in co-financing for energy projects with the African…
Senior Special Adviser on Industrialisation at African Development Bank (AfDB), Prof. Oyelaran-Oyeyinka Oyebanji says diversification of Nigeria’s economy is the only viable way to survive the current global economic uncertainty. Oyebanji stated this on Monday in Okada, Edo while delivering…
The African Development Bank (AfDB) and the International Fund for Agricultural Development (IFAD) have expressed their commitment to work with African leaders to redouble efforts at strengthening food security in the continent. This formed part of the decisions reached at…
