By Kayode Tokede The African Development Bank (AfDB), through its Youth Entrepreneurship and Innovation Multi-Donor Trust Fund, has provided more than 7.3 million dollars for youth empowerment. According to a statement from the bank on Tuesday, the fund provides project…
By Kayode Tokede The African Development Bank (AfDB) Group, on Tuesday announced the 18-month debarment of Sargittarius Nigeria Ltd. and its affiliates, including Sargittarius Henan Water Conservancy Engineering Ltd. According to the bank, Sargittarius Nigeria Ltd. is a limited liability company registered…
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 African Development Bank has reached financial close on financing agreements for a $20 million concessional investment from the Sustainable Energy Fund for Africa (SEFA) for the Covid-19 Off-Grid Recovery Platform (CRP). The 5-year, $50 million blended finance initiative is…
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.…
