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African Development Bank Launches $96.7 Million Post-Cyclone Idai Recovery Projects

African Development Bank Launches $96.7 Million Post-Cyclone Idai Recovery Projects

The African Development Bank, with the World Bank and the government of Zimbabwe on 2 September 2019 launched post-cyclone Idai recovery projects totalling $96.7 million to restore livelihoods and rehabilitate infrastructure in areas most hit by the disaster this year. The World Bank has provided $72 million to finance its Zimbabwe Idai Recovery Project (ZIRP), […]

African Development Bank Approves $50m Facility To Support Nigeria’s Rural Populations

African Development Bank Approves $50m Facility To Support Nigeria’s Rural Populations

The African Development Bank has approved a US$50 million line of credit to Nigeria’s Sterling Bank Plc to support micro, small and medium sized enterprises (MSMEs) in strategic sectors, including agriculture, renewable energy and social sectors such as health and education. The facility, approved by the Bank’s Board on Tuesday, seeks to improve the quality […]

Emefiele Expects Rate to Be Held Next Week

Emefiele  Expects Rate to Be Held Next Week

Nigeria’s central bank governor expects the Monetary Policy Committee to hold its main interest rate at next week’s meeting. “I don’t think rates will change,” Godwin Emefiele said in an interview in Abuja, Nigeria’s capital, Wednesday. “Normally, when you begin the year, what you find is that you want to hold the policy rate steady.” […]

WFP Ends Emergency Operation That Helped Many Survive Drought in Swaziland

WFP Ends Emergency Operation That Helped Many Survive Drought in Swaziland

WFP’s leading donors including the European Union, USA, CERF, Japan and the African Development Bank – contributed US$9.4 million towards food and cash assistance. “We would like to thank the donor community for its generous support, vital for those most in need,” says WFP Country Director Alberto Mendes. Some 124,000 people received relief food. WFP […]

Lighting Up and Powering Africa – AfDB Boosts Eskom’s Capacity With a Usd 1.34 Billion Jumbo Loan

Lighting Up and Powering Africa – AfDB Boosts Eskom’s Capacity With a Usd 1.34 Billion Jumbo Loan

Within the context of the New Deal on Energy for Africa, the African Development Bank (AfDB) and South Africa’s power utility (Eskom) on Wednesday, July 7, 2016 in Johannesburg, signed loan facilities for a USD 1.34 billion towards Eskom’s capital expenditure program. Eskom’s 2016-2020 capital expenditure program includes investments in new generation, plant refurbishment, transmission […]