Tag Archives: AFDB

The African Development Bank, AfDB, says it has approved a 70 million dollar loan for a road project in Ebonyi. The bank said on its website on Friday that it would provide $40 million, while its co-financier, the Africa Growing Together Fund (AGTF), would contribute $30 million for the project. It also said that the bank group’s funding would cover ...

The Board of Directors of the African Development Bank (AfDB) Group has approved an equity investment of up to $25m in ARCH Africa Renewable Power Fund, a $250m private equity fund for renewable energy projects in Nigeria and across Sub-Saharan Africa. A statement made available to our correspondent in Abuja on Tuesday by AfDB said that ARPF would provide equity ...

The Board of Directors of the African Development Bank (AfDB) has approved an equity investment of $40m in African economies. The $40m would be ploughed in the African Infrastructure Investment Fund, with a focus on acquiring positions of significant influence in roads, airports, rail links, bridges, ports, logistics, power generation, utility distribution, as well as telecommunications assets, the AfDB said ...

The Federal Executive Council (FEC) Wednesday approved $1.5 million loans from the African Development Bank (AfDB) for the Lagos-Abidjan road project. The approval was granted at the FEC meeting presided over by President Muhammadu Buhari at the Presidential Villa, Abuja. The Finance Minister, Zainab Ahmed, who disclosed this while briefing State House reporters at the end of the FEC meeting, ...

The African Development Bank (AfDB), along with some partners across the globe, has announced the securing of $1bn to enable investment in infrastructure development across the African continent, including Nigeria. The announcement, which was made in Ottawa, Canada, according to a statement made available to our correspondent by the AfDB, listed the partners in the multi-level securitisation to include the ...

Africa50 has emerged a key player in driving infrastructure investments with commercial rates of return in the region, an effort to bridge the continent’s infrastructure financing gap estimated at $108 billion, after two years operations. The infrastructure investment platform that contributes to Africa’s growth by developing and investing in bankable projects, catalysing public sector capital, and mobilising private sector funding, ...

Through increased investment and sustainable housing development, African Development Bank (AfDB) has helped in alleviating poverty in its regional member countries (RMCs) which includes Nigeria. Besides providing one of the major needs of man which is shelter, housing development, more than any other economic activity, creates jobs, mostly for the poor who are engaged in various stages of construction as ...

The African Development Bank (AfDB) on Tuesday pledged to work with multilateral institutions and private sector operators to assist Nigeria bridge the infrastructure gap in the country. Nigeria’s cumulative infrastructure financing estimated at about $100 billion annually are projected to reach $3 trillion by 2044. The Senior Director, AfDB Nigeria, Ebrima Faal, said during the Africa Investment Forum (AIF) Roadshow ...

African Development Bank (AFDB) President, Dr. Akinwumi Adesina has made it known that AFDB will partner with Sokoto State government in its plan to establish an agro-industrial park for the North- West geo-political zone. New Telegraph reports that to realise this, Adesina said cotton production would be given priority attention as a way of resuscitating the zone’s ailing textile industry. ...

The African Development Bank (AfDB) has said it will support Nigeria with a sum of $1 billion to address the country’s N2.2 trillion deficit in the 2016 budget. The AfDB President, Akinwunmi Adesina, who was at the State House in Abuja, yesterday, also revealed other packages the financial institution has for the country. They include $300 million to create jobs ...