AfDB approves US$14.05m investment in Adiwale Fund 1 targeting Francophone West Africa

AfDB approves US$14.05m investment in Adiwale Fund 1 targeting Francophone West Africa

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WEST AFRICA – The Board of the African Development Bank (AfDB) has approved a €12.5 million equity investment in Adiwale Fund 1 targeting high growth potential Small and Medium Sized Enterprises (SMEs) in French speaking West African countries. With a target fund size…

Energy stakeholders call on new financing mechanisms to support off-grid and mini-grid connectivity in Africa

Energy stakeholders call on new financing mechanisms to support off-grid and mini-grid connectivity in Africa

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COTE D’IVOIRE – Stakeholders in the energy industry have called for restructuring of  financing mechanisms in order to enable the development of off-grid and mini-grid connectivity in Africa. The sentiment was made during the 5th Energy Access Investment Forum in Abidjan, Cote…

AfDB doubles its climate finance commitments to US$25bn within 2020-2025

AfDB doubles its climate finance commitments to US$25bn within 2020-2025

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AFRICA – The African Development Bank (AfDB) announced that it will double its climate finance commitments for the period 2020-2025 to at least US$25 billion. The announcement was made by Akinwumi A. Adesina, the Bank’s President during the One Planet Summit in…

AfDB approves $25M Investment in Fund for Renewable Energy Projects

AfDB approves $25M Investment in Fund for Renewable Energy Projects

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AFRICA – The African Development Bank Group (AfDB) has approved an equity investment worth US$25 million in ARCH Africa Renewable Power Fund (ARPF) to support renewable energy projects across Africa. The investment from AfDB comes as part of a US$250 million private…