Tag: ADF

Tanzania receives US$166m loan from French Development Agency for 150MWp solar plant

Frank

TANZANIA – The Tanzanian government has just signed US$166 million grant agreement with the French Development Agency (AFD) to finance the construction of a 150 MWp solar photovoltaic power plant. The financial arm of French foreign policy’s grant to the Tanzanian government for the implementation of this project is aimed at diversifying Tanzania’s electricity mix. The loan agreement was signed in the Tanzanian capital Dodoma between the Permanent Secretary of the Ministry of Finance and Planning, Emmanuel Tutub, Frédéric Clavier, the French Ambassador to Tanzania and Stéphanie Mouen Essombe, the…

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AfDB grants Burundi US$20m for climate resilience of farmers

Frank

BURUNDI – The African Development Bank (AfDB) has granted US$20.55 million to support farmers affected by climate change phenomenon. The project to support the sustainable development of agriculture and livestock value chains in Burundi (PADCAE-B) is expected to start soon after the initiative received funding of USD 20.55 million from the African Development Bank (AfDB). Part of the financing, US$12.83 million, comes from the African Development Fund (ADF), the concessional window of the AfDB while the rest of the package, US$7.72 million, comes from Pillar 1 of the Transition Support…

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African Development Fund approves US$54m Covid-19 loan to Tanzania

Frank

TANZANIA – The Board of African Development Fund (ADF) has approved a loan of US$ 54 million to Tanzania to finance the country’s response to the COVID-19 pandemic. The loan from the African Development Bank Group’s COVID-19 Response Facility (CRF) will support the Government of Tanzania’s $109 million national COVID-19 response plan which is jointly supported by the country’s other development partners.  The plan is aimed at building economic resilience while mitigating the socio-economic and health impacts of the COVID-19 pandemic particularly on local businesses, vulnerable households and the country’s…

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ADF approves US$138m crisis budget for four Southern Africa countries

Frank

SOUTHERN AFRICA – The Board of Directors of the African Development Fund (ADF) has approved a UA100.4 million (US$138 million) crisis budget support package to four southern African countries – Malawi, Madagascar, Mozambique and São Tomé & Príncipe, in the wake of the COVID-19 pandemic. The programme is financed through African Development Fund resources, the concessional window targeting low income countries, and was made possible by the robust backing of Bank shareholders to its 15th replenishment, which came into effect this month. The package will support the national actions of…

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ADF approves US$9.52m for several countries to strengthen response of COVID-19 pandemic

Frank

AFRICA – The Board of Directors of the African Development Fund (ADF) have approved grants totaling US$9.52 million to strengthen responses to the COVID-19 pandemic in East Africa and the Horn, and in the Comoros. The grant is part of the US$10 billion COVID-19 Rapid Response Facility (CRF) approved by the Board of Directors in April 2020 and complements the Bank’s direct support to regional member countries across the continent. The beneficiaries are Burundi, Comoros, Djibouti, Eritrea, Ethiopia, Somalia, Kenya, Rwanda, South Sudan, Sudan, Tanzania and Uganda. Funding will also…

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Ireland inches closer to becoming member of African Development Bank Group

Frank

AFRICA – Ireland has moved a step closer to becoming a member of the African Development Bank Group. This is after a government delegation from Ireland deposited ratification instruments during an official visit to the Bank’s Abidjan headquarters. The delegation was led by Paul Ryan, Director, International Finance Division of Ireland’s Department of Finance. “Africa has been one of our key targets for development cooperation, so joining the Bank gives us the opportunity to work with the continent and share knowledge in areas such as financial technology services, energy and…

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Aliko Dangote Foundation donates US$20m to the Africa Center to support ongoing operations

Frank

USA- The Aliko Dangote Foundation has given a transformative $20 million donation to Africa Center to advance and accelerate the Center’s capital campaign, further activate its public spaces and programming, and support ongoing operations. The donation which was announced during the Future Africa Forum is believed to be one of the largest known donations of its kind by an African philanthropist to a U.S. non-profit organization In recognition of this historic donation the Center renamed its venue “The Africa Center at Aliko Dangote Hall” at a ceremony during the Future…

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