AfDB approves US$1.3m grant for research efforts to enhance women’s digital access to loans and micro-insurance

AFRICA – The African Development Bank (AfDB) has approved two grants for research that will increase African women’s access to a range of digital financial services including loans and micro-insurance. The grants, for US$1 million and US$300,000 respectively, will be disbursed through the Africa Digital Financial Inclusion Facility (ADFI), a blended finance vehicle supported by AfDB, to two financial technology firms, Pula Advisors Kenya Ltd., and M-KOPA Kenya Ltd. Pula Advisors will use the US$1 million for research of social, cultural, and economic factors that impact women farmers’ access to…

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AfDB extends US$2m grant to strengthen cybersecurity and boost financial inclusion in Africa

AFRICA – The African Development Bank (AfDB) has awarded a US$2 million grant to establish the African Cybersecurity Resource Center (ACRC) for Financial Inclusion to tackle cybercrime across Africa and to strengthen the resilience of digital financial ecosystems. The  grant will be disbursed through the Africa Digital Financial Inclusion Facility, a blended finance vehicle, which the institution supports. The project will take a three-pronged approach: creation of an affordable shared platform to monitor cyber-attacks against financial service providers and individual customers; rollout of individualized advisory services to enable  organisations to…

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AFD launches US$84m fund for renewable energy in Nigeria

NIGERIA – The Agence Francaise de Developpement (AFD) is supporting access to renewable energy for Nigerian manufacturers with €70 million (US$84.35m) under the Sustainable Use of Natural Resources and Energy Finance (SUNREF) Nigeria Programme for renewable energy. The fund would be administered through the Access Bank Plc and the United Bank for Africa Plc. The AFP described energy efficiency projects (EEP) as capital expenditure projects that would allow energy consumers to use less energy for achieving the same level of energy service. However, only renewable energy projects like solar, wind,…

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AFD, EU to finance CGECI’s renewable energy and energy efficiency projects

COTE D’IVOIRE – French Development Agency (AFD) and the European Union (EU) has signed a financial agreement with the General Confederation of Businesses in Ivory Coast (CGECI) to offer technical assistance for US$1.97 million renewable energy and energy efficiency projects for Ivorian companies. French Development Agency (AFD) plans to support Ivorian companies in their projects to acquire renewable energy and energy efficiency systems. The bank will participate in financing their green projects through the Sunref program. AFD’s green financing label aims to work with (local) banks for green growth in…

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NBE and AFD to finance climate conservation and development projects with US$119.15m

EGYPT – The National Bank of Egypt (NBE) and the French Development Agency (AFD) have signed a new credit facility agreement worth €100 million (US$119.15m) with the aim of financing climate conservation and sustainable development projects in Egypt. Chairperson of the NBE, Hisham Okasha, said that the new agreement will allow directing finance and support to the projects that are fully compatible with the sustainable development goals and the environment conservation. Fabio Grazi, Director of the AFD’s Regional Office in Egypt, affirmed the French Agency’s interest in this funding, especially…

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Housing Finance Bank, AFD sign US$12.5m agreement for affordable housing in Uganda

UGANDA – Housing Finance Bank (HFC) Uganda and Agence Française de Développement (AFD) have signed two financing agreements of US$12.5 million to support the development of a housing finance offer adapted to the needs of the people in Uganda. The US$11.8 million line of credit from AFD aims to finance the deployment of Housing Finance Bank’s housing microfinance and affordable housing offer, enabling them to diversify the mortgage loan offer to include low and middle-income populations, who currently do not have access to an adequate financial offer. “We are proud to…

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AFD provides US$117M loan for expansion of tramway lines in Casablanca

MOROCCO – The French Development Agency (AFD) and Casa Transport en Site Amenage SA have signed a loan agreement of €100 million (US$117m) to expand tramway lines in the city of Casablanca. AFD shared a statement with Morocco World News explaining that the deal seeks to support Casa Transport to establish two new tramways to improve mobility for Casablanca residents. The loan agreement includes a technical assistance grant of €5.5 million (US$6.44m). “This new financial and technical support from AFD to Casa transport consolidates the quality of their partnership relations…

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REPP invests US$355k in 1.5 MWp solar photovoltaic project to ramp up its implementation

KENYA – A 1.5 MWp solar photovoltaic project at Kiamariga village in Nyeri County, the central region of Kenya has reached its financial close following a US$355,000 equity investment by the Renewable Energy Performance Platform (REPP). REPP is a UK government-funded program dedicated to sponsoring/supporting renewable energy development projects, particularly in the growing economies such as sub-Saharan Africa. Earlier on, Sunref which is the green finance label of the French Development Agency (AFD) supporting local banks in allocating green credit in favorable conditions i.e (low-interest rates, long tenor, grace period)…

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AFD, AfreximBank launch finance facility to support climate change initiatives in Africa

AFRICA – Agence Française de Développement (AFD) and the African Export-Import Bank (AfreximBank) have announced a new facility agreement for a US$177 million financing programme that will support initiatives focused on combating climate change in Africa. The US$150 million facility will specifically support Afreximbank in the implementation of its new climate finance strategy which will target green, low carbon, socially inclusive and more resilient investments across Africa. As part of its financing programme, AFD has made available a €500,000 grant to carry out a technical assistance programme which will support…

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AFD and TDB partners to open US$150m line credit to finance infrastructure in East Africa

AFRICA – The French Development Agency (AFD), a public financial institution, has recently signed a partnership with the Trade and Development Bank (TDB) of Eastern and Southern Africa, a commercial bank owned by the member states of the Common Market for Eastern and Southern Africa (COMESA), the World Bank and China. The two development banks have just signed an agreement to open a US$150 million line of credit to finance the construction of sustainable infrastructure in East Africa. The agreement was initiated by Admassu Tadesse, Chairman and CEO of the…

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