African Development Fund backs Ethiopia-Djibouti electricity trade with US$83.6m in grants

DJIBOUTI – The Board of Directors of the African Development Bank Group (AfDB), has approved two grants worth US$83.6 million to boost cross-border trade in electricity between Ethiopia and Djibouti and to deepen integration in the Horn of Africa sub-region. The funds comprise a US$69.65 million grant to Ethiopia and the second grant of US$13.93 million to Djibouti, both sourced from the African Development Fund, the African Development Bank’s concessional financing window. The Ethiopia-Djibouti Second Power Interconnection project will entail the construction of nearly 300 km of interconnector line, 170…

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AfDB and JICA sign US$668.1m loan agreement to replenish African Development Fund

AFRICA – The Japan International Cooperation Agency (JICA) and the African Development Fund (ADF), the concessional arm of the African Development Bank Group have signed a loan agreement of US$668.1 million to support the 15th replenishment of the African Development Fund (ADF-15). During a virtual ceremony, African Development Bank Group President Dr. Akinwumi A. Adesina and Japanese Ambassador to Côte d’Ivoire Kuramitsu Hideaki signed an Exchange of Notes, while the loan agreement was signed by the JICA Chief Representative in Côte d’Ivoire, Fujino Kojiro, and Acting African Development Bank Group Senior…

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African Development Fund approves US$71.5m loan for roads in Uganda

UGANDA – African Development Bank (AfDB) affiliate The African Development Fund has approved a US$71.5 million loan for upgrading of roads in one of Uganda’s high end tourist destinations in the southwestern districts of Kabale and Kisoro. The Board of the African Development Fund (ADF) approved the loan on December 3, to pave sections of two roads which will improve road transport in the area as well as boost livelihoods, school attendance and rural connectivity, the Fund said in a statement. The money will finance the upgrading of roads and ease movement…

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

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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