Equity Bank signs yet another US$100m long-term credit from AfDB for its SME kitty

KENYA – Equity Group Plc has signed its sixth long-term credit facility, a US$100 million loan deal with the Africa Development Bank (AfDB), the latest in a series of long-term credit to allow the Kenyan lender to offer concessional medium-term loans to small and medium enterprises (SMEs). In September 2020, the bank signed a US$50 million loan facility with the International Finance Corporation (IFC), a US$100 million with French financier Proparco in October, and a US$148.5 million loan facility with the European Investment Bank in March 2021. The Nairobi Securities…

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World Bank readies Covid-19 vaccine funds for 30 African countries

AFRICA – The World Bank is preparing emergency financing to help about 30 African countries access Covid-19 vaccines, the global lender told Reuters, as the continent scrambles to secure doses and start immunising vulnerable groups. Only a few African governments have launched mass vaccination campaigns, whereas some countries in wealthier parts of the world have already administered millions of doses. Many rely on the World Health Organization’s vaccine-sharing scheme COVAX, which delivered its first doses last week with a shipment to Ghana. The World Bank said financing projects were being…

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Rwanda’s universal energy access program receives a boost from Korea

RWANDA – Rwanda’s universal energy access program (RUEAP), which is a part of the National Strategy for Transformation (NST1) 2017–2024 that aims to improve access to energy and efficiency of energy service delivery to households, businesses, and public institutions in the East African country, is set to receive a financial boost with a US$ 66.2M loan agreement signed by the Government of Rwanda and that of the Republic of Korea. The loan facility is concessional in nature and it will be repaid in 40 years timeframe including a grace period of 15…

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AFD signs three concessional loans with the government of Tanzania for development in the Lake Victoria Region

TANZANIA – French Development Agency (AFD) has signed three financing agreements with the Government of Tanzania. The French financial institution is lending US$261.25 million to improve access to electricity in rural areas and to support drinking water supply and sanitation services in the Lake Victoria region. The three concessional loans are for the implementation of several electricity and water projects in Tanzania. The first concessional loan of US$113.59 million is for the national rural electrification programme. The funds will be used to finance the second phase of a project to…

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