Governments of Rwanda, Germany sign US$93m agreement for ICT, green investment and SMEs support

RWANDA – The government of Rwanda and Federal Republic of Germany, have signed two agreements worth €78 million (US$93.4 million) to support key areas that are critical to the attainment of Rwanda’s development objectives. The financing and technical cooperation agreement is the outcome of the Inter-Governmental Negotiations that were concluded in 2020 between the two governments. US$70.6 million of the grant agreement will be provided through KFW Development Bank and will support various initiatives including technical and vocational training, promotion of export oriented SMEs, through the support to Export Credit…

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FEI secures US$24m from KfW to meet the rising demand for energy across Africa

AFRICA – The Facility for Energy Inclusion (FEI), a debt financing facility for small-scale energy access projects has received a further US$24 million subscription by KfW, a German state-owned development bank. With this additional allocation, KFW on behalf of the German Ministry for Economic Cooperation and Development (BMZ) has now committed a total of US$52 million to FEI, bringing FEI’s total equity based to ca US$145 million and the total potential Fund size to just under US$400 million. FEI has now reached Final Close of its equity. The commitment by…

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Impact investor REGMIFA secures US$24m from KfW to promote private investment

AFRICA – REGMIFA, an impact investment fund advised by Symbiotics, has attracted a further EUR20 million (US$24.31m) from German-based KfW to promote private investment under the G20 Compact with Africa program initiated under the German G20 presidency. KfW manages this investment on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ). KfW increased its investment in REGMIFA to help finance small and medium enterprises with the objective to create jobs in nine countries in Sub-Saharan Africa that have joined the Compact with Africa. The investment will finance…

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Development Bank of Namibia and Germany’s KfW sign agreement to finance SMEs

NAMIBIA – The Development Bank of Namibia (DBN) and the Development Bank of Germany (KfW) have signed a loan agreement in which KfW will provide refinancing for DBN’s non-agricultural small business loan scheme. The loan scheme aims to form an integral part of Namibia’s Ministry of Finance’s “Economic Stimulus and Relief Package to Mitigate the Impact of COVID-19″. The interest-reduced loan amounts to approximately US$30.81million and DBN will provide the actual loans to non-agricultural SMEs that have experienced significant losses of income as a result of the COVID–19 pandemic.  The relief measure is aimed at supporting…

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German development agency KfW supports rural water access in Morocco

MOROCCO – German development agency, KfW has given the Kingdom of Morocco a €30 million loan (about US$35.3 million) for projects that will improve water access in the Maghreb country’s rural areas. The loan beneficiary Morocco’s Office national de l’électricité et de l’eau potable (Onee) plans to build small water pumping stations, reservoirs for storage, as well as pipelines for distribution. At the moment, the capacities of the various installations have not yet been revealed, but construction work is expected to begin before the end of 2020. KfW in a…

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Government inaugurates new drinking water facilities in Zorofla

COTE D’IVOIRE – Côte d’Ivoire’s Minister of Hydraulics, Laurent Tchagba has inaugurated a new drinking water supply system (AEP) in Zorofla, a village located in the sub-division of Kanzra. Speaking during the project’s commissioning, Laurent Tchagba, said that the system will improve access to drinking water in the Village which had for a long time got it water supply from ponds, well, or from outdated human powered pumps. The newly commissioned water supply system comprises of a groundwater pumping system that that delivers waters to a 50 m3 water tower.…

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Multiconsult to set floating solar PV in three dams funded by KfW

KENYA – Kenya Electricity Generating Company (KenGen) is contemplating the installation of floating solar plants in three of its key hydropower dams, which specialists say is a more economical option for renewable energy than land-based solar farms. Norwegian firm Multiconsult is set to conduct a pre-feasibility study for the floating solar PV (F-PV) project which will contribute to a more flexible and sustainable energy system in Kenya. The floating solar plants project includes the three dam reservoirs, Kamburu, Kiambere and Turkwell in Kenya. Multiconsult will review the power infrastructure at…

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DEG to support Helios Tower in the issue of its second bond

AFRICA – German Investment Cooperation (DEG), a Development Finance Institution and a subsidiary of KfW Group is supporting its long-standing customer, the African communications infrastructure provider Helios Towers, in the successful issue of the second bond in its corporate history. The funds raised by Helios Towers will serve to improve and stabilise the company’s current financing structure. The bond replaces an existing bond that was set to mature in 2022, among other things. The placement also gives the company more liquidity for future investments. Helios Towers has specialised in building,…

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Facility for Energy Inclusion attracts US$160m in commitments for small-scale renewable energy

Ethiopia secures US$165M in grant funds from AfDB to bolster COVID-19 emergency response efforts

AFRICA – The African Development Bank (AfDB), the European Commission, KfW, the Clean Technology Fund, Norfund, and other investors have committed US$160 million to the first close of the Facility for Energy Inclusion (FEI). FEI is a targeted US$400 million fund to improve energy access across Africa through small-scale renewable energy and mini-grid projects. Spearheaded by the AfDB, FEI serves as a financing platform to catalyze financial support for innovative energy access solutions. The bank, as the Facility’s anchor sponsor, has put up US$90 million in financing. That sum includes…

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Eranove wraps up financing for its 390 MW power plant in Côte d’Ivoire

CÔTE D’IVOIRE – The Pan-African industrial group Eranove, the International Finance Corporation (IFC), member of the World Bank Group, and the State of Côte d’Ivoire have signed the agreements and all the documentation for the mobilization of funding of US$44.64 million for the construction of a new power plant in Côte d’Ivoire. Financial mobilisation was carried out by the IFC from the African Development Bank (AfDB); the Deutsche Investitions- und Entwicklungsgesellschaft (DEG), a subsidiary of the Kreditanstalt für Wiederaufbau (KfW) Group and the German development agency. The Netherlands Development Finance…

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