African development bank

African Development Bank Commits $995,000 for Energy Access to Gambia

The African Development Bank (AFDB)- managed Sustainable Energy Fund for Africa (SEFA) approved a $995,000-grant to the Republic of Gambia.

Egypt Secured $6b IMF Funding Requirement

Egypt has managed to primarily secure the additional funding required to proceed in the International Monetary Fund (IMF) loan. Efforts exerted by both the CBE and Egyptian government resulted into securing the requested financing package of $6b.

International Group to Study Egypt’s $3.3b Solar Project

The Egyptian Minister of International Cooperation, Sahar Nasr, stated that during August, a consortium of the World Bank, the African Development Bank, in addition to German and French institutions will finalize the feasibility study of developing a 1000 MW solar plant and a facility for manufacturing solar panels, both projects worth a combined $3.3b, on loan from China.

Tanzania Launches National Sustainable Energy Initiative

Tanzanian Ministry of Energy and Mining launched the Sustainable Energy For All (SE4ALL) action agenda and investment prospectus by 2030.

Kenya Receives Loan to Develop Geothermal Energy

Kenya has received a $29.65m loan to finance its drive for geothermal energy production, as the country aims to reach the targeted 5,000 MW of power with minimal mix from thermal sources.

Nigeria Asks for $3.5b Emergency Loans from World Bank, AfDB

Nigeria’s government is in talks for concessionary loans worth $3.5b from the World Bank and the African Development Bank to help finance its planned record budget in 2016.

African Development Bank Announces $12b for Energy Projects

The African Development Bank Group has unveiled what it calls a “New Deal on Energy for Africa” to develop energy projects worth $12b by 2025.

Ethiopia Installs Green Energy Water Pumps to Isolated Rural Communities

Ethiopia’s Ministry of Water, Irrigation and Electricity announced that water pumps powered by "Green Energy" were being supplied to isolated rural communities in the country, which do not have access to the national power grid.

ADF Loan to Cover $500m Owed to Foreign Companies, Petroleum Ministry

An official source at the Ministry of Petroleum said that the ministry plans to repay $500m of Egypt’s dues to foreign partners by the end of 2015.

African Energy Deficit, at The Top of African Development Bank’s Agenda

African Development Bank President Akinwumi Adesina, who took over in September, said he’s aiming to eliminate Africa’s energy deficit by 2025 by mobilizing $55b of investment.

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