The African Development Bank Group has signed two separate grant agreements with the Government of Ethiopia. The $118 million grant will support new projects to boost youth employment and electricity trade between Ethiopia and Djibouti.
- The grants fall under the Bank Groups concessional lending window, the African Development Fund, and will go towards the Productivity Enhancement to Support Agro Industrial Parks and Youth Employment Project worth $47 million, and the $71 million Ethiopia-Djibouti Second Power Interconnection Project, which aims to boost electricity trade between Ethiopia and neighbouring Djibouti.
- The industrial parks and youth project will see the development of irrigation and water management infrastructure around the Integrated Agro-Industrial Parks, offering opportunities for graduate agri-preneurs to establish agro-related, commercially viable businesses.
The prominent projects and supports by AfDB are featured below:
May 2021: The African Development Bank Group for electrification has approved $84.22 million loans to Rwanda. The project will helps to upgrade, rehabilitation and extension of 1,720 km of low voltage network, and distribution of transformers in south Rwanda.
May 2021: The Government of Tanzania, and the African Development Bank Group have signed a USD 140 million loan agreements to construct a hydropower plant. The fund will helps to construct a 50-megawatt Malagarasi hydropower plant in Western Tanzania.
April 2021: To enhance child nutrition, the African Development Banks (AfDB) financing arm African Development Fund has approved a grant of $31.2 million to the Government of Ethiopia. The fund will increase access to multi-sectoral nutritional services for children under-five years.
March 2021: In process to boost transportation infrastrure , the African Development Bank has signed a $229.5 million financing agreement with the Government of Uganda. The fund will cut travel time and enhance trade along with neighbouring countries.
March 2021: To boost energy infrastructure in Angola, the African Development Bank has committed $530 million. The fresh finance helps in the construction of a 343 km, 400 kV central-south transmission line, that will connect the north and south transmission grids in Angola.
March 2021: For the production of sustainable energy in Egypt, the African Development Bank has approved a $27.2 million in loan for the design, construction and operation of solar power plant at Kom Ombo. The 200 MW photovoltaic power plant is located in Upper Egypt on the river Nile.
Feb 2021: In order to accelerate agricultural produce the Government of South Sudan has signed an agreement with the African Development Bank and UNs Food and Agriculture Organization (FAO). As per agreement they will disburse a $14 million grant to enhance agricultural productivity and boost the marketing and trade of agricultural products.
Dec 2020: For the development of livestock and agriculture the Government of Burundi had signed two grant agreements with the African Development Bank for a total amount of $21 million. The new funding will support the sustainable development of agricultural and food value chains in the country.
Dec 2020: To boost private sector African Development Bank approved the Lusophone Compact Guarantee Program (LCGP), with a maximum risk exposure of up to EUR400 million. The new program is designed for new non-sovereign operations (NSOs) in the Lusophone countries of Africa, notably Angola, Cabo Verde, Equatorial Guinea, Guinea- Bissau, Mozambique, and São Tomé and Príncipe
Nov 2020: To boost renewable energy in Africa, the African Development Bank had approved a $120 million loan to fund the construction of a 50 MW hydropower plant in Western Tanzania.
Nov 2020: To boost information communication technology in Rwanda, the African Development Bank had signed a grant agreement with the Ministry of ICT and Innovation to support the Rwanda Coding Academy.
Nov 2020: Africa African Development Bank had approved, additional funding of approximately $137 million to the support program for improving social protection implemented in Morocco (FA Covid-19).
Sep 2020: African Development Bank had approved, approximately $ 142 million to the Democratic Republic of the Congo, under the Program d budget support in response to the Covid-19 crisis (PABRC).
July 2020: African Development Bank had granted an aid of $68 million to Benin, Togo and Guinea to fight Covid-19 pandemic (PARCovid-19). The funds drawn through Transition Support Facility (TAF-Pillar I), a bank financing mechanism intended for fragile and transition countries to provide an emergency response to the health and socioeconomic crisis.
July 2020: African Development Bank had approved a loan of approximately $288 million to the government of South Africa to fight against COVID-19 pandemic. South Africa battles one of the largest COVID-19 caseloads in the world.
July 2020: The African Development Fund (ADF) is a concessional financing window of the African Development Bank, had approved a grant of approximately $165 million to support Ethiopias response to the health and economic impacts of the COVID-19 pandemic.
June 2020: African Development Bank had approved approximately $254 million loan to finance Egypts Electricity and Green Growth Support Program (EGGSP).
June 2020: African Development Bank had announced around $1.2 million grant to Ethiopia to finance a feasibility study into a standard-gauge railway (SGR) link between Ethiopia and neighbouring Sudan.
June 2020: African Development Bank approved, in Abidjan, a loan of approximately $200 million to Tunisia to finance the program to support the response to Covid-19 by the social inclusion and employment (PARISE).
June 2020: African Development Bank (AfDB) had approved a loan of approximately $95 million to Senegal, hit hard by the novel coronavirus pandemic, in support of the costs of its national COVID-19 Economic and Social Resilience Program.
May 2020: African Development Bank had approved $203 million loan to support the Government of Kenyas efforts to respond to the COVID-19 pandemic and mitigate the related economic, health and social impacts.
April 2020: Sustainable Energy Fund for Africa (SEFA), which is managed by African Development Bank, had approved around $760,000 grant to Empower New Energy AS (EmNEW) , to develop small renewable energy projects across Sub Saharan Africa. As per agreement EmNEW has to develop at least eight small renewable energy projects with capacity ranging from1-10 MW.
April 2020: African Development Bank Group had announced the creation of the COVID-19 Response Facility to assist regional member countries in fighting the coronavirus pandemic.
About African Development Bank (AfDB)
African Development Bank (AfDB) Group is a multilateral development bank, headquartered in Abidjan, Côte dIvoire. AfDB was established in 1963 by the Organization of African Unity (OAU) to promote sustainable economic development in the region. The main objective is to spur sustainable economic development and social progress in its regional member countries (RMCs), and finally help in poverty reduction.