Monday, October 14, 2019

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Article Index

C. African Development Bank

Key 2011 projects of the African Development Bank (AfDB) include: an agreement to lend Egypt USD 550 million to help finance a steam electric generator in Suez (Egypt); USD 500 million set aside for debt forgiveness (Zimbabwe); approval of USD 200 million for Kenyan projects (Kenya); a USD 45 million loan for a power plant (Cameroon); and approval of USD 700 million to support the growth of Small and Medium Enterprises (SMEs) (Nigeria). On December 6, 2010, AfDB approved a loan of over EUR 28 million and a grant of EUR 4.5 million to Niger to support its poverty reduction program; on the same day, in Cancun, Mexico, the AfDB joined representatives from other multilateral development banks (MDB) in a joint event on Scaling-up International Climate Finance during the ongoing COP16 Climate Conference. It was an opportunity to share with stakeholders how MDBs are collaborating to expand access to international financing and bolster investments in climate change mitigation and adaptation.

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