The Board of Directors of the African Development Bank Group (AfDB) has approved a three-year, $10.75 million trade finance facility for Intercontinental Investment Bank Djibouti (IIB Djibouti). This facility consists of three components: an $8 million Trade Finance Line of Credit, a $2 million Trade Finance Transaction Guarantee, and a $750,000 grant from the Affirmative… [Read More]
AfDB Launches 2025 Country Focus Reports with Emphasis on Côte d’Ivoire’s Growth Strategy
The African Development Bank launched the 2025 edition of its Country Focus Reports (CFRs) in Abidjan, starting with Côte d’Ivoire—a country projected to be one of the fastest-growing economies globally this year. The launch underscores the Bank’s commitment to supporting national-level development through data-driven insights and policy guidance. The CFRs serve as country-specific extensions of… [Read More]
Zambia’s Ilute Solar Project Secures $26.5M from AfDB’s SEFA and Global Partners
The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank, has committed $8 million as part of a $26.5 million financing package for the 32 MWp Ilute Solar Project in Western Zambia. This investment supports a new Independent Power Producer (IPP) model that aims to expand clean energy access while encouraging regional… [Read More]
AfDB Grants €19.6 Million to Boost Wind and Battery Storage in Cabo Verde
The African Development Bank Group has approved a €19.6 million financing package to support the Cabeólica Phase II Expansion Project in Cabo Verde. This initiative represents the country’s first large-scale renewable energy project that combines wind power generation with battery energy storage systems (BESS), marking a significant step toward energy transformation and sustainability. The financing… [Read More]
World Bank Approves $1 Billion to Boost Ethiopia’s Economic Reforms and Private Sector Growth
The World Bank has approved a $1 billion Development Policy Operation (DPO) to support Ethiopia’s ongoing economic reforms and promote inclusive, private sector–driven growth. This funding package—comprising a $650 million grant and a $350 million concessional credit from the International Development Association (IDA)—builds on a previous operation approved in July 2024 under Ethiopia’s homegrown Economic… [Read More]
Egypt to Receive $184.1M from AfDB for Africa’s Largest Solar and Battery Storage Project
The African Development Bank Group has approved a financing package of up to $184.1 million to support Egypt’s Obelisk project—Africa’s largest solar power initiative. The project will involve the development of a 1-gigawatt solar photovoltaic (PV) plant and a 200-megawatt-hour (MWh) battery energy storage system in the Qena Governorate, southern Egypt. The Egyptian Electricity Transmission… [Read More]
IFAD, EU Invest €4.26M to Enhance Rural Climate Resilience Through Remittances and Diaspora Support
A new €4.26 million initiative, ResilientRemit, has been launched to help thousands of rural families in Honduras, Senegal, and Pakistan adapt to climate change and strengthen their resilience to environmental shocks. Co-funded by the European Union (EU) and implemented by the International Fund for Agricultural Development (IFAD), the initiative focuses on leveraging migrant remittances and… [Read More]
Nepal Unveils $120 Million IFAD-Backed Programme to Boost Small-Scale Farming
On 30 June 2025, the Government of Nepal officially launched the Resilient High-Value Agricultural Programme (R-HVAP), a US$120 million initiative supported by the International Fund for Agricultural Development (IFAD) and Nepal. The programme aims to assist over 250,000 people from small-scale farming households in transitioning toward commercial and agroecological farming practices. The programme was launched… [Read More]
ALIPH commits $16 Million to Protect Cultural Heritage in Africa, Syria, Ukraine, and Gaza
The International alliance for the protection of heritage (ALIPH) has announced a new funding commitment of over USD 16 million to safeguard cultural heritage in Africa, Syria, Ukraine, and Gaza. This brings ALIPH’s total investment in cultural heritage protection to more than USD 116 million since its founding in 2018. Africa – Protecting Heritage from… [Read More]
$358M Climate-Resilient Dairy Initiative Launched in East Africa by IFAD and GCF
The International Fund for Agricultural Development (IFAD) and the Green Climate Fund (GCF) have launched a landmark $358 million programme to combat climate change in East Africa’s dairy sector. The Dairy Interventions for Mitigation and Adaptation (DaIMA) programme will directly benefit 2.5 million rural people across Kenya, Rwanda, Tanzania, and Uganda. As part of the… [Read More]
