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Russian bank ‘mistakenly’ grants $12bn loans to CAR

Vneshtorgbank, Russian Foreign Trade Bank, mistakenly assigned a $12 billion loan to the Central African Republic. The loan was mentioned in a quarterly VTB financial report published by the Russian central bank. In that report, there was a chart listing VTB’s outstanding loans to a dozen countries. In the chart, next to the Central African […]

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Tunisia to receive $500 million Saudi loan

Saudi Arabia will give Tunisia a $500 million loan at a favorable interest rate, Reuters reported on Wednesday. According to Nourredine Ben Ticha, an advisor to the president, Tunisia will announce in a few days important deals with Saudi Arabia, including a loan with low interest rate, agreements on investment and other important details. Tunisia […]

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Africa Day: EIB releases a new study on banking in Africa

The European Investment Bank has released its new study on banking in Africa. The report tittle “Banking in Africa: Delivering on Financial Inclusion, Supporting Financial Stability” was released on the sidelines of the Africa Day celebrated in the Ethiopian capital, Addis Ababa. This fourth edition analyses recent development in the African banking sectors, including through […]

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WAMU: Three Moroccan banks in the top 5

Three Moroccan banks have positioned themselves in the top 5 banking groups in the West African Monetary Union (WAMU), Ecofin news Agency reported. These are BMCE Bank Group, Attijariwafa Bank, and Groupe Banque Centrale Populaire. They made the move after making acquisitions in Mali, Senegal and Côte D’Ivoire. The Bank of Africa group, owned by […]

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AfDB marks Toilet Day with $500 million commitment to new sanitation funding

As the African Development Bank joined the international community to observe World Toilet Day on November 19, the organization is putting considerable financial muscle into the global effort to improve toilets, and sanitation in general. The Bank partnered with the Bill and Melinda Gates Foundation and other multilateral development institutions in Beijing, 6-8 November in […]

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Kenya gets new €235 million loans to complete Thwake dam

The African Development Bank (AfDB) has approved two loans worth €235.763 million for the completion of a dam on Thwake River in southern Kenya.   According to the bank, the loan was requested by Kenyan authorities as an additional support to a €76 million loan granted by the Bank in 2013 to start building of […]

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World Bank Supports Efforts to Upgrade Djibouti Slums

The World Bank Friday approved an International Development Association (IDA) package of $20 million to support Djibouti’s efforts to improve the living conditions for residents of urban areas, achieve its Zero Slum strategy. Funded with a US$20 million from IDA, the World Bank’s fund for the poorest countries, combining credit and grant, the Integrated Slum […]

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Kenya to raise $2.8 bln from Eurobond, loans

Kenya is looking forward to raise $2.8 billion from Eurobonds in the coming months. This will be Kenya’s third Eurobond quest since 2014. The country plans to raise $2.8 billion despite the International Monetary Fund’s concerns that the country is at risk of over-indebtedness. The Washington-based lender urged the state to refinance debt using concessional […]

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Ethiopia gets $1.2 bln loans, grants from World Bank

The World Bank has approved $1.2 billion in grants and loans to Ethiopia, the Washington-based lender said in a statement. According to the bank, the $600 million grant and $600 million loan will finance reforms in the financial sector and improve investment climate. The financial boost will also help promote public-private partnerships to improve efficiency […]

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Nigeria: Controversy over a video of Kano governor ‘collecting $5m bribe’

Kano state governor, Abdullahi Umar Ganduje, is the subject of a parliamentary probe following reports alleging he had received from contractors bribes amounting to $5 million. The information has been released by Ace Nigerian journalist Jafar Jafar who has insisted on the authenticity of a video that showed a governor taking monies said to be […]

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