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IMF approves $76.3mln credit facility for Cameroon

The Executive Board of the International Monetary Fund (IMF) has completed the third review of the 3-year economic program (2017-19) under the Extended Credit Facility (ECF) for Cameroon and granted the country about $76.3 million. According to the Washington-based lender, it is crucial for Cameroon to address revenue shortfalls and contain investment spending in order […]

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AfDB, Entreprenarium launch master classes for 200 women entrepreneurs

The African Development Bank, as part of its Initiative to Support Access to Women in Africa (AFAWA), in partnership with Entreprenarium, has launched training sessions for 200 women entrepreneurs in Côte d’Ivoire. Masterclasses in business management and financial planning will be conducted by Entreprenarium at the Bank’s premises, benefiting 100 women entrepreneurs. A second masterclass […]

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Angola: IFAD supports agriculture projects with $7.6 million

The International Fund for Agricultural Development (IFAD) will support the Angolan Government in the implementation of the Agricultural Recovery Project, with a $7.6 million financing, to be implemented in eight municipalities in the provinces of Benguela, Cunene and Huíla. This was revealed during a meeting between the Minister of Agriculture and Forestry, Marcos Alexandre Nhunga, […]

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Cameroon receives €150 million from AfDB to support competitiveness, growth

As a continuation of the first phase of the Program to Support Competitiveness and Economic Growth in Cameroon (PACCE I), the Board of Directors of the African Development Bank has approved a loan of €150 million to start the second phase of this initiative. This comprehensive reform program is a three-year budget support operation running […]

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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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