Home » Posts tagged with » World Bank

Botswana announces massive investments in renewable energy

The government of Botswana has recently reached an agreement with the World Bank to develop a national strategic plan for the development of renewable energy in the southern African nation. The announcement was made by President Mokgweetsi Masisi last weekend in capital city Gaborone. The government would make massive investments in solar energy in order […]

Guinea gets $106 million to develop off grid projects

In Guinea, the World Bank and the French Development Agency (AFD) will support electrification projects in the capital city Conakry, and develop off grid in more remote areas. The World Bank and AFD have lent $50 million and $56 million respectively to the West African nation to rehabilitate and extend the electricity transmission network. The […]

Read More

AfDB, World Bank commit more funds for renewable energies in Africa

The African Development Bank (AfDB) will soon launch ‘Green Baseload’ Facility to provide concessional finance to support reliable and affordable renewable energy, the bank’s president Akinwumi A. Adesina said. Speaking at the One Planet Summit in Nairobi, Adesina said that the Bank would commit at least US$25 billion towards climate finance. In his words, the […]

Read More

World Bank Injects $50 Million to Improve Southern Africa Agriculture Productivity

Efforts to improve agriculture productivity in Southern Africa got a boost following the World Bank Board approval this week of a $50 million project to increase the availability of agricultural technologies in Angola and Lesotho. According to a WB press release, this will be done under the ongoing World Bank financed Agriculture Productivity Program for […]

Read More

Senegal to build sustainable digital economy with World Bank support

The World Bank Board of Directors has approved a $180 million International Development Association (IDA) credit to support Senegal’s efforts to enhance the policy and institutional framework of the energy and the Information and Communication Technologies (ICT) sectors and to build a sustainable digital economy. The multi-sectoral structural reform Development Policy Financing (DPF) operation has […]

Read More

Nigeria: Less than 2 percent GDP growth in 2018 – World Bank

Nigeria’s economy is expected to post less than 2 percent growth this year. The growth is largely driven by the non-oil industry and service sectors, the World Bank said on Wednesday. Nigeria’s emergence from recession last year remains sluggish, and sectoral growth patterns are unstable. In the second quarter of 2018, the oil sector contracted […]

Read More

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 […]

Read More

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 […]

Read More

EU to provide €100 million to Somalia

The EU and Somalia signed Sunday (Oct. 14) an agreement to provide €100 million to the Somali budget over the next two and a half years. These funds will support the Federal Government’s reforms to build a unified, federal state. Somalia is on a positive track towards stability and growth. The EU’s move to budget […]

Read More

Nigeria: Buhari asks lawmakers to approve $2.79 bln Eurobond

Nigerian President Muhammadu Buhari on Tuesday asked lawmakers to approve the issuance of a $2.79 billion Eurobond. According to Buhari, the Eurobond will help Africa’s most populous nation implement its new external borrowing that had already been approved in the 2018 budget to help cope with the budget deficit and fund infrastructure projects. In its […]

Read More