AGS NEWS – The African Development Bank has inked a $75 million loan pact with Nigeria’s Indorama Eleme Fertiliser and Chemicals Limited, as per a statement on the bank’s website Thursday. The loan aims to boost Indorama’s fertiliser production capacity … Continue reading AfDB and Indorama forge deal to enhance fertiliser production
AGS NEWS – According to a recent report by the African Development Bank (AfDB), Nigeria’s economic growth is anticipated to remain sluggish in 2024, unlike other West African nations. The report indicates that while growth is projected to reach four … Continue reading Nigeria faces slowest economic growth among west african nations in 2024, says AfDB
The Africa Development Bank (AfDB) Group has granted a $175 million financial package to the United Bank for Africa (UBA) to strengthen its support for the private sector and contribute to Nigeria’s infrastructure development. The package includes $100 million in … Continue reading UBA secures $175m financial package from AfDB
The African Development Bank has successfully obtained a $1 billion guarantee from the United Kingdom, aimed at bolstering lending initiatives supporting South Africa’s transition to renewable energy and the establishment of a more sustainable economy. The bank’s lending capacity will … Continue reading UK commits $1bn to afdb in support of South Africa’s clean energy transition
The board of directors of the African Development Bank Group has given the green light for a $115 million loan to support a significant road rehabilitation project in Abia State. The project aims to rehabilitate roads, address erosion control, develop … Continue reading AfDB approves $115m loan for road rehabilitation project in Abia state
The International Finance Corporation (IFC), a member of the World Bank Group, has announced a $500 million investment in BUA Cement Plc, marking the largest-ever investment in northern Nigeria. The funding will assist BUA Cement in the development of two … Continue reading BUA cement secures $500 million facility from IFC and AfDB to establish new cement plants in Sokoto
During the annual general meeting of the African Development Bank (AfDB) held in Sharm el Sheikh, Egypt, African leaders expressed concern over the global financing architecture that is pushing several African countries into a debt trap amidst challenging socioeconomic conditions. … Continue reading African leaders call for review of global financing architecture to address debt crisis and global challenges
The African Development Bank (AfDB) has urged Nigeria and other African nations to make use of their comparative advantages to gather resources required to finance the continent’s sustainable development goals (SDGs). AfDB made this call in a statement on Tuesday, … Continue reading AfDB urges Nigeria and other African nations to explore natural resources for financing SDGs
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