The East African countries look to borrow more than $750 million in syndicated loans to cushion the economic impact of the Coronavirus pandemic as Kenya, Uganda, South Sudan, and Tanzania have all been seeking either syndicated loans or special drawing rights from the International Monetary Fund (IMF), as they seek to revive economies experiencing the pandemic-induced shocks.
Browsing: AfDB
Africa’s economy contracted by 2.1% in 2020 following the COVID-19 pandemic. The African Development Bank (AfDB) has projected a 3.4% recovery in 2021 as most African economies are reshaping for growth and stability.
The debt spiked up in the full year of 2020 due to the covid-19 impact on the economy, which resulted in increased borrowing from the Bretton Wood Institutions, as well as the African Development Fund.
Morocco’s energy service firm, Société d’Ingénierie Energétique (SIE), has obtained a $965,000 grant from the African Development Bank (AfDB) to support its growth plans. The AfDB,…
This will enhance agricultural productivity, and boost marketing and trade of agricultural products in the North African country.
The African Development Bank (AfDB) has committed an additional $12.5bln to climate finance between 2020 to 2025 in Africa. President of the AfDB, Dr Akinwumi Adesina,…
AfDB will also dedicate efforts to creating opportunities for women in the non-financial sectors.
The African Development Bank (AfDB) on Thursday says it has appointed Senegalese economist, Aissa Toure, as the Country Manager for Rwanda. An economist and development expert,…
The African Development Bank (AfDB) has approved a grant for a $14.96m for a project which will help women in Sudan access finance and grow their…
Dr Akinwumi Adesina, the President of African Development Bank (AfDB), has been named winner of Academy of Public Health’s 2020 Distinguished Fellowship Award. The fellows are…