Browsing: AfDB

African Development Bank financing for this program represents one of the Bank’s most ambitious operations in terms of scale and scope to date. It is made up of an African Development Bank loan of $160 million and an Africa Growing Together Fund loan of $50 million. Phase 1 of the project will target seven Nigerian states and the country’s Federal Capital Territory.

The policy framework is the result of a series of internal and public stakeholder consultations that began in December 2019. This process was part of the third policy review of the Bank’s Independent Review Mechanism and marked the first time that the IRM has engaged in such a comprehensive public consultation process.

Speaking at Sahara Group’s 25th Anniversary celebration, Adesina emphasized the need for Africa to achieve universal access to electricity as soon as possible.   He urged Sahara Group to sustain its role in setting industry standards for environmental sustainability, spearheading the transition to renewable energy, and accelerating affordable electricity access to low-income households and small and medium size enterprises.

According to a statement by the regional bank, this year’s theme: “Building Resilient Economies in Post Covid-19 Africa,” will provide a platform for the Bank’s governors to share their experience in addressing the pandemic and the policy measures they are employing to rebuild economies and livelihoods.