Latest in Tag: African Development Bank Highlight
Latest in Tag: African Development Bank

Egypt’s Irrigation Minister, Director of Water Department at the African Development Bank discuss cooperation
During the meeting, Sweilam referred to the many challenges facing the water sector in Egypt, such as the limited water resources and the negative effects of climate change, reviewing the efforts of the ministry in dealing with these challenges through the implementation of many projects in the field of water reuse, renovating water facilities, protection of beaches, and protection from the dangers of torrential rains.

African Development Bank approves $271m financing for Egypt
New finance to enhance agricultural productivity, sustainability: Al-Mashat

African Development Bank chief announces set up of youth investment banks
The banks, to be rolled out by the end of this month, will act as new financial institutions that create ecosystems of support around businesses of young people, by financing their businesses in a lifecycle model from technical assistance, to debt and equity financing, Adesina said, while speaking at the 2022 Commonwealth Business Forum in Rwanda’s capital city Kigali.

Egypt’s GDP projected to record 3% in 2021: AfDB
Country’s economy grows at slower rate than in 2019, but did not enter recession thanks to high domestic consumption

African Development Bank named World’s Best Multilateral Financial Institution 2021 by Global Finance
Bankreceived broad recognition for quick response to Africa’s needs in wake of COVID-19 pandemic

AfDB investments transform continent: ADER Report
Bank commits to Africa’s water, sanitation, health services in 2021

Egypt contributes most to Africa’s annual growth: AfDB
Earlier than expected production from Zohr gas field supports Egypt’s contribution, says AEO report

African Development Bank invests $1.7bn in Egypt’s energy sector since 2007
“We seek to implement Sahara Transformation Initiative to produce 10GW,” says Shonibare

AfDB provides EGP 10m grant to support Egypt’s entrepreneurship ecosystem
Egypt’s position in GII is advancing due to recent legislative reforms, says Blomberg

Egypt, AfDB sign EGP 80m grant for development of entrepreneurship
Supporting emerging companies is ministry’s key role to achieve economic development, job creation, support for small investors, says Nasr

AfDB to sign new entrepreneurship agreement with ASRT in November
Bank plans for regional programme gathering North Africa’s entrepreneurs, says El Sokkary

Egypt receives final $500m tranche of AfDB’s $1.5bn loan
Coming period will witness increased cooperation between Egypt, AfDB, says Nasr

AfDB, Egypt negotiate new finance agenda in 2018 : vice president
AfDB to upgrade informal settlements with $80m, says AfDB’s country manager

AfDB holds round-table for youth with the Bank’s Vice President during his visit to Egypt
During their visit to Egypt, a High-Level Delegation from the African Development Bank (AfDB), led by Khaled El Sherif, the Vice President, a round table event was organized with 20 young men and women participants of the Entrepreneurship Development Initiatives supported by the Bank under the project “Green Growth: Industrial Waste Management and SME Entrepreneurship …

High-level AfDB delegation to visit Egypt Monday for one week
AfDB’s joint venture portfolio consists of 29 projects with a total financing of $ 2.34bn, says Mokaddem

Egypt to receive third tranche of AfDB loan by February 2018
The government of Egypt has never defaulted on its debt payments to the international financial institutions, says AfDB’s resident representative

Nasr discusses $3bn cooperation strategy developments with AFDB
Final procedures for the $500m third tranche of the $1.5bn loan were discussed.

Economic ministerial group discusses the third $500m tranche of AfDB’s loan
Egypt is currently in a good position to attract more investments, says AfDB’s mission to Egypt

Petroleum Ministry to repay part of its dues to foreign partners in May
The ministry will complete the repayment of its dues after receiving the third tranche of the World Bank and AFDB loans, sources said

AfDB approves $450m trade finance package for Afreximbank
The package aims to boost intra-African trade and promote regional integration

Egypt to receive 2nd tranche of AFDB loan within two weeks: AFDB
The government also called for AFDB to finance a sewage plant in Abu Rawash

Egypt to receive 2nd tranche of African Development Bank loan
On Monday, the Minister of International Cooperation Sahar Nasr signed an agreement with Leila Mokaddem, resident representative of the African Development Bank (AFDB) to receive $500m as the second tranche of a $1.5bn loan. The loan was agreed on last year. The tranche will be given to Egypt in January 2017, according to Prajesh Bhakta, …

External debt: a tricky, dangerous route towards reform
Egypt’s negotiations for loans from the International Monetary Fund, World Bank, and the African Development Bank would increase the country’s external debt to approximately $70bn. Yet, the government views the loans as a way for reforming poor economic conditions that have plagued the country since 2011, and a tool to attract foreign investment. Essentially, …

AFDB to approve the second tranche of loan to support budget before end of 2016
AFDB funds Egypt with $800m annually, including the second and third tranches of budget support

World Bank, AFDB mission to visit Egypt to discuss granting second tranche of fund
The mission will provide the second tranche of funding from the two banks, which includes $1bn from the World Bank and $500m from the AFDB

Egypt to implement new healthcare system in current FY: El-Garhy
AfDB agrees to provide grant to finance actuarial studies for new healthcare system

Are Egypt’s economic reforms enough to solve the informal economy problem?
Egypt’s informal economy has grown as a result of dysfunctions in the formal economy, which lacks dynamism, flexibility, and resilience

World Bank and AFDB reports put CRCICA in line with international standards
An official at the Cairo Regional Centre for International Commercial Arbitration (CRCICA) said that two confidential reports from the World Bank and the African Development Bank (AFDB) showed that the CRCICA is independent from all parties and fits within the international standards for foreign arbitration. He told Daily News Egypt that the World Bank was …

Egypt’s government adopts holistic approach to reform the energy sector: AfDB
AfDB hopes reducing energy subsidies in Egypt to 3.3% in FY2016

Egypt received first $500m portion of loan from AfDB: Amer
The CBE awaits the first portion of the loan agreed upon with the World Bank, which will be worth $1bn, to support the foreign exchange reserves