AfDB to aid African Projects

The African Development Bank (AfDB) has approved combined loans and grants of $428.43m to finance a number of projects across eight African countries.

The projects will cover energy, infrastructure, transport and water and will be based in Ghana, Tanzania, Zimbabwe, Guinea Bissau, Guinea, Senegal and Cote d’Ivoire.

Among those set to benefit are Ghana Airports Company, which will receive a loan of $120m to finance its capital investment programme which entails the construction of a new terminal at Kotoka International Airport in Accra and the rehabilitation of other airports at Kumasi, Temale, Ho and Wa.

In Tanzania, the money will help finance phase two of the Dar es Salaam Bus Rapid Transit Project.

Zimbabwe will receive a $16m grant from the resources of the Zimbabwe Fund to finance the second phase of the country’s Urgent Water Supply and Sanitation Rehabilitation project to be implemented in Harare, Chitungwiza, Ruwa and Redcliff.

In August, the Africa50 fund alongside the AfDB raised $830m for infrastructure investment across the continent.