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Browsing: Development Bank of Southern Africa (DBSA)
A global coalition of public development banks today emphasized the urgency of immediate resources for Africa’s recovery post-Covid 19. Together, they committed to deepening cooperation to boost investment opportunities across the continent.
Participants in the meeting, hosted by the African Development Bank, brainstormed on joint actions that could help boost a strong and inclusive recovery in Africa. This would be recovery grounded in a dynamic private sector. The African Association of Development Finance Institutions co-organized the meeting in collaboration with the International Development Finance Club, which is hosted by the Agence Française de Développement.
The meeting was held virtually and follows the first Finance in Common Summit held in November 2020. At that summit, public development banks committed to work together to support the transformation of the global economy and society towards sustainable and resilient development.
During the three principal sessions of the meeting, heads of public development banks and …
Development Bank of Southern Africa (DBSA) gave $81.30 to Mozambique’s national energy utility, Electricidade De Mocambique (EDM) for the rehabilitation and upgrading of the energy supply network.
This financing support is in line with Mozambique’s 2030 plan to upgrade its power network for it to provide universal electricity access.
Electricidade De Mocambique has launched several projects focusing on strengthening the transmission grid and improving distribution capacity in the country.
Phase one is ready for implementation. It comprises of two out of twelve projects located at Pemba City and Maputo City at an estimated cost of $81.30 million.
Also Read: African Development Banks and ABSA sign Risk Participation Agreement
The DBSA loan facility will be advanced directly to EDM as a 15-year senior debt facility.
Banco Nacional de Investimento (BNI), Mozambique’s development bank served as the project’s evaluation partner and providing capital raising and advisory services.
Development Bank of Southern Africa …