Browsing: infrastructure in East Africa

The French Development Agency (AFD) signed a partnership with the Trade and Development Bank (TDB) of Eastern and Southern Africa to open a $150 million line of credit to finance sustainable infrastructure in East Africa.

Trade and Development Bank (TDB) is a commercial bank owned by the member states of the Common Market for Eastern and Southern Africa (COMESA), the World Bank and China.

The agreement was initiated by TDB’s chairman and CEO  Admassu Tadesse and Ghislain de Valon, Director of AFD in Kenya. According to the  French Development Agency, the aim of the credit line is to support Trade Development Bank in its role as a leading regional bank for climate finance in the region it serves (East Africa).

The funding will also increase the Trade and Development Bank’s supply of climate finance, directly contributing to the achievement of the objectives set out in the National Climate Change (NCC) …

Infrastructure, is one of the most critical enablers of a successful regional integration.

This is because infrastructure is vital in facilitating activities such as trade, agriculture, tourism and the movement of labour and other resources.

It is in this breath that the World Bank has provided $425 Million to Support the Provision of Infrastructure Financing in Eastern and Southern Africa.

The funds provided through the International Development Association (IDA) will be channeled towards the support of the provision of infrastructure finance in Eastern and Southern Africa. The Regional Infrastructure Financing Facility project (RIFF) aims to expand long-term finance to private firms in selected infrastructure in the power sector, as well as in the transport, logistics and social sectors. This is the first regional facility of this kind in Africa.

According to a statement from the World Bank, Eastern and Southern Africa still suffers from ailing infrastructure, especially in the …