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Nigeria’s Access Bank and the United States International Development Finance Corporation (DFC) have signed a commitment letter for a $280 million financing to assist in tackling the gap in financing for small- and medium-sized enterprises (SMEs).…
- The multi-phase project will provide water to the Gauteng region of South Africa and generate hydroelectricity for Lesotho.
- The Lesotho Highland Development Authority will implement the part of the project that falls within Lesotho’s borders.
The board of directors of the African Development Bank Group has approved a loan of $86.72 million to co-finance the second phase of the Lesotho Highlands Water Project.
In a statement, AfDB said the multi-phase project will provide water to the Gauteng region of South Africa and generate hydroelectricity for Lesotho.
The project entails harnessing the waters of the Senqu/Orange River in the Lesotho highlands by constructing a series of dams for the mutual benefit of the two countries.
The Trans-Caledon Tunnel Authority, a state-owned entity in South Africa charged with financing and implementing bulk raw water infrastructure projects, will use the funds to construct the Polihali Dam and reservoir, a 38 kilometer-long water transfer …
Tanzania and World Bank have been close development partners for more than 54 years, and throughout the years—Tanzania has benefited from several funds that tap into the core of transforming the development landscape in one of the largest economies in East Africa.
According to World Bank, in the last 50 years, the cooperation between the Bank Group and the Government has grown in financing, grants, policy advice, and research; covering various areas from macroeconomic management to projects in transport, energy, education, health, and other key sectors for both Tanzania Mainland and Zanzibar’s development.
Recently the government of Tanzania has experienced a hard-time securing a $500 million education loan from World Bank, scheduled to revitalize the crucial sector in Tanzania.
The loan could be largest financial assistance provided to Tanzania within the past three years aimed at the education sector.
And yet—the loan has been delayed, in the wake of human …