UK announces USD$100 million in Zimbabwe development loans

UK announces USD$100 million in Zimbabwe development loans

The UK’s development finance institution, CDC, and Standard Chartered Bank today announced an up to USD$100 million in investment funding to grow businesses in Zimbabwe – a move that heralds a new start for the country as the UK has long withheld support while awaiting economic and social reforms. The…

World Bank promises $180 million for Kenya’s energy sector

World Bank promises $180 million for Kenya’s energy sector

The World Bank has approved USD$180 million in loan guarantees to boost Kenya Electricity Generation Company Limited (KenGen) and the country’s energy sector. The KenGen project, supported by private sector financing, will build on Kenya’s progress in diversifying its energy sources – including geothermal power – while bringing much needed…

Japan commits USD$700 million to African Development Fund

Japan commits USD$700 million to African Development Fund

In a first for Japan, the country’s International Cooperation Agency (JICA) has signed a new loan agreement with the African Development Fund to provide USD$700.9 million to address poverty and support economic growth. “We hope the loans and grants will be used effectively to improve economic and social conditions of…

Mauritius to support farmers hard-hit by cyclone flooding

Electricity has been restored, water supply is intact and officials on Mauritius have identified roads and drainage systems needing repair because of Cyclone Berguitta – but food supply remains a problem in the short term. Heavy rainfall impacted farmers and about 75 percent of local vegetable production, said Mahen Kumar…