The Board of Directors of the African Development Bank has approved a loan of €73 million to Kenya to support Phase III of the Competitiveness and Economic Recovery Support Programme. The financing will cover the fiscal year 2023-2024. It is intended to build resilience and support inclusive post-Covid-19 economic recovery, by improving economic governance and…
The African Development Bank has revised its short to medium-term macroeconomic forecast for Africa, for 2023 and 2024 downwards to 3.4% and 3.8%, from 4.0% and 4.3%. The slightly lower figures reflect the persistent long-term effects of COVID-19, geopolitical tensions and conflicts, climate shocks, a global economic slowdown, and limited fiscal space for African governments…
The Board of Directors of the African Development Bank Group has approved a €101.10 million loan to Kenya to implement the third phase of the Last Mile Connectivity Project. The project will improve electricity access for households, social infrastructure and micro, small and medium enterprises. The project will also benefit from a $13.17 million (€12.12 million) loan…
