Tag: Development finance

FG cancels $717.7 million World Bank power sector loan
BusinessTechnology

FG cancels $717.7 million World Bank power sector loan

The Federal Government of Nigeria has cancelled $717.7 million in undisbursed financing tied to a World Bank-backed electricity reform programme. The funds were part of a broader intervention designed to stabilise Nigeria’s power sector and reduce long-standing financial pressure on public finances.  The decision was taken jointly with the World Bank after both sides agreed to discontinue the remaining portion…

Oluwatosin Alao Oluwatosin Alao
Africa-Finance-Corporation
BusinessHot News

AFC secures $100 million India Exim Bank loan for African projects

Africa Finance Corporation lands a $100 million India Exim Bank facility to expand infrastructure, energy and industrial projects across Africa.

Timilehin Adejumobi Timilehin Adejumobi
World Bank funding for Egypt Housing plan to hit $1 billion by 2026
BusinessHot News

World Bank expands Egypt affordable housing fund to $1 billion

Egypt is expanding its push to provide affordable housing, backed by deeper support from the World Bank Group. The lender is increasing its total financing for the government’s “Housing for All Egyptians” program to $1 billion, reinforcing a project that has helped reshape the country’s mortgage market over the past decade.  The additional funding comes as demand for low-cost housing…

Oluwatosin Alao Oluwatosin Alao
Africa Finance Corporation
BusinessHot News

AFC lands $524 million Samurai funding for major Africa infrastructure upgrades

AFC boosts infrastructure financing with a new Samurai facility.

Timilehin Adejumobi Timilehin Adejumobi