African Development Bank to fund the construction of the Laropi-Moyo-Afoji and Katuna-Muko-Kamuganguzi road Kampala, Uganda | ISAAC KHISA | Uganda has secured a US$252bn (Approx. Shs 958bn) loan from the African Development Bank to fund the construction of the Laropi-Moyo-Afoji and Katuna-Muko-Kamuganguzi road. The lender’s board of directors approved the loan …
Read More »Uganda-Kenya Expressway at Busia in pipeline
Boost for Northern Corridor as AfDB approved US$1.4 million last month for feasibility study of the multinational Kenya-Uganda Expressway project Jinja, Uganda | THE INDEPENDENT | The plan to construct a super highway connecting Uganda and Kenya could become a reality, following the financial intervention of the African Development Bank (AfDB). The …
Read More »AfDB unveils capacity building initiative to enhance trade in E. Africa
Kampala, Uganda | THE INDEPENDENT | Africa’s multilateral lender, African Development Bank is partnering with the East African Community (EAC) Secretariat and the United Nations Conference on Trade and Development to launch a capacity development project to enhance trade in East Africa. The $1.56M EAC Trade Portal Enhancement Project will support …
Read More »Africa’s food and agribusiness industry set to hit US$1 trillion mark by 2030
Despite being home to 65% of the world’s remaining uncultivated arable land, Africa still imports most of its food Kampala, Uganda | RONALD MUSOKE | Africa’s food and agribusiness industry is set to reach US$1 trillion mark by 2030, Dr. Akinwumi Adesina, the President of the African Development Bank (AfDB) told …
Read More »How Uganda can attract private money to fight climate change
AfDB shows innovative financing tools it should focus on for green growth cash Kampala, Uganda | RONALD MUSOKE | The Ugandan Government needs to integrate innovative financing tools; including green bonds, carbon markets, debt-for-nature swaps and blended financing if it is to start attracting more private resources urgently needed in Uganda’s …
Read More »AfDB approves Shs 11bn fertilizer deal for Ugandan farmers
Studies show Uganda has one of the highest soil nutrient depletion rates in the world Kampala, Uganda | RONALD MUSOKE | The African Development Bank Group’s Board of Directors has approved a project that seeks to procure 60,000 metric tonnes of fertilizer for 400,000 Ugandan smallholder farmers over the next three …
Read More »Natural resource-backed loans a disaster for Africa-IMF
Africa is grappling with mounting debt crisis, with total external debt surpassing the US$1 trillion-mark last year Kampala, Uganda | RONALD MUSOKE | Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), has publicly endorsed the recent call by the African Development Bank Group, urging African governments to refrain …
Read More »AfDB launches US$1bn climate insurance facility
Africa is expected to be disproportionately affected by climate change, despite accounting for less than 3% of the world’s energy-related carbon dioxide emissions ANALYSIS | AGENCIES | The African Development Bank (AfDB) has unveiled an insurance facility that aims to raise an initial US$1bn in financing to support countries on the …
Read More »AfDB outlines steps Uganda needs to mobilize climate finance
Kampala, Uganda | THE INDEPENDENT | Uganda needs 3-4 billion dollars for climate finance in the next ten years but that money is not flowing as expected. The African Development Bank’s Uganda report finds that only about 785 million dollars have been mobilized or 25% of the actual needs. Peter Engbo …
Read More »South Korea-Africa cooperation
Seoul commits US$600 million to Africa’s energy, agriculture Kampala, Uganda | RONALD MUSOKE | South Korea has injected US$600 million into the development of Africa’s energy and agricultural sectors as the call to have close to 600 million Africans get access to an electricity grid gathers pace across the continent. The …
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