African Development Bank Group approves $428 million for infrastructure projects

The Board of Directors of the African Development Bank Group (AfDB) has approved a combined $428.4 million in loans and grant to finance energy, infrastructure, transport and water and sanitation projects in eight African countries.

Under the approvals, Ghana Airports Co. Ltd. will receive a loan of $120 million to finance its capital investment program, which entails the construction of a new terminal at Kotoka International Airport in Accra and the rehabilitation of other airports at Kumasi, Temale, Ho and Wa, respectively.

In Tanzania, the approved investment comprises a $97.4 million AfDB loan and $44.2 million from the Africa Growing Together Fund (AGTF) to finance Phase Two of the Dar es Salaam’s Bus Rapid Transit Project.

Zimbabwe will receive a $16.1 million grant from the resources of the Zimbabwe Fund to finance the second phase of the country’s Urgent Water Supply and Sanitation Rehabilitation project to be implemented in Harare, Chitungwiza, Ruwa and Redcliff with an estimated 1.9 million population.

Finally, the board approved a $14.4 million grant to help Côte d’Ivoire rebuild its production capacity which was destroyed during armed conflict and has affected the country throughout the 21st century.