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Sierra Leone is among seven countries that have been promised incredible sums of money by the African Development Bank (ADB) in December in December, according to Business Insider.
Sierra Leone, Senegal, Ghana, Uganda, The Democratic Republic of Congo, Botswana, and Ethiopia are the seven African countries to benefit from the IDB funding.
According to Business Insider, this list covers only the month of December 2022 so far.
The African Development Bank is an institution that serves the purpose of collectively assisting African countries financially.
According to the Bank, its overarching objective is to “spur sustainable economic development and social progress in its regional member countries (RMCs), thus contributing to poverty reduction.”
As a result the bank is constantly donating relief funds or developmental assistance to countries across the African continent.
This year has been no different as the bank continues to adhere to its core objectives meticulously. It’s almost the middle of December and already a number of grants have been approved to several regions on the continent.
Below is a list of 7 African countries that have received a pledge from the African Development Bank, and how much and what project they have received this grant for. This list covers just the month of December so far.
Sierra Leone: The AFDB through its Sustainable Energy Fund approved a reimbursable grant of $1 million to NewAfrica Impact Ltd(link is external) to prepare a bioenergy plant in Sierra Leone that will output 5 megawatts of electricity and 11 megawatts of heat.
Senegal: On the 30th of November, in Abidjan, the AFDB approved a € 68.79 million loan to Senegal to implement the third phase of its Resource Mobilization and Reform Effectiveness Support Programme. The bank also approved $12.16 million in additional grant funding for the Rice Agro-Industrial Cluster Project in the country.
Ghana: This West African country received the same fund as Sierra Leone to prepare a second bioenergy plant that will output 5 megawatts of electricity and 11 megawatts of heat, worth the same $ 1 million.
Uganda: The African Development Bank Group promised to provide $301 million to overhaul the Kampala-Malaba Meter Gauge Railway (MGR) in Uganda.
DRC: The Democratic Republic of Congo has been promised the sum of $12 million by the AFDB to implement the Financial Sector Development and Inclusion Support Project in the country.
Botswana: The AFDB recently pledged a loan of $179.66 million to support government reforms to restore post-pandemic fiscal stability and economic recovery in the country of Botswana.
Ethiopia: The sum of $10 million reimbursable fund was approved by the AFDB to Ethiopia, to support a geothermal drilling program that will add 50 megawatts of renewable energy to Ethiopia’s power system.
