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Thursday, 06 January 2011

AFD Ends 2010 with Massive Development Finance Pledges

The board of directors of the French Development Agency, or AFD, concluded their final meeting for 2010 with the approval of some euro1.7 billion (USD2.2 billion) worth of development projects.Among the biggest initiatives approved are a euro300 million loan to help finance Mexico’s efforts to combat climate change, a euro150 million loan for the expansion of Tunisia’s natural gas network and a euro200 million credit to a Latin American multilateral institution. This loan will be used to refinance loans supporting green and inclusive growth in the region.Other financing approved by the AFD directors on their Dec. 16 meeting in Paris include:-euro70 million loan and euro700,000 grant for the construction of a new international airport in Senegal.-euro53.14 million loan for the rehabilitation of the Zambian section of the Nacala road corridor.-euro20 million loan to support power sector reforms in Mauritania.-euro15 million for agricultural development in the Office du Niger area in Mali. For more information:http://www.afd.fr/jahia/Jahia/lang/en/home/Presse/Communique/CA-Etats-Etrangers-16-12-2010;jsessionid=A50DCFF09F6DB5BEDE615DBC176A754C

Source: DEVEX