Tuesday, 07 June 2011

AFD pledges nearly €459m in new support for development

AFD’s Board of Directors approved funding totaling nearly €459m for 10 projects to support development at its meeting on 26 May 2011. Kenya is to receive €70m in funding (two €35m loans) for its national programs to upgrade informal neighborhoods in urban municipalities and support municipalities. Senegal will benefit from €23.5m in funding (€22.5m loan and €1m grant) and two grants for trade capacity building (€725,000 to the Republic of Senegal and €280,000 to the Saint Louis Tourist Office) to develop tourism in Saint-Louis and its region, as well as €60.6m in funding (€60m loan and €600,000 grant) to help rehabilitate the country’s power sector. Tanzania is to receive a €40m loan to improve access to drinking water and sanitation in the cities of Bukoba and Musoma.

Source: AFD/CTA