FG secures AfDB’s $350m for power intervention

FG secures AfDB’s $350m for power intervention

The Federal Government has secured a $350 million intervention fund from the Africa Development Bank (AfDB) for power sector just as the sale of three power assets near completion. A document of the Ministry of Power sighted at the weekend, which showed this, added that the stations slated for sale included the Afam Power Station and the Afam Three Fast Power as well as the re-privatisation of the Yola Electricity Distribution Company (YEDC) to boost current efforts aimed at providing reliable power supply in the country. “The AfDB has signaled…

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$3bn COVID-19 bond earns AfDB global recognition

adesina, AfDB

The African Development Bank (AfDB) has been selected in a poll of bond market players as the best issuer in 2020 of a COVID-19 bond for its $3 billion dollar-denominated Fight COVID-19 social bond issued on March 27, 2020. The winners of the GlobalCapital Bond Awards 2020 were announced on 30 September at a ceremony held virtually for the first time in 12 years. GlobalCapital is a leading source of information on global capital markets with coverage of all market segments. “We are grateful for the market’s recognition of the…

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