Major MDBs could increase lending by nearly $480 billion collectively before the decline in capital positions would lead to downgrades, Fitch Ratings says in a new report.Fitch, which does not expect MDBs to use their lending headroom in full, assessed how much lending would be consistent with... More

Early-stage vaccine development in Rwanda by Akagera Medicines Africa will be supported by €2 million financing from EIB. The new backing will accelerate research and development as well as manufacturing of new vaccines to treat infectious diseases including tuberculosis, HIV, Lassa fever, and... More

AfDB has approved grants of $34,796,402 to enhance resilience and adaptation to climate disaster risks for vulnerable communities in Malawi and Zimbabwe.Under the Africa Disaster Risk Financing (ADRiFi) initiative, the Mitigating Fragility through the Africa Disaster Risk Financing Programme in... More

JICA has signed a loan agreement with Fiji for the Disaster Recovery and Rehabilitation Phase 2.The 40-year JPY5 billion ($33.5 million) loan has an annual interest rate of 0.40%. The objective of the project is to promote the implementation of policy actions for pre-disaster investment and disaster... More

ADB has appointed Xiaoqin (Emma) Fan as its new Country Director for Pakistan.She has more than 30 years of professional experience, including 22 years in ADB. Fan joined ADB in June 2002 as an economist, and since then has held positions of increasing responsibility in various departments across... More

Bulgarian Development Bank has appointed Dimitar Mitev to the Advisory Council and Ivaylo Moskovski as a member of the Board of Directors and CEO.Mitev has 32 years of experience in the banking sector and has been with BDB since 2011, having led the departments of planning, analysis and regulations,... More

Madurai Corporation has unveiled a proposal for a waste-to-energy plant with an estimated cost of ₹314 crore (about $37.5 million). This initiative aims to address the city's growing waste management challenges while simultaneously generating renewable energy.This project falls under the CITIIS... More

Africa Finance Corporation was joint lead manager for the pricing of a $400 million 10.125% Note by Ecobank Transnational Incorporated. The five-year offering, which is due on October 15, 2029, was offered in RegS/144A format. The net proceeds from the issuance of the Notes will be used by ETI for... More

The EU and AFD have signed a Financing and Accelerating the Sustainable Transition of Cities (FAST-Cities).The FAST-Cities guarantee is an ambitious initiative aimed at supporting the sustainable transformation of cities in the Western Balkans, Turkiye and the EU’s Southern Neighbourhood... More

Enel Colombia has signed an ECA-supported loan through a synthetic product which neutralises the exchange rate risk, for a maximum amount in Colombian pesos equivalent to $300 million. The EIB facility, guaranteed by Italian ECA SACE, is aimed at financing the development of renewables and... More

The Philippines has sealed agreements with South Korea to fund three major infrastructure projects.One of the projects is the PHP6.34 billion ($111.4 million) Samar Pacific Coastal Road II supported by the Export-Import Bank of Korea-Economic Development Cooperation Fund.The project involves... More

Equinor and Polenergia are seeking EBRD funding for their Baltyk 2 and 3 projects, both of which have a capacity of 720MW.The non-recourse long-term senior debt from EBRD would finance the construction of the offshore wind farms in the Polish Baltic Sea. The bank's financing will be provided... More

Danish venture fund PSV Hafnium has landed DKK185 million (about $27 million) EIF and DKK100 million (almost $15 million) EIFO commitments in support of deep tech focused early-stage companies targeting societal challenges. With a fund size cap of DKK600 million, it aims to back science-based... More

EIB and Intesa Sanpaolo have agreed on a new initiative with the potential to unlock investment of up to €8 billion for the European wind industry. It forms part of EIB’s €5 billion wind power package, an investment plan announced by the EU bank at COP28, and is the first... More

The World Bank has approved €268.22 million ($287.24 million) in funding for the Philippines Digital Infrastructure Project. The project will invest in the government's national fiber optic backbone, middle-mile, and last-mile connectivity infrastructure, while ensuring these... More

The United Nations Development Programme (UNDP) and Mizuho Financial Group are partnering to support scaling up sustainable finance across Japan and Asia. This follows an announcement by the Mizuho Financial Group that it intends to raise $700 billion in sustainable finance by 2030. Key areas... More

Yasser El-Gammal has been named as the new World Bank Country Manager for Romania and Hungary. The appointment is effective October 1.  El-Gammal, who succeeds Anna Akhalkatsi, joined the World Bank in 1996. Over the last 12 years, he has held several managerial positions including Country... More

Afreximbank has approved a $20.8 million financing facility for Nigeria-based Starlink Global & Ideal to enable the company construct and operate a 30,000-metric tonne per annum cashew processing factory in Lagos.Afreximbank will provide the funds in two tranches, with the first tranche of $7.48... More