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The Etihad Rail System
The Etihad Rail project was launched in June 2009. The Etihad Rail project is currently around 70% complete. The Etihad Rail System is set to link the principal centres of population and industry of the United Arab Emirates (UAE).
Top 5 Oil and Gas Projects in the UAE: 2022
ABiQ tracks oil and gas projects across the UAE. As per the project tracking platform ABiQ, there are over $70 billion of active Oil and Gas projects in the UAE. ABiQ estimates that the UAE will spend $8.5 billion in 2022 on various Oil and Gas projects that are currently under construction.
New currency weights for SDR valuation basket set by IMF
The new currency weights for the Special Drawing Rights (SDR) valuation basket was determined by the IMF Executive Board
Saudi Aramco announced record results for the first quarter of 2022
Saudi Aramco announced record results for Q1 2022 with a net income increase of 82 per cent, driven by higher volumes and pricing.
BII and Norfund invest ZAR 600 million in renewable energy development SA
British International Investment and Norfund will invest ZAR 600 million in H1 Capital to develop renewable energy in South Africa.
The AfDB launched an AUD155 million social bond
The African Development Bank has successfully launched an AUD155 million social bond that will mature in October 2032. The bond will fund the continent’s most pressing social development needs.
World Bank to provide $200 million for Ghana Digital Acceleration Project
The World Bank approved $200 million to help the government of Ghana catalyse its digital transformation under the Ghana Digital Acceleration Project.
De Beers Group steps up its fight against climate change
Founded in 1888, the De Beers Group is the world’s leading diamond company with expertise in diamond exploration, mining, and marketing
South Africa released Phase 1 of the National Infrastructure Plan 2050
South Africa’s ministry of Public Works released phase 1 of the National Infrastructure plan 2050. Deteriorating infrastructure, widespread damage from devastating floods and poverty are some of the issues being addressed
Shell announces deep-water discoveries offshore Namibia
Shell has made a significant oil discovery in deep water off the coast of Namibia. Shell’s JV partners Namcor and Qatar Energy are evaluating development options
UNESCO launches a $45 million renewable project in Zimbabwe
A new USD 45 million renewable energy project for Zimbabwe is scheduled to start this month and run for four years
Ghana’s AWM project will receive €44.7 million from the EU and the FDA
The Agricultural Water Management Project (AWMP) is one of the interventions government facilitated to mitigate the impact of perennial drought, a significant setback impeding the prospects of the agrarian economy in the five Northern regions of Ghana
AfDB and ADFD signs MOU at Dubai EXPO 2020
The African Development Bank and the Abu Dhabi Fund for Development signed a Memorandum of Understanding at the Dubai EXPO 2020
DBSA announced the first debt drawdown for Redstone CSP
The Development Bank of Southern Africa has announced that the Redstone Concentrated Solar Power Project has completed its first debt drawdown.
Eskom plans to add 4 GW of renewable power to the national grid
Eskom has launched a request for a proposal to lease land to add an estimated 4,000 MW of new renewable generation capacity to the national grid.
“Desert to Power” project receives a $5.5 million grant to fund phase 2
Half of the 340 million people living in the Sahel region do not have access to electricity. The African Development Bank’s “Desert to Power” initiative aims to provide electricity to 250 million people.
The IFC has invested $15 million in Egypt’s Algebra Ventures’ Fund II
Algebra Ventures is Egypt’s leading technology venture capital firm. According to its website, it has invested over $300 million in its portfolio companies
Zanzibar’s $665.5 million water sector investment programme launched
Zanzibar is a semi-autonomous island region of Tanzania. The government of Zanzibar has officially launched a multi-million investment programme to ensure sustainable water supply for its 1.6 million population
A $25 Million Nationwide Renewable Cooking Fuel Utility in Rwanda
The Rwanda Development Board reported that the Rwandan government signed an agreement with KOKO Networks to develop a $25 million nationwide renewable cooking fuel utility
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