According to an International Finance Corporation (IFC) August 2022 press release, small and medium-sized enterprises (SMEs) and women-led businesses in West Africa will receive a financial boost through the Uhuru Growth Fund I that provides them with growth capital.
The IMF Executive Board has approved a US$638 million loan to Benin. This loan from the IMF is ring fenced to help the government finance the country’s National Development Plan (2018-25).
The Benin Rural Water Supply Universal Access Programme is set to continue, after receiving $250 million in funding from the International Development Association.
The Economic Community of West African States (ECOWAS) Infrastructure Master Plan intends to significantly contribute to the satisfaction of the entire demand of the sub-region by optimally developing the available resources within the ECOWAS Member States.
The International Monetary Fund (IMF) has approved the immediate release of approximately US$215.78 million (SDR 161.82 million) in financial assistance to Senegal. This financial assistance is provided to support the country’s economic recovery, in the wake of the COVID-19 pandemic.
A June 2022 African Development Bank (AfDB) press release has revealed that the African Fertilizer Financing Mechanism (AFFM) is providing a partial trade credit guarantee of $2 million to ETG Inputs Ghana Limited.
ABiQ provides a comparative overview of infrastructure investments in Nigeria and South Africa. Nigeria’s ongoing or current investment in infrastructure is approximately $138,193 million.
Nigeria is Africa’s largest oil exporter and biggest economy. In 2021, Nigeria’s GDP amounted to 441.5 billion U.S. dollars, the highest GDP in Africa. Nigeria is number 28 in the world in terms of GDP size, and yet the country has the highest number of people living in poverty.
What are the top 5 projects in Africa? Africa is growing at a rapid pace. Much needed infrastructure and other construction projects are needed to meet the needs of a rapidly growing population. Africa has more than USD $2.4 Trillion worth of active projects.
On 28 April 2022, the IMF published its Sub-Saharan Africa Regional Economic Outlook for 2022, entitled “A New Shock and Little Room to Manoeuvre”
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