10 Apr EIB supports first interconnection between Germany and Norway

“The European Investment Bank (EIB) will provide a EUR 350 million loan to TenneT Holding B.V. to finance “NordLink”, the first interconnection between Germany and Norway across the North Sea. The bipolar High Voltage Direct Current (HVDC) link will have a capacity of 1,400 MW and a total route length of 624 km. It will improve diversification and security of supply and enhancing electricity market integration in both countries, and more widely between Northwest Europe and Scandinavian countries. It is also designated as a Project of Common Interest in the Priority Corridor Northern Seas Offshore Grid.”

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10 Apr EBRD supports trade finance through Piraeus Bank Ukraine

“The EBRD is stepping up its support to Ukrainian exporters and importers by extending an uncommitted trade facility of up to €5 million to Piraeus Bank Ukraine (PBU) under its Trade Facilitation Programme (TFP).

The TFP promotes international trade to, from, and within the EBRD countries of operations, including Ukraine. Through the Programme, the Bank provides guarantees to international confirming banks, taking the political and commercial payment risk of international trade transactions undertaken by banks in the countries of operations. In 2016 alone, the programme supported 1,359 trade finance transactions across the region totalling €1.45 billion.

Cross-border trade promotes integration and successful development of regional economies. In its new transition concept, the EBRD says that a successful economy should be competitive, inclusive, well-governed, green, resilient and integrated.”

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05 Apr New Development Bank and EIB Sign Memorandum of Understanding to Structure Future Cooperation

“European Investment Bank and New Development Bank signed Memorandum of Understanding to structure future cooperation between the two institutions. The MoU was signed by Mr. K.V. Kamath, the President of the NDB and Mr. Werner Hoyer, the President of EIB on the sidelines of the NDB Second Annual Meeting in New Delhi, India.

According to the MoU, the NDB and EIB intend to explore cooperation in the areas of infrastructure, environment, and sustainable development projects in accordance with their respective mandates and policies. The two banks will seek to co-finance projects of mutual interest in eligible countries, including projects that contribute to the enhancing of sustainable infrastructure as well as engage in other initiatives.”

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05 Apr Asian Infrastructure Investment Bank and New Development Bank Sign Memorandum of Understanding to Promote Cooperation

“Today, Sir Danny Alexander, Vice President and Corporate Secretary of the Asian Infrastructure Investment Bank (AIIB) and Mr. Paulo Nogueira Batista Jr., Vice President and Chief Risk Officer of the New Development Bank (NDB) signed a Memorandum of Understanding (MoU) on the sidelines of the NDB Second Annual Meeting in New Delhi, India.

The MoU provides a comprehensive framework for AIIB-NDB cooperation, including developing sector and thematic level collaboration in areas of mutual interest, such as infrastructure and sustainable development projects. It will also enable these two Banks to partner on co-financing opportunities, facilitate knowledge sharing and provide mutual training and development of their staff.”

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05 Apr Adesina invites New Development Bank to join AfDB’s ambitious Light up and power Africa project

“The African Development Bank Group (AfDB) President, Akinwumi Adesina has invited the New Development Bank (NDB) to support Light up and power Africa, the first of five top priorities of the Bank’s continental transformation agenda.

“I am very pleased that the New Development Bank is investing in the energy sector and I’d like to invite you to join us in this huge task to light up and power Africa,” Adesina told delegates at the 2nd Annual Meetings of NDB in New Delhi on Saturday, April 1, 2017.

He commended the speedy take-off and approvals of US $1.5 billion in projects, some of them in Africa, urging the new bank to do more for the continent, which needs all the support it can get in its drive to accelerate its growth and development.

Africa, he said, remains a good address for business, noting that, despite the tough global economic environment, African countries continue to post resilient growth.”

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27 Mar Swedfund continues to focus on renewable energy in Sub-Saharan Africa

“Swedfund, Sweden’s development finance institution, invests 13 MUSD in the fund Frontier Energy II. The fund focuses on small and medium-sized renewable energy projects, primarily in East Africa.

Clean, reliable and affordable electricity is one of the fundamental drivers for development. It underpins economic growth and is central to a number of other issues ranging from climate change to a more equitable distribution of income and the empowerment of women. Meanwhile, roughly 600 million people in Sub-Saharan Africa lack access to sustainable electricity.

This is why Swedfund is prioritising investments that contribute to increasing the production of clean energy in developing countries. Swedfund committed MUSD 13 to Frontier Energy II Alpha K/S, which will focus on developing, constructing, operating and owning small- and medium-sized renewable energy projects in Sub-Saharan Africa.”

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27 Mar EIB signs extensive support for Kenyan energy and transport

“During an official visit to Kenya, the European Investment Bank (EIB) has pledged new support for projects in the power and transport sectors. Also, at a press conference In Nairobi with Cabinet Secretary for the Treasury Henry K. Rotich, the signature of a connectivity project was announced. The EIB’s three-day programme will include a site visit to the Lake Turkana Wind Park, the largest windfarm in sub-Saharan Africa developed by the private sector, which the EIB helped finance in 2014.

At the Treasury the EIB signed the “Last Mile Connectivity” project, which will connect nearly 300.000 Kenyan households (equalling up to 1.5 million Kenyans) to the national electricity grid. The EUR 60 million (Kshs 6.7 billion) EIB loan concerns a multiple scheme electrification project, targeting universal access to electricity for the Kenyan population by 2020. It is part of a European “blended” financing package comprising a EUR 90 million (Kshs 10 billion) loan from the Agence Française de Développement and a EUR 30 million (Kshs 3.3 billion) grant from the European Union.”

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27 Mar AfDB a key partner in 2nd Edition of the International Conference on the Emergence of Africa

“The Government of Côte d’Ivoire and the United Nations Development Program (UNDP), in partnership with the African Development Bank Group and the World Bank, is holding the second edition of the International Conference on the Emergence of Africa (ICEA 2017), in Abidjan from March 28 to 30, 2017 at the Sofitel Hotel Ivoire, under the theme “The implementation of plans for emergence in Africa”.

The ICEA 2017 is designed as a platform of exchange to stimulate debate on the conditions for the emergence of African countries in the light of the process of structural transformation in emerging countries. Two sub-themes, namely “Governance of Public Institutions” and “Structural, inclusive and sustainable transformation,” will also be discussed during a high-level panel, in workshops and side-events in the presence of Heads of State and Government, civil society organizations, research institutions (some 400 experts and State and non-State representatives) from 54 African, Asian, European and American countries.”

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20 Mar Welcome to the EAC Business and Investment Forum 2017

“Welcome to the EAC Business and Investment Forum 2017

In close cooperation with the EAC embassies SWEACC is pleased to invite you to this year’s EAC-BIF in Stockholm 23-24th March 2017.

Together with SWEACC members and new business friends you will have the possibility to learn more about ongoing activities and plans for the future in the East African Community. We will listen to and meet all the five EAC Ambassadors from Burundi, Kenya, Rwanda, Tanzania and Uganda.

This forum will focus on ICT based solutions and Medtech, and aims to create opportunities for an active matchmaking in trade and investment between participants from Sweden and the East African countries Burundi, Kenya, Rwanda, South Sudan, Tanzania and Uganda.

Welcome to attend the EAC-BIF 2017, to get more information about trade and investment opportunities in the world’s now most economically developing area, and to further create possibilities for projects and partnerships.

See more about EAC-BIF here.”

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20 Mar East Africa Community Business Investment Forum March 23 @ 8:00 am – March 24 @ 5:00 pm

“The aim of the East Africa Community Business Investment Forum (EAC-BIF) is to promote successful investments and trade opportunities between Sweden and the EAC. The forum will give an opportunity for business to business (B2B), Government to Government (G2G) and Government to Business (G2B) meetings to take place.

The EAC-BIF 2017 will take place on 23-24th March 2017 in Stockholm. Building on experiences from past forums, this year’s forum focuses on emerging and more cross cutting subject of “ICT based Solutions” with focus on MedTech for health care systems.

EAC-BIF is co-organized by the Swedish East Africa Chamber of Commerce (SWEACC) and The Embassies of the respective East African Community members in Sweden (Burundi, Kenya, Rwanda, Tanzania and Uganda)”

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