African Development Bank - Logistafrica.com

Germany provides €10 million to NEPAD Infrastructure Project Preparation Facility (NEPAD-IPPF) to boost infrastructure development in Africa

July 6, 2023July 6, 2023 logistafrica

The African Development Bank (www.AfDB.org) and KfW (https://apo-opa.info/3NGuTHv), on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), today announced the replenishment of the NEPAD – Infrastructure Project Preparation Facility (NEPAD-IPPF) (https://apo-opa.info/3PRCFB0) Special Fund, which aims to boost regional infrastructure in Africa. The German Government will provide €10 million to replenish the Special Fund. The agreement was signed in Berlin by Helmut Gauges, Head of Financial Cooperation in Subsaharan Africa on behalf of KfW, and African Development Bank Vice-President and Chief Financial Officer, Hassatou N’Sele. The new…

African Development Bank debars Goldsun Investments Company Limited for 24 months for Fraudulent Practices

May 9, 2023May 9, 2023 logistafrica

The African Development Bank Group (www.AfDB.org), on 9 May 2023, announces a 24-month debarment of Goldsun Investments Company Ltd. with effect from 31 January 2023. Goldsun Investments Company Ltd. is a limited liability company registered in the Republic of Kenya. The debarment qualifies for cross-debarment by other multilateral development banks under the Agreement for Mutual Enforcement of Debarment Decisions An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that Goldsun Investments Company Ltd. engaged in fraudulent practices during a tender for the dualling of the 84…