Tuesday, March 28, 2023
  • Login
Upgrade
The Southern African Times
  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
    • Lifestyle
      • Health
      • Culture
      • Food and Drink
      • Entertainment
  • Opinion
  • Sports
  • SAT Jobs
No Result
View All Result
  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
    • Lifestyle
      • Health
      • Culture
      • Food and Drink
      • Entertainment
  • Opinion
  • Sports
  • SAT Jobs
No Result
View All Result
The Southern African Times
No Result
View All Result
Home Finance

AfDB finances cross-country power initiative, youth development in Ethiopia

by SAT Reporter
July 26, 2021
in Finance, Just In
0
AfDB finances cross-country power initiative, youth development in Ethiopia
0
VIEWS

LONDON, (The Southern African Times) – The African Development Bank (AfDB) has signed two grant agreements for new projects with the Ethiopian government, which aim to boost youth employment and electricity trade between Ethiopia and Djibouti.

The grants are grouped under the bank’s concessional lending window and will comprise $47-million towards productivity enhancement in agricultural industrial parks and $71-million to power interconnection between the two countries.

The programme entails the development of 12 607 ha of irrigated land, while 3 000 youths will receive agronomic and business development training.

The irrigation infrastructure will strengthen water users associations, protect the water-shed areas around the irrigation schemes and will be used to provide training for farmers and youth agri-entrepreneurs on soil and water conversation practices.

The programme will be implemented for five years up to 2026 under the supervision of Ethiopia’s Ministry of Water, Irrigation and Energy, as well as the country’s Irrigation Development Commission.

Meanwhile, the Ethiopia-Djibouti Second Power Interconnection project follows an earlier AfDB-financed power interconnection project between the two countries and builds on its accrued benefits over the last decade.

It will enable the construction of about 300 km of interconnector lines, 170 km of transmission lines to reinforce the network within Ethiopia, and the construction of new and the expansion of existing substations in the two countries.

In Djibouti, expected benefits include a 65% increase in customer connections and a sharp reduction in the use of thermal generation plants from 100% to about 16%.

In Ethiopia, the project is expected to lead to higher incomes from the power trade which, over the last ten years, stood at more than $275-million in revenue from power exports.

Upon completion, Ethiopia’s revenue from power exports will increase, while simultaneously boosting Djibouti’s access to reliable, affordable, and clean electricity and lowering its greenhouse-gas emissions.

“By enhancing economic ties through increased cross-border power trade and improved economic competitiveness, the project will contribute towards harnessing regional peace and stability and addressing regional fragility,” says AfDB East Africa regional development deputy director Dr Abdul Kamara.

AfDB is a major player in Ethiopia’s development agenda and currently has operations valued at about $1.76-billion, covering basic services, energy, transport, water supply and sanitation, agriculture, governance and the private sector.

Previous Post

China’s digital yuan could pose challenges to the U.S. dollar

Next Post

World’s largest oil trader, Vitol, hands a record $2.9 billion to top employees

SAT Reporter

Related Posts

Binance and Its CEO Sued by CFTC Over US Regulatory Violations
Crypto

Binance and Its CEO Sued by CFTC Over US Regulatory Violations

by SAT Reporter
March 28, 2023
FNB launches new energy-related loan products for the middle class
Finance

FNB launches new energy-related loan products for the middle class

by SAT Reporter
March 28, 2023
Digital currency usage soars in Nigeria on cash shortages
Finance

Digital currency usage soars in Nigeria on cash shortages

by SAT Reporter
March 24, 2023
Egypt Becomes A Member Of The BRICS New Development Bank
Finance

Egypt Becomes A Member Of The BRICS New Development Bank

by SAT Reporter
March 23, 2023
Kenya’s  Apex Bank tightens grip on forex market amid dwindling Reserves
Finance

Kenya’s Apex Bank tightens grip on forex market amid dwindling Reserves

by SAT Reporter
March 23, 2023
Next Post
World’s largest oil trader, Vitol, hands a record $2.9 billion to top employees

World’s largest oil trader, Vitol, hands a record $2.9 billion to top employees

Browse by Category

  • African Continental Free Trade Area
  • African Debt
  • African Start ups
  • Algeria
  • Analysis
  • Angola
  • Asia
  • Botswana
  • BOTSWANA
  • Burkina Faso
  • Burundi
  • Business
  • Business
  • Cameroon
  • Central Africa
  • China
  • Climate Change
  • Climate Changev
  • Congo Republic
  • COVID 19
  • Culture
  • Democratic Republic of Congo
  • Eastern Africa
  • Education
  • Egypt
  • Entertainment
  • Environment
  • Ethiopia
  • Europe
  • Fashion
  • Feature
  • Finance
  • Food
  • Food and Drink
  • Foods
  • Ghana
  • Global
  • Guinea
  • Health
  • Immigration
  • in Southern Africa
  • International news
  • Just In
  • Kenya
  • Lesotho
  • Libya
  • Life Style
  • Lifestyle
  • Malawi
  • Malawi
  • Mali
  • Markets
  • Middle East
  • Mozambique
  • Namibia
  • Nigeria
  • North Africa
  • Opinion
  • Politics
  • Racism
  • Rwanda
  • SAT Jobs
  • Senegal
  • Seychelles
  • South Africa
  • South Sudan
  • Sports
  • Startup Africa
  • STOCK EXCHANGE
  • Tanzania
  • Tech
  • Togo
  • Travel
  • Travel
  • Tunisia
  • Uganda
  • Uncategorized
  • West Africa
  • World
  • World
  • ZAMBIA
  • Zambia
  • ZIMBABWE
  • Zimbabwe

Browse by Tags

africa African business news Africa News african footballer African investments African news African start-up Agriculture banking Business China Classic Climate change Content economy Explore Bali Finance football Health Investment Kenya Life Style Markets Market Stories Nigeria oil and gas Opinion Pandemic Politics Premium Russia South Africa Southern African News sports Stay Home technology Travel United Kingdom United Stated Vaccine Work From Home Wuhan Zambia Zimbabwe Zimbabwe Harare Manufacturing Africa Employment creationn

Categories

  • African Continental Free Trade Area
  • African Debt
  • African Start ups
  • Algeria
  • Analysis
  • Angola
  • Asia
  • Botswana
  • BOTSWANA
  • Burkina Faso
  • Burundi
  • Business
  • Business
  • Cameroon
  • Central Africa
  • China
  • Climate Change
  • Climate Changev
  • Congo Republic
  • COVID 19
  • Culture
  • Democratic Republic of Congo
  • Eastern Africa
  • Education
  • Egypt
  • Entertainment
  • Environment
  • Ethiopia
  • Europe
  • Fashion
  • Feature
  • Finance
  • Food
  • Food and Drink
  • Foods
  • Ghana
  • Global
  • Guinea
  • Health
  • Immigration
  • in Southern Africa
  • International news
  • Just In
  • Kenya
  • Lesotho
  • Libya
  • Life Style
  • Lifestyle
  • Malawi
  • Malawi
  • Mali
  • Markets
  • Middle East
  • Mozambique
  • Namibia
  • Nigeria
  • North Africa
  • Opinion
  • Politics
  • Racism
  • Rwanda
  • SAT Jobs
  • Senegal
  • Seychelles
  • South Africa
  • South Sudan
  • Sports
  • Startup Africa
  • STOCK EXCHANGE
  • Tanzania
  • Tech
  • Togo
  • Travel
  • Travel
  • Tunisia
  • Uganda
  • Uncategorized
  • West Africa
  • World
  • World
  • ZAMBIA
  • Zambia
  • ZIMBABWE
  • Zimbabwe

Browse by Tag

africa African business news Africa News african footballer African investments African news African start-up Agriculture banking Business China Classic Climate change Content economy Explore Bali Finance football Health Investment Kenya Life Style Markets Market Stories Nigeria oil and gas Opinion Pandemic Politics Premium Russia South Africa Southern African News sports Stay Home technology Travel United Kingdom United Stated Vaccine Work From Home Wuhan Zambia Zimbabwe Zimbabwe Harare Manufacturing Africa Employment creationn
  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
    • Lifestyle
      • Health
      • Culture
      • Food and Drink
      • Entertainment
  • Opinion
  • Sports
  • SAT Jobs

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
View preferences
{title} {title} {title}
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?