Africa Financial Services 

Ghana Cocoa Board, African Development Bank and financial partners celebrate first $200 million disbursement of loan to boost cocoa productivity in Ghana

Ghana Cocoa Board (COCOBOD) and lenders have welcomed the first disbursement of $200 million of a syndicated loan facility to boost cocoa productivity in the world’s second-largest producer. The occasion was marked by a ceremony held in Accra, Ghana on Tuesday 23 June, followed online by hundreds of observers across the globe. In attendance were COCOBOD and government representatives and participating lenders, which included development finance institutions: the African Development Bank (https://www.AfDB.org/), the Japan International Cooperation Agency (JICA), the Development Bank of Southern Africa and Cassa Depositi e Prestiti Spa.…

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Africa Utilities 

Sudan warns against escalation in Nile dam dispute

Sudan has warned against escalation and urged further negotiations with Egypt and Ethiopia over the construction of a controversial dam on the Blue Nile river by Addis Ababa. Tensions are running high between the three countries after recent talks failed to produce a deal on the filling and operation of the $4.6bn Grand Ethiopian Renaissance Dam. “We do not want escalation. Negotiations are the only solution,” Sudan’s Irrigation and Water Resources Minister Yasser Abbas told reporters on Sunday. “Signing an agreement is a prerequisite for us before filling the dam. Sudan has…

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Africa Financial Services 

Egypt sticks to US, World Bank-brokered document on Ethiopian Dam

The Egyptian Ministry of Water Resources has affirmed sticking to the document brokered by the United States and the World Bank on the Grand Ethiopian Renaissance Dam on February 21st, as a basis for negotiations, the Sudanese Irrigation Ministry said in a statement. A meeting for irrigation ministers of Egypt, Sudan and Ethiopia on Wednesday has agreed to resume negotiations and reach a final agreement that takes into consideration the mutual interests of the countries involved, as well as international resolutions and laws. US Treasury Secretary Steven Mnuchin earlier this…

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