Approves Archive

Essar Steel’s Committee of Creditors approves ArcelorMittal’s acquisition of Essar Steel

26 October 2018 – ArcelorMittal (‘the Company’) announces Essar Steel India Limited’s (‘ESIL’) Committee of Creditors (‘CoC’) has voted to approve the Company’s acquisition of ESIL. ESIL’s Resolution Professional, on behalf of the CoC, has issued the Company with a Letter of Intent (‘LOI’) stating that the Company has been identified as the ‘Successful Applicant’.

African Development Bank approves a US $50-million Risk Participation Agreement for Commerzbank AG to address Africa’s trade finance market demand

Abidjan, Côte d’Ivoire, April 5, 2018 – On Tuesday, March 27, 2018, the Board of Directors of the African Development Bank approved a US $50-million unfunded Risk Participation Agreement for Commerzbank AG (Commerzbank). The Risk Participation will leverage Commerzbank support to African issuing banks seeking to expand their trade finance operations. The facility will help

Japan nuclear regulator approves first TEPCO reactors since Fukushima disaster

Tokyo, 4 October 2017 – Japan’s nuclear regulator today granted preliminary safety approval for two Tokyo Electric Power Company (TEPCO) reactors at the Kashiwazaki Kariwa nuclear plant despite widespread public opposition. These are the first TEPCO reactors to receive approval since the nuclear disaster at the TEPCO operated Fukushima Daiichi nuclear power plant. “The NRA’s

AfDB approves US$200 million to IDC to support industrialisation projects in Africa.

Abidjan, Côte d’Ivoire 29 September 2017 – The Board of Directors of the African Development Bank Group (AfDB) has approved a private sector multi-currency line of credit of US$ 100 million and   1.3 billion South African Rands to Industrial Development Corporation Plc (IDC) of South Africa. The operation will support industrialization projects in both South

AfDB approves US $20 million for Meridian’s soft commodity value chain operations in Southern Africa

Abidjan, Côte d’Ivoire, January 20, 2017 – The African Development Bank has approved US $20 million to finance Meridian’s soft commodity value chain operations in Malawi, Mozambique and Zimbabwe. This Soft Commodity Finance Facility is designed to provide pre- and post-shipment finance along various stages of Meridian’s soft commodity value chain operations in the three

AfDB approves US $1-million humanitarian emergency grant to Tanzania to mitigate effects of earthquake in Kagera region

 Abidjan, Côte d’Ivoire, January 19, 2017 – People affected by the earthquake which hit the Kagera region, in northwestern Tanzania, in September last year will get some relief from a humanitarian emergency grant approved by the African Development Bank Group’s Board last week. The assistance will help to meet urgent needs of primary and secondary

AfDB approves USD 80 million loan and USD 20 million equity to Kainji and Jebba Hydro Power Project

Abidjan, Côte d’Ivoire, 16 December 2016 – The Board of Directors of the African Development Bank (AfDB or the Bank) has approved a financing package of USD 100 million, comprising USD 80 million loan and USD 20 million equity for the rehabilitation of the Kainji and Jebba hydro plants to increase available capacity from the


The Etihad Aviation Group (EAG) Board has approved plans to create a new European leisure airline group in a joint venture with TUI AG, with a fleet of around 60 aircraft, offering 15 million seats capacity per year, focused on point-to-point flying to connect key European tourist markets. The transaction is subject to approvals by

AfDB approves US $75-million financial package to complement Diamond Trust Bank Kenya Limited’s funding to enterprises in East Africa

Abidjan, Côte d’Ivoire, November 23, 2016 – The Board of Directors of the African Development Bank has approved a US $75-million financial package comprising US $50-million Line of credit and US $25-million Subordinated Debt to Diamond Trust Bank Kenya Limited. The funding is aimed at supporting SMEs and emerging corporates in East Africa. The LoC

Rio Tinto approves development of Silvergrass mine to maintain Pilbara blend

Rio Tinto will invest an incremental $338 million to complete the development of the Silvergrass mine in its world-class Pilbara iron ore operations in Western Australia. The brownfield expansion of the high-grade Silvergrass mine offers attractive returns, with an expected internal rate of return for this investment well in excess of 100 per cent1 and