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/ 22 January 2008

Banks raise alarm over Kenya

The World Bank and African Development Bank, acting over the turmoil in Kenya, said on Tuesday they may have to adjust lending programmes if unrest persists following a disputed poll. ”We wish to continue working with the people of Kenya … but it is difficult to do so effectively in an environment of instability,” they said.

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/ 27 November 2007

EASSy cable gets $70-million funding

International lenders have signed up a -million loan for the construction of a pan-African submarine cable to slash communication costs in the region. Five lenders, including World Bank’s International Finance Corporation and the African Development Bank, will deliver the money for the 23-nation East Africa Submarine System (EASSy) cable that will run from South Africa to Sudan.