AfDB to vote on second tranche of USD 1.5 bn facility at the end of November: The board of the African Development Bank (AfDB) will vote at the end of November on releasing the USD 500 mn second tranche of its USD 1.5 bn development loan, said the bank’s Resident Representative in Egypt, Leila Mokaddem. The date for the vote could come sooner, she added, contingent on the House of Representatives ratifying the agreement.

As for energy funding, the AfDB will not be financing companies that signed up for phase one of the feed-in tariff program, joining the European Bank for Reconstruction and Development, which pulled out in protest of the domestic arbitration requirement, a source from the bank tells Al Borsa. The AfDB is exploring funding phase two as soon as the New and Renewable Energy Authority clarifies its reasoning behind some of the terms, particularly reducing the tariff from USD 0.14/kWh to USD 0.084/kWh, the source added. As we noted last week, the Electricity Ministry is ready to sign with 10 companies which have secured funding under phase one terms.