African Bank Group To Sink $430M In Infrastructure Projects

Law360, New York (May 16, 2012, 8:38 PM EDT) -- The African Development Bank Group on Wednesday approved roughly $430 million in financing for infrastructure investments on the continent, including loans for Morocco’s $1.3 billion project to develop solar power technology.

The group, which funds projects including environmental and energy infrastructure initiatives, approved a $214 million loan and a $100 million Clean Technology Fund concessionary loan to fund the first phase of the Ouarzazate solar power station in Morocco, the group said in a statement.

The $1.27 billion station, which will develop concentrated solar power technology...
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