The board of directors of the French Development Agency, or AFD, has approved some €459 million ($672.13 million) worth of financing for development projects in Africa, Asia, and Latin America and the Caribbean.
The decision was taken in a May 26 meeting of the AFD board.
The sum includes a €185 million loan to support job creation and economic development efforts in Tunisia, €70 million worth of loans for an urban development project in Kenya and €23.5 million worth of funds to help develop tourism in Senegal. AFD is also providing a €60.6 million grant and loan package to help Senegal rehabilitate its power sector.
The board also approved a €40m million loan for water and sanitation-focused initiatives in Tanzania and a €75.5 million loan and grant package for a climate change program, water resources project and public investment reform scheme in Vietnam.
The approved budget likewise includes a €3 million grant that will finance technical cooperation and studies in urban transportation in Latin America and the Caribbean and a €150,000 grant to help improve training and employment opportunities in Africa.
Meantime, in a separate funding deal inked June 2, AFD agreed to provide a total of €10.4 million to boost water resources management and food security initiatives in West Africa.
Read more development aid news.