Ivory Hydro Energy (IHE)’s 44MW Singrobo-Ahouaty hydroelectric power plant has moved a step closer to financial close after the African Development Bank on 7 December 2017 approved a $59m loan. The $128m project has already received a $3m equity injection from the African Finance Corporation (AFC), which signed a joint development agreement with IHE in 2015, with a commitment to provide a further $3m to help the project reach financial close. Financing from AFC was provided via the AFC-FMO Project Development Facility.