14 May 2009
Dakar — Angola backs the principle for a general increase of the capital of the African Development Bank (AfDB) in order to strenghten the institution's financial capacity to face the effects of the world crisis into the african economies and secure the execution of its activities, Angola's reserve bank (BNA) vice-governor, Rui Minguens, told Angop today.
Talking to Angop, on the fringes of the annual ADB meeting of governors, the head of the angolan delegation asserted that an increase of the bank financial recourses was necessary not only lessen the effects of the prevailing crisis but also facilitate the concession of credits and keep the level of implementation of its actions.
Angola and other african lusophone countries (Mozambique, Cape Verde, Guinea-Bissau and Sao Tome and Principe) do not have direct access to AfDB credits, being considered low income states, taking advantage only of African Development Fund (ADF) loans.
"ADF loans are granted at low interest rates and reimbursable at long term but the amount are considerably lower than AfDB loans"- mr. Minguens said adding that talks are now going on between the angolan government and AfDB to upgrade Angola to the middle income country level and therefore, direct acess to the institution, due to the dimension of the ongoing national reconstruction tasks.
Discussions are also going on aimed at the the creation of a structure to better represent the interests of the southern africa region in the board of directors of AfDB, consideruing their voting power.
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