Governors Approve AfDB's Sixth General Capital Increase

27 May 2010
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African Development Bank (Abidjan)
press release

Meeting on May 27 2010 in Abidjan, Governors representing the African Development Bank (AfDB)'s shareholders endorsed a tripling of the Bank's capital resources to nearly USD 100 billion.

This substantial increase allows the AfDB to sustain a higher level of lending, including to the private sector, in response to overwhelming demand in all countries.

In response to the financial crisis, the Bank had front loaded its commitments, put in place new instruments to facilitate trade, and restructured its portfolio. As a result the Bank had used its available resources more quickly than previously expected.

Contacts

Yvan Cliche

Read the original article on African Development Bank (AfDB).

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