Governors Approve AfDB's Sixth General Capital Increase

27 May 2010
Content from a Premium Partner
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

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.