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African Development Bank (Abidjan)

AfDB Hails Canada's $1.1B Pledge in Callable Capital Support

On the sidelines of the World Bank-IMF Spring meetings, Maryam Monsef, the Canadian Minister of International Development and for Women and Gender Equality, announced Canada's willingness to temporarily increase its callable capital at the African Development Bank (AfDB) by up to US$1.1 billion, should it be required. Through this commitment, Canada is supporting the negotiations of the African Development Bank's Seventh General Capital Increase. The announcement was made a day after a meeting of the Bank's governors in Washington D.C. to continue discussions on a Seventh General Capital Increase.

Photo: AfDB

On the sidelines of the World Bank-IMF Spring meetings, Maryam Monsef, the Canadian Minister of International Development and for Women and Gender Equality, announced Canada's $1.1 billion commitment in temporary callable capital to support the African Development Bank. The announcement was made a day after a meeting of the Bank's governors in Washington D.C. to continue discussions on a 7th General Capital Increase.

Photo: AfDB

Canada represented at the African Development Bank's 7th General Capital Increase Meeting held April 11th on the sidelines of the 2019 IMF-World Bank Spring meetings in Washington D.C. Canada is the fourth-largest shareholder among AfDB's non-regional member countries. Canada joined the African Development Fund (ADF) in 1973 and the Bank in 1982. It has supported all capital Increases and contributed to all replenishments of the ADF. The AfDB Group is one of Canada’s key development partners in supporting sustainable economic growth in Africa. Canada's core area of focus for Canada is empowerment of women and girls.

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