With New Capital Base of $208bn, AfDB Targets Fresh Ambitious Plans to Support Hundreds of Millions of People in Africa

MyNewsBite

Governors of the African Development Bank (AfDB) Thursday approved a capital increase of $115 billion, moving the bank’s capital from $93 billion to $208 billion.

This is the highest height ever attained by the bank in the history since 1964.

With this new general capital increase, the African Development Bank said it planned to do more for the continent through its various ambitious projects.

Some of the bank’s ambitious pprogrammes include: Desert to Power project with the aim of provide 250 million people with access to electricity in the Sahel region; giving opportunity to 244 million people to benefit from improvements in agriculture; providing opportunity for 15 million people to benefit from investee projects; creating opportunity for 252 million people to benefit from improved access to transport; mobilising $3 billion in new financing for Affirmative Finance Action for Women in Africa (AFAWA); providing 128 million people to benefit from improved…

View original post 372 more words

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.