African Development Bank has $115bn more for projects on the continent
AfDB’s shareholders more than double its capital base, much of which will be earmarked for infrastructure
The African Development Bank (AfDB) will use its newly ramped-up capital base to help boost private sector investment on the continent and invest in infrastructure projects that support the African Continental Free Trade Area (AfCFTA).
These are some of the plans the bank has for the additional $115bn (R1.7-trillion) recently approved by its shareholders, according to the bank’s vice-president for finance and CFO, Bajabulile “Swazi” Tshabalala. At the end of October, the bank’s shareholders agreed to more than double its capital base, the largest increase in the bank’s history, taking the total to $208bn...
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