Did you know that the main objective of the ‘African Development Bank’ is to promote sustainable economic growth and reduce poverty in Africa? Founded in 1964 it is legally based in Abidjan, Ivory Coast, but temporarily operating from Tunisia. The bank’s shareholders are 53 African countries and 24 non-African countries. Its focus is to provide funding to African governments and private institutions mainly for Infrastructure projects (50%), social Investments and other development initiatives. At the moment it provides less than 10% of the development assistance needed in the continent. Since 2007 to 2012 it has provided 3,796 loans and grants. In 2012 it recorded 199 operations for a total value of US$ 6.4 billion
Posted on: Sat, 21 Sep 2013 11:59:02 +0000
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