African Development Bank Group has approved a $117 billion to AfDB preserve its lending capacity

Source: newsthemegh.com/Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

The Board of Governors of the African Development Bank Group has approved a $117 billion (88.1 billion Units of Account) General Callable Capital Increase for the African Development Bank to preserve its lending capacity and respond to the requirement of a credit agency.

The approval increases the Bank’s authorized capital from $201 billion (UA152 billion) to $318 billion (UA240 billion).