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African Development Bank : $117 billion capital increase

The Board of Governors of the African Development Bank Group has approved an increase in callable capital of $117 billion, raising the total capital to $318 billion. This decision enhances the Bank’s lending capacity and maintains its AAA rating.

Akinwumi Adesina, the Group’s President, expressed his gratitude to the shareholders for their trust. Vice President of Finance, Hassatou Diop N’Sele, emphasized that the rating agencies had reaffirmed the Bank’s financial strength.

Shareholders, including Egypt, Germany, and the United States, showed strong support, ensuring sufficient resources for Africa’s development needs.

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