Friday January 5 2018

AfDB to raise Shs28.6 trillion for lending

Economists call for urgent reforms

A man loads matooke onto a pick-up truck. The African Development Bank works hand in hand with local communities through African governments to improve the people’s standards of living by funding agriculture, among other sectors. The bank hopes to raise Shs28.6 trillion to lend out. FILE PHOTO 

By MARTIN LUTHER OKETCH

Kampala.

The Board of Directors of the African Development Bank (AfDB) has approved the Bank’s 2018 borrowing programme for $8 billion (Shs28.6 trillion) to be raised from capital markets.
Uganda is one of the countries that benefit from AfDB’s funds.
AfDB has also shown a strong commitment to socially responsible investment programmes.
The AfDB Green Bond programme facilitates the achievement of the bank’s corporate priority of green growth through the financing of eligible climate change projects.
“We have stepped up our profile in the international capital markets and will continue to raise funds across the globe to provide cost effective resources to our clients” said Ms Hassatou N’Sele, the acting vice president finance of the AfDB Group.
The AfDB high 5 operational priorities are: Universal access to electricity, agricultural transformation, economic diversification, regional market and access to social and economic opportunities.
AfDB president, Dr Akinwumi Adesina, says these focus areas are essential in transforming lives.

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