AfDB to raise Shs28.6 trillion for lending
What you need to know:
- Role. The bank helps member countries access electricity and transform agriculture, among others.
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.
