Portugal increases stake in African Development Bank

17 March 2006

Lisbon, Portugal, 17 March – Portugal’s stake in the African Development Bank (ADB) has increased from 48.99 million to 52.29 million account units, which corresponding to 0.262 percent of voting rights, officials said in Lisbon Thursday.

Portugal’s new total stake corresponds to a value of around 52 million euros.

The ADB, which was created in 1964, is a pan-African financial development institution which brings together 77 nations from Africa, America, Europe and Asia, and whose main donors are the United States, Japan, Germany, France and the United Kingdom.

The ADB, which has headquarters in Abidjan (the Ivory Coast), has amongst its regional members the five Portuguese-speaking African nations – Angola, Cape Verde, Guinea Bissau, Mozambique and Sao Tome and Principe. (macauhub)