Loans granted by African Development Bank rise 8.6 pct in 2006

16 May 2007

Shanghai, China, 16 May – Loans granted by the African Development bank (ADB) for development projects rose 8.6 percent in 2006, to US$2.2 billion, according to figures released in Shanghai Tuesday.

In their turn, projects involving the ADB mobilized total investment of US$11.7 million in 2006, according to Thierry de Longuemar, the financial vice-president of the bank.

Last year, the African Development Fund, which is responsible for granting loans with special conditions to development projects, approved 80 operations in 32 African countries.

Set up in 1964, the African Development Bank has 53 African member countries and 24 non-Africans, Portugal being one of them. (macauhub)