The African Development Bank (AfDB) announced Thursday a giant increase in its capital, which will grow from 93 to 208 billion dollars, the largest in its history.
AfDB President, Nigerian Akinwumi Adesina, spoke of « a historic day » for the Bank and « a day of joy for Africa », announcing the 125% increase in capital at a press conference in Paris. the outcome of a meeting of governors of the bank in Abidjan.
This capital increase will give us « a lot of resources to go further in the development of our continent, » Adesina said.
Founded in 1964, the ADB is the premier development finance institution in Africa, and one of the world’s five largest multilateral development banks.
Its priorities are the fight against poverty, the improvement of the living conditions of African populations and the mobilization of resources for the economic and social progress of its African member countries.
The ADB has 80 shareholder countries (54 African countries, 26 non-African countries, Europe, America and Asia). Its headquarters are in Abidjan.