AfDB to increase private sector lending in 2011
The African
Development Bank (AfDB) expects to lend $2.2 billion to the private
sector in 2011, up from the $2 billion forecast for this year, a senior
bank official said on Wednesday.
The bank’s
president said earlier this year that he expected overall lending to go
up after the AfDB’s backers gave it a three-fold increase in its
capital base, partly in recognition of its role in softening the impact
of the global slowdown.
“In 2011 we have
many projects for the private sector in infrastructure, energy,
transport, telecommunications and agriculture,” Tim Turner, director of
the AfDB’s private sector department, told Reuters.
AfDB President
Donald Kaberuka said last year the AfDB would lend about $7 billion to
African governments and firms in 2010. The bank’s shareholders are
Africa’s 53 nations and 24 non-African donor countries.
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