The African Development Bank has invested $50m in Africa Finance Corporation to enhance capacity development on the continent. AfDB�s investment helps both institutions to accelerate infrastructure development and delivery on the continent by deepening co-financing opportunities, joint implementation, knowledge...
The African Development Bank has invested $50m in Africa Finance Corporation to enhance capacity development on the continent.
AfDB�s investment helps both institutions to accelerate infrastructure development and delivery on the continent by deepening co-financing opportunities, joint implementation, knowledge transfer and capacity development for the benefit of Africa.
A statement from the corporation, which disclosed this, stated that the addition of the AfDB as a shareholder and development finance institution member of the corporation complements its strategy of addressing Africa�s infrastructure deficit with the AfDB�s stated mission to help reduce poverty, improve living conditions for Africans and mobilise resources for the continent�s economic and social development.
The statement said, �The equity investment in AFC further broadens AFC�s shareholder base, and follows recent equity investments in AFC from African Re-Insurance Corporation and the Republic of Ghana.
�As part of the equity investment, AfDB will have representation on the AFC Board of Directors.��
Business Ghana News AddThis :� Original Author :� SaharaReporters, New York Disable advertisements :�
