Support to Fragile States

In 2009, the economic performance of the African fragile states was also negatively affected by the  global financial crisis. Falling export earnings and declining capital inflows caused serious deterioration in the balance of payments and fiscal difficulties for many countries. The accompanying exchange rate volatilities  and job losses also resulted in the decline of per capita income by more than 50 percent of forecasts in some countries.

The global financial and economic crisis undermined gains from economic reforms and advances made in  the fight against poverty in most fragile states. In response to the crisis, the Bank approved UA 364.8  million from the Fragile States Facility (FSF) to finance 12 operations in 7 countries, namely Central African Republic, Comoros, Côte d’Ivoire, Guinea-Bissau, Liberia, Sierra Leone,and Togo.