AfDB operations reach UA 4.39 billion in 2013

22/05/2014
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In 2013, the African Development Bank Group's total transactions reached UA 4.39 billion (1 UA = USD 1.55), or an increase of approximately 3% compared to 2012. African Development Fund operations amounted to UA 2.27 billion, an increase of about 20% compared to 2012.

AfDB operations, however, decreased 12% to UA 1.83 billion, principally due to economic and political turbulence occurring in countries that are major AfDB borrowers.

The Bank has considered various options to stimulate development of its activity, including a possible change to its credit policy to give low-income regional member countries (RMCs) direct access to AfDB sovereign operations subject to clearly defined conditions, increasing public-private partnerships and co-finance operations, and exploring new sources of finance, including equity, pension funds and resources from emerging economies.

Alignment with the Ten-Year Strategy 

In 2013, the Bank financed several projects that fitted perfectly the dual goals of the Ten-Year Strategy, namely inclusive growth and the transition to green growth.

In particular, it provided its support to a project aiming to promote inclusive growth and competitiveness in Senegal, sanitation projects in 10 countries financed under the African Water Facility and projects aimed at promoting the development of skills and human capital, agriculture and rural development. These projects included elements aimed towards women and young people. Regarding green growth, the Bank approved six projects, including a power station in Djibouti and a project to expand access to electricity in Rwanda.

The Climate Investment Fund lent its support to agricultural projects aimed at reducing emissions caused by deforestation and degradation of forests (REDD+) in Ghana, Burkina Faso and the Democratic Republic of the Congo.