African Union Summit: A Call for More Resources for the AfDB

03/02/2010
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The 14th ordinary Assembly of the African Union’s Heads of State, held from 31 January to 2 February 2010 in Addis Ababa, called for a resolution to mobilize additional financial resources for the African Development Bank.

In a decision taken in the framework of a plan of action to revive the African economy, the Heads of State and of Government made a strong call in favour of the sixth General Capital Increase for the Bank, and for the 12th replenishment of concessional resources for the African Development Fund (ADF 12).

The Heads of State noted that the financial crisis has effectively increased the demand of African countries in relation to the Bank.

The Summit called for the recommendations of the various G20 Summits, notably at the Pittsburgh one,  which called for an increase in the resources of the Multilateral Development Banks, which includes the AfDB, to be put into effect quickly.