President Kaberuka participates at DBSA’s Annual Meeting in Durban

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From: 26/08/2009
To: 27/08/2009
Location: South Africa, Durban

This week, AfDB President Donald Kaberuka is participating in the Development Bank of Southern Africa (DBSA) Annual Meeting on 26 and 27 August in Durban.

The African Development Bank (AfDB) Group and the DBSA have maintained a strong long-standing partnership as a recipient of Bank financing through Lines of Credit (LOCs) and as a co-financier under the African Financing Partnership.

Between 1997 and 2006, the Bank has extended four LOCs to the DBSA to finance infrastructure projects in South Africa and SADC member-countries to the tune of  ZAR 840 million (1997); US$70 million (1999); US$100 million (2003); and US$ 100 million (2006). The Bank is currently considering a request from DBSA for another LOC.  This will further strengthen cooperation between the two institutions.

The AfDB has also been approached by the DBSA to be one of the initial investors in a spin-off of its non-South African operations into a new entity, DBSA International (DBI).

DBSA, which is fully owned by the government of South Africa, was founded in 1984. Its primary development mandate focuses on South Africa but for the past 10 years it has extended its operations into the SADC region and beyond. DBSA also owns the DBSA Development Fund, a non-profit subsidiary.