Projects & Operations
In line with its Medium-Term Strategy (2008–2012), the Bank Group operations in 2011 continued to address pressing development challenges facing RMCs, to help them to achieve sustainable and inclusive growth and development. The focus was on the four core priority areas of infrastructure, governance, private sector development, and higher education and vocational training. The Bank also scaled up its support for fragile states, middle-income countries (MICs), agricultural and rural development, gender, environment, and climate change, regional integration and trade as well as knowledge development and management.
The Bank Group approval of UA 5.72 billion for new operations in 2011 represents an increase of 39.9 percent over the 2010 amount of UA 4.09 billion. The approvals for 2011 signaled a return to a more regular pattern of lending after the significant increase in 2009, when the Bank Group stepped in to play a countercyclical role in response to the global economic crisis. Of the total amount approved in 2011, UA 4.13 billion was in the form of loans and grants, while UA 1.59 billion was directed toward debt relief, private equity participations, and Special Fund allocations.
Engagement in Subregions
In 2011, Bank Group project and program approvals for all five subregions (including multinational projects and programs) amounted to UA 4.13 billion. This was an increase of 12.5 percent over the 2010 level of UA 3.67 billion. In terms of distribution, West Africa attracted 24.8 percent of approvals funding; North Africa, 21.9 percent; East Africa, 14.8 percent; Central Africa, 11.0 percent; and Southern Africa, 9.8 percent. Loan and grant approvals for multinational projects and programs gained 17.8 percent of funding.
The key Bank Group’s interventions in all the subregions include the following: Domestic-Oriented SME Financing Program in Nigeria; Financial Sector Development Support Program in Morocco; Governance and Economic Competitiveness Support Program in Tanzania; Rural Infrastructure Development Support Project in Democratic Republic of Congo; and Eskom Renewable Energy Project in South Africa.
Engagement in Various Economic Sectors
Multisector operations foster improvements in public financial management and institutional reforms, thereby promoting sound financial governance and robust and transparent public institutions. The finance approvals largely took the form of senior loans, lines of credit (LOCs) to financial intermediaries for onlending to small and medium- size enterprises (SMEs), as well as equity participations.
The projects approved during the year reflect the Bank’s commitment to spur inclusive economic growth. Small and medium-size enterprises form the backbone of most African economies, but they often have difficulty in accessing credit to expand, particularly in the current economic climate. By supporting SMEs through financial intermediaries such as commercial banks, the AfDB helps to safeguard livelihoods, create jobs, and reduce poverty. Among the largest approvals in 2011 were for the Domestic-Oriented SME Financing Program in Nigeria and Office Chérifien des Phosphates (OCP) S.A. Investment Program 2008–2018 in Morocco).
- 26/04/2013 - AfDB Facilitates Energy Diversification and Access to Clean Energy with the Approval of a €115 Million Loan to Turkana Wind Power Project in Kenya
- 18/04/2013 - AfDB provides USD 38 million for skills development and job creation in Rwanda
- 17/04/2013 - AfDB reinforces regional integration support with USD 232.5 million Tanzania-Kenya road financing
- 14/03/2013 - AfDB Road Improvement Project to Benefit 800,000 People, Create 12,000 Jobs in Uganda
- 14/03/2013 - AfDB Approves US $73 Million for Irrigation and Road Projects in Malawi