This is Africa’s Hour
A blog by Donald Kaberuka, former AfDB President, 2005-2015
'The sleeping giant' is on its way, and the African trajectory continues upward, with a young and dynamic population. In this occasional blog, I try and share some of the thoughts along the journey – my own, the Bank’s, the continent’s. Read More
At the end of last week I visited Liberia and Sierra Leone, two of the poorest countries in Sub Saharan Africa, and also the most affected by the Ebola outbreak. Ebola has taken over 1500 lives in West Africa, three-quarters of them in those two countries. And the pace appears to quicken: 40% of the cases have appeared in the last three weeks.
Five years ago, it was the multilateral development banks which played a critical role in tempering the worst effects of the global financial crisis, with counter-cyclical funding, liquidity support, trade finance and other instruments. The African Development Bank doubled its loans and grants between 2008 and 2009. Reflecting the key role that these banks played, the shareholders agreed to increase their capital base, and tripled it for the Asian and African Development Banks.