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The AfDB Group in North Africa 2012

11-May-2012

Geographically situated at the northern rim of the continent, North Africa (Algeria, Egypt, Libya, Mauritania, Morocco, and Tunisia) constitutes a central part of Africa. It is also central to the the history and the daily operations of the African Development Bank (AfDB).

The countries of the region were instrumental in the creation of the AfDB more than 45 years ago and are now contributing nearly 20 percent of the Bank’s subscribed capital. Since the beginning of its operations in 1966, the Bank Group has committed nearly US$ 17 billion in loans and grants to North Africa, consistently supporting the people of the region in their endeavors to develop and modernize their economies, and improve their living conditions. Producing about one-third of Africa’s total GDP and home to nearly 170 million people, North Africa is today the most prosperous region on the continent and occupies a geopolitical position that goes significantly beyond its economic weight. In 2011, North Africa also became the epicenter of social and political change as the Arab Spring began in Tunisia and spread across and beyond the region.

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