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The AfDB Group in Southern Africa 2011 - Fostering Growth and Regional Integration
We are pleased to present this regional publication which provides an overview of the African Development Bank’s operations and partnership in Southern Africa.
The publication comes at a critical time for the region and the Bank. The aftermath of the global financial crisis threatened to set back, in less than a year, the economic gains so painfully made over the last decades. The crisis slashed the continent’s growth rate from a healthy 6% to 2%, reduced export earnings, decreased Diaspora remittances and investment flows, and contracted the private sector. To ensure its regional member countries weathered the financial storm, the Bank intervened and helped shore up many economies by lending at record levels, including to Middle Income Countries.