AfDB approves $4.8b borrowing plan for 2014

The Boards of the African Development Bank (AfDB) Group has approved an amount of $4.89 billion for its 2014 borrowing programme.

Announcing the 2014 borrowing programme last week, the Bank said the amount includes $199.58 million for possible draw down under the loan component of the Enhanced Private Sector Assistance (EPSA) Initiative for Africa.

“The borrowing programme aims at raising cost-effective resources to finance Bank Group clients as well as meet its liquidity requirements,” the Tunis-based bank said.

The borrowing programme, according to the AfDB will help to ensure that the Bank has sufficient liquidity to meet its cash flow requirements consistent with the liquidity policy.

It is also expected to provide cost-effective resources to its regional member countries, while further diversifying its investor base.

By Ekow Quandzie