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| AfDB President, Donald Kaberuka |
By AGENCIES
THE African Development Bank (AfDB) approved almost US$8.5 billion worth of loans and grants in 2011, the bank reported on Thursday.
This represented a 36% rise on 2010 approvals, which totalled approximately $6.2 billion.
The bank is currently holding its annual meeting in Arusha, Tanzania
The largest portion of the loans and grants were for infrastructure, constituting about 38% of the total amount, followed by multisector loans and grants which amounted to almost 21% of the total.
The multisector category covers public sector management, including good governance and anti-corruption programmes, industrial import facilitation and export promotion.
Another large sector was finance, accounting for just over 19% of the total.
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