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| African Development Bank grants more loans in 2006 |
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The African Development Bank granted loans and endowments of 3.9 billion U.S. dollars in 2006, up 20 percent on the previous year, according to an analytic report.
The report was released prior to the 2007 annual meetings of the bank's board of governors, which is to be held in Shanghai from May 16 to 17.
The sum compares with the 928 million dollars of economic aid Africa received last year from other countries, said the report.
Fifty-three percent of the sum were used to boost the financial industry in Africa, while 24 percent went into infrastructure construction.
Loans in support of government policy soared 178 percent year on year and loans to individuals surged 55 percent.
Since it was established in 1964, the bank has granted loans and endowments totaling 59 billion U.S. dollars. North Africa received 32.5 percent of the money, more than any other part of the continent.
The report also said the ratio of Africa's foreign debt to its GDP dropped from 52.8 percent in 2002 to 25.3 percent in 2006.
Source: Xinhua
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| Heads of delegations or other officials are kindly requested to advise the Secretariat well in advance of the meetings,of the full composition of their respective delegations,including,if any,members from diplomatic missions and their staff. More>> |
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