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Vol 56 No 12

Published 12th June 2015

Bank finances face big new demands

Outgoing President Donald Kaberuka leaves the African Development Bank in decent shape, with a tripled capital base of US$100 billion and disbursements of $6.95 bn. in 2014. Paid-in capital and reserves dropped slightly to $8.67 bn. Under his tenure, the Bank lent $28 bn. for infrastructure. The gleaming Henri Konan Bédié bridge in Abidjan, over which delegates were whisked to the meeting at the Hôtel Ivoire, was built with an AfDB loan of 58 million euros ($65.46 mn.). In 2014, the operating turnover was up 15.3% over the previous year, despite the disruption caused by the move from Tunis to Abidjan and a difficult year for the African economy. It maintains its 'triple A' credit rating.

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