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Vol 37 No 7

Published 29th March 1996

Funding fall-off

African Development Bank President Morocco's Omar Kabbaj hopes to have reached agreement with donors on a US$2,700 million replenishment for the African Development Fund (ADF 7) next month in Abidjan. But only just over half of the ADF replenishment ($1,650 mn.) is likely to be new money. The ADF has been virtually closed since January 1995 because Western donors could not agree on reforming the Bank group. In an October compromise, both sides agreed to adopt World Bank credit guidelines: that only countries with incomes of over $543 a head would be eligible for ADB loans. Some 38 of the Bank group's 53 member states will thus be ineligible for loans.

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