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Vol 38 No 12

Published 6th June 1997


Financial headroom

Stronger economic growth in Africa encourages the Bank to seek more funds

After five years of acrimony and financial uncertainty among shareholders, the African Development Bank is likely to agree on a substantial capital increase by next year and step up its private sector investment. Buoyed by Africa's strongest growth for over two decades – economies grew on average by 5 per cent in 1996 – delegates to the annual meeting in Abidjan on 26-28 May pushed for the ADB group to help finance several major infrastructure projects and to bring in more private investment.

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