The Bank's capital base has more than doubled. It goes from 93 billion USD to 208 billion USD
The largest capital increase in the Bank's history bears witness to a united front of
shareholders
At an extraordinary meeting of shareholders held today in Abidjan, the Governors of the
African Development Bank, representing shareholders from 80 countries, approved a
historic capital increase of 115 billion USD for the continent's leading financial institution.
The capital increase, the largest in the history of the African Development Bank since its
creation in 1964, is a remarkable proof of the confidence of the shareholders.
With the approval of this increase, the Bank's capital will more than double, from 93
billion USD to 208 billion USD; which strengthens the Bank's leadership in terms of financing
development on the continent.
The increase in equity allows the Bank to maintain an excellent AAA rating, with
stable outlook, from the best rating agencies.
Two years ago, the African Development Bank launched discussions to increase
of capital in order to accelerate the implementation of the development strategies of its High 5s,
Sustainable Development Goals and the African Union's Agenda 2063
Speaking at the opening ceremony, the President of Côte d'Ivoire, Alassane Ouattara said:
“By integrating the priorities of the continent through the “High Five” program, the Bank Group
African Development is proving to be a leading strategic partner for
African governments”.
Over the past four years, the African Development Bank has achieved results
tangible on the ground, through its “High 5s”: it helped connect 16 million
people to the electricity grid, provided 70 million people with agricultural technologies for the
food security, 9 million people access to finance through private companies,
55 million people improved transport services and 31 million people access to water and
to sanitation.
According to the President of the African Development Bank, Akinwumi Adesina, “We have achieved
great things, but there is still a lot to do. Our responsibility is to contribute very quickly
improve the quality of life of African populations. This general capital increase represents
a very strong commitment from all our shareholders to see the materialization of better quality projects that
will have a significant impact on the lives of people in Africa - in cities, in communities
rural areas and for millions of young men and women.
With the new general capital increase, the Bank plans to do more with the results
following expected results: 105 million people will have access to new or
improved; 244 million people will benefit from improvements in agriculture; 15 million
people will benefit from investment projects; 252 million people will benefit from better access to transport; and 128 million people will benefit from improved access to water and
sanitation.
Adesina noted that “the Bank will continue to play its leadership role in the development of
infrastructure, strengthening regional integration, helping to achieve the ambitions of the Zone de
African continental free trade, support for fragile states to build their resilience, management
sustainable debt, the fight against climate change and the stimulation of investments in the sector
private. We will do much more. It is a historic moment”.
He added: "I congratulate the shareholders for their confidence in the Bank and for the support
they bring to the development of Africa”.
The President of the African Development Bank, Akinwumi Adesina; Senior Vice President, Mr.
Charles Boamah of the AfDB Group ; and the Vice President Finance, Bajabulile Swazi Tshabalala are
available for interviews.