In an effort to strengthen capital efficiency, boost development lending, and strengthen global financial resilience, the African Development Bank has renewed a US $3.2 billion equity exchange agreement with the Inter-American Bank of Development Development (BID).

The AfDB agreement with the IDB renews an earlier agreement concluded between the two institutions in 2015. This agreement was signed according to information from on the TechAfrica News sidelines of the spring meetings of the World Bank Group and the International Monetary Fund at Old Style”, serif">Washington DC . This agreement allows the African Development Bank to remain agile, well-capitalized and committed to innovation for development in Africa.