Wednesday
December 22
2021

African Development Bank Pays $24 Million to Increase Investment in West African Development Bank

The Board of Directors of the African Development Bank has approved a line of credit of €70 million and an equity investment of $24 million, to be granted to the West African Development Bank.

The line of credit will support businesses in the West African Economic and Monetary Union, particularly in job-creating sectors such as agribusiness, renewable energy, health, and information and telecommunication, which were drastically affected by the Covid-19 pandemic.

Photo courtesy of WOCinTech Chat.

Source: Premium Times (link opens in a new window)

Categories
Agriculture
Tags
business development, economic, impact investing, job creation, social impact, sustainability, women entrepreneurs