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AfDB invests equity of $24m in EADB

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The East African Development Bank (EADB) headquarters in Kampala. It is set to receive a $24m boost from AfDB. Photo/FILE

The East African Development Bank (EADB) headquarters in Kampala. It is set to receive a $24m boost from AfDB. Photo/FILE 

By STEVE MBOGO Special Correspondent

Posted  Saturday, January 19   2013 at  16:26

In Summary

  • Of the total amount, $10 million will be paid in one tranche while the balance will be paid upon request by EADB.
  • AfDB currently owns a 6.76 per cent stake in EADB and it was not immediately clear by what percentage its stake will increase following the equity investment.
  • EADB will use some of the funds to support capital market development in specific member countries.
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The investment is also part of AfDB’s East African Integration Strategy, with focus being on sub-regional development finance institutions and on key pillars of AfDB’s forthcoming Long-Term Strategy, particularly private sector development and regional integration.

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