AfDB invests equity of $24m in EADB
Posted Saturday, January 19 2013 at 16:26
- 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.
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.