In the third quarter of 2024, the African Development Bank (AfDB) took decisive steps to accelerate Africa’s development by investing USD 2.73 B across multiple sectors. As Africa faces an array of economic, social, and environmental challenges, AfDB's role has never been more crucial. According to research done by Weetracker, AfDB deployed a mix of financial instruments, including loans, grants, and equity investments. Beyond loans and grants, the Bank utilized technical assistance and financial guarantees to drive cross-border trade and support economic development. These diverse tools underscore AfDB’s flexible approach to solving Africa’s complex developmental challenges.

Source: The North Africa Journal November 23, 2024 04:21 UTC