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AfDB to raise Sh826bn through capital markets - 3 Jan 2018 18:09

By: Brian Ngugi

The African Development Bank (AfDB) plans to raise $8 billion (about Sh826 billion) in the new-year tapping the capital markets with a view to lending to member countries on the continent. The bank expects to access a wide array of capital markets having previously raised cash mostly in the form of US dollars, Euros, Australian dollars and sterling pounds. “The board of the African Development Bank has approved the regional multilateral 2018 borrowing programme for $8 billion to be raised from capital markets,” said the lender in a statement. The bank provides financial assistance to member countries by mobilising resources primarily from capital markets under its annual borrowing programme. “We have stepped up our profile in international capital markets and will continue to raise funds across the globe to provide cost effective resources to our clients,” stated Hassatou N’Sele, AfDB Group acting vice-president finance and treasurer. The bank recently launched ...
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