Canada has donated a whopping sum of $1.1 billion to African Development Bank (AfDB) for commitment in temporary callable capital to support the bank.
This was disclosed by the 8th President of AFDB, Dr. Akinwumi Adesina on his tweeter handler on Sunday.
Akinwumi who was formerly Nigeria’s Minister of Agriculture and Rural Development stressed that Canada has taken a bold step to support Africa.
Earlier, the Communication and External Relations Department head of the Bank, Ms Nafissatou Diouf, of the bank made this known in a statement said the Canadian Minister of International Development, Women and Gender Equality, Maryam Monsef, made the announcement on
the sidelines of the World Bank-IMF Spring meetings at Washington D.C.
She quoted the Minister as saying that the fund would be approved by the bank’s governors.
“I am happy to say that today, Canada is demonstrating its commitment to African countries and our confidence in the AfDB by announcing that we are going to subscribe up to 1.1 billion dollars in temporary callable capital, if required.
“The AfDB is a key partner for Canada and we are committed to supporting the bank’s African member countries.
