AfDB Blog Launch

Dec 22nd, 2009 1:18 PM UTC
By Beth Adler

Our friends at the African Development Bank have launched a new blog called Building Africa Today. Right now the blog is focused on private sector activity, a priority area for the AfDB, and is providing great data that examines economic trends on the continent.

For those of you that are unfamiliar with the African Development Bank (AfDB), it is one of several multi-lateral development banks serving developing regions—in this case, of course, Africa. The AfDB provides development financing and technical assistance to African member countries and the private sector within Africa for projects in a variety of sectors. In addition to funding country-specific projects designed to eradicate poverty and promote sustainable development on the continent, the AfDB houses several initiatives and mechanisms that aim to leverage additional resources for Africa.

The AfDB is known for investing in several specific development arenas including infrastructure and agriculture. The AfDB is often equipped to invest in these sectors when other donors are not. The Bank has played a particularly important role during this past year: as the financial crisis has unfolded, the AfDB has disbursed the money they have in the bank much more rapidly—called frontloading in bank speak. This funding has helped to buttress against the impacts of the crisis on African countries. Because of this frontloading, the AfDB will soon be out of money and will need to fundraise to replenish its covers. This will be a big priority for ONE this year—stay tuned for information there.

The folks at AfDB are also launching several new videos about their work, including this one which we showcased on the ONE Blog yesterday.

TAGS: African Development Bank