African Development Bank Approved $4.89B For 2014 Loans

Law360, New York (December 4, 2013, 5:28 PM EST) -- The African Development Bank signed off on a total of $4.89 billion for its 2014 borrowing program it said on Wednesday, which includes $199.58 million in funds available under the Enhanced Private Sector Assistance Initiative.

The purpose of the borrowing program is to try to raise cost-effective resources to be able to finance clients and maintain liquidity requirements while diversifying its investor base, according to a statement.

“This is because unlike commercial banks, which have the central bank as a lender of last resort, the AfDB...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.