African Development Bank Gets Record $11 Billion in Funding
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000The African Development Bank’s concessional financing arm mobilized a record $11 billion in its 17th replenishment, an amount the multilateral lender said signals confidence in the continent’s development prospects.The funding includes as much as $2 billion from the OPEC Fund for International Development and up to $800 million from the Arab Bank for Economic Development in Africa, the lender said in a statement on Tuesday. Pledges to the African Development Fund, or ADF, were received from 19 African nations for the first time, it said.