Donor countries to invest $9bn in AfDB

The commitment was given by the donor countries at a recent meeting of Africa's development partners in London to become yet another significant event in the history of aid relations between Africa and its partners.

At the talks, representatives of donor countries, meeting with officials from Africa and some international development institutions, agreed to a record level of support for the African Development Fund (ADF) - the investment arm of the African Development Bank Group. A statement issued on Monday by the African Development Bank noted that the resource package represented a new record in contributions to the fund. In 1975, when the first replenishment was approved, the fund's three-year allocation was under US$ 500 million.