Tuesday, May 12, 2009

Helping Africa weather the financial crisis

Africa's biggest investors and lenders are making available another $15 billion to help the continent weather the global financial crisis. That report comes from the African Press Association. The $15 billion is meant to promote trade, strengthen Africa's financial sector, and increase lending for agricultural projects, infrastructure, and small- and medium-size businesses.

The increased financial support represents a coordinated effort from the African Development Bank, the French Development Agency, the European Investment Bank, the Development Bank of Southern Africa, German Financial Cooperation, the World Bank, and the International Islamic Trade Finance Corporation.

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1 comment:

Toronto Real Estate Agent said...

Glad to see some help going to Africa, they are the true victims of this crisis, they did not cause it, did nothing wrong and yet they are affected the most. I hope the money will help.