The African Development Bank gave its nod to a line of credit worth USD59.32 million and a capital subscription of USD4.52 million for the West African Development Bank. “The investments will generate many economic benefits, such as job creation, increased value added of products and development of exports by member states. The socio-economic contribution expected from these investments includes the improvement of living conditions of the population of member states where the plants would be set up,” conveyed a statement from the AfDB. Africa’s foremost lending institution pointed out that the financial package forms part of the the agency’s wider goal of poverty reduction through regional economic integration. (Source: AfDB assists West African Development Bank/Panapress)
