AfDB to Hike Lending Resources for Crisis-Hit Nations

The African Development Bank intends to triple its lending resources for African nations in the face of the ongoing global economic slowdown,

reported. AfDB President Donald Kaberuka announced, during an African Union summit in Ethiopia, that the bank will establish a USD1.5 billion emergency liquidity fund and a USD1 billion trade finance facility in a bid to assist African nations that are vulnerable to the financial crisis.