Canada Promises Funds for AfDB

Canada is lending 2.6 billion Canadian dollars (USD2.37 billion) to the African Development Bank to help African nations deal with the global downturn, Canadian Prime Minister Stephen Harper said. The loan will boost AfDB's lending capacity by 75 percent more than the bank's 2010 target, 

 reports.

About the author

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.