AfDB reveals FSF fund figures

Jun 17, 2010

The African Development Bank (AfDB) allocated $547 million (€442 million) from its Fragile States Facility (FSF) to help African nations deal with the global financial crisis during 2009, the Lead Economist of the Bank's Fragile States Unit has confirmed.

James Wahome said in an interview (June 15th, 2010) that the funding was used to assist countries with the financial costs associated with issues such as governance reforms and infrastructure rehabilitation. And he noted the AfDB's Fragile States Unit has been increasing its support since being established two years ago.

"Addressing the difficult and diverse development challenges in fragile states has increasingly become a core business mandate of the Bank since 2008," he remarked. Mr Wahome added the Bank - which was founded in 1964 and currently has 53 regional member countries as shareholders - is continuing with its aim of increasing the development assistance available to fragile states on the continent, which will partially be used to pay for debt relief and support budgets.