AFDB bailouts double on recession

The African Development Bank (AfDB) estimates that more African states and the continent's private sector will seek bailouts this year after being hit hard by the worst global financial crisis since the World War II.

The President of AfDB, Dr Donald Kaberuka, said before the crisis, the pan-African multilateral bank was lending out US$6 billion to the continent annually on average.

"We had anticipated before the crisis that lending will grow by 40 percent but our estimates show that about US$11 billion will be needed to help Africa," Kaberuka said on Tuesday at a press conference at the Grand Palm Hotel in Gaborone.

Editor's Comment
Women unite for progress

It underscores the indispensable role women play in our society, particularly in building strong households and nurturing families. The recognition of women as the bedrock of our communities is not just a sentiment; it's a call to action for all women to stand together and support each other in their endeavours.The society's aim to instil essential principles and knowledge for national development is crucial. By providing a platform for...

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