Africa sees robust 2008 despite subprime-AfDB

Bank President Donald Kaberuka told Reuters Asian demand for Africa's resources and better economic management by African governments had so far protected the continent's countries from the financial turbulence beyond its shores."On first round effects there is no impact so far," he said, referring to the performance of individual companies.

"My view on second round effects is also that African growth can remain robust in 2008, with expectations of 6.5 percent," he said of the effects on national economies in general. The only multilateral development body specifically devoted to Africa, the AfDB lends commercially to Africa's richest nations and lends at concessionary rates to poor ones from its African Development Fund, financed largely by Western donors.Its shareholders include Africa's 53 nations and 24 non-African donor countries.