The Assembly of People’s Representatives (ARP) passed at a plenary session Thursday a bill on authorizing the state to subscribe for the seventh general capital increase of the African Development Bank (AfDB), as well as securities created under Ireland’s membership of the AfDB, and which represent one billion 220 million and 350 1, 220 350 000 units of calculation.
This draft law aimed at helping the AfDB mobilize more financial resources to finance its operations was approved by 108 MPs, while 3 abstained and no one rejected it.
The Board of Governors of the AfDB Group approved at its fifth extraordinary meeting held, October 31, 2019, the decision on the seventh general increase of about 125% in the capital of the Bank.
