TUNIS – The African Development Bank (AfDB) has decided to open an office in Angola to speed up the approval of loans and to ‘improve dialogue,’ the bank announced on Monday.
‘Apart from improving dialogue between the AfDB and its member states, the mission of a new bureau is to speed up decision-making on the approval of loans,’ a statement from the group said.Opening an office in the southern African country will provide technical banking assistance and also help decentralise the activities of the AfDB, which moved to Tunis in 2003, leaving its headquarters in Abidjan because of the insurgency that divided Ivory Coast from 2002.The bank has 25 representative offices scattered around the continent and the AfDB group also includes the African Development Fund and the Special Fund for Nigeria, Africa’s most populous nation.AfDB shareholders include all 53 African nations and 24 non-regional members including European Union countries, Brazil, Canada, China, India, Japan, Saudi Arabia and the United States. -Nampa-AFP
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