Sunday 5 April 2009

G20 agree large increases to Africa's funding available through IFIs

The G20 group of the world's largest economies have agreed to increase available funding for African states. The increase comes as part of a wider capital expansion for the international financial institutions. The details are in their pdf document here.

The funding will be available through various IMF and African Development Bank routes. The document also says that the review of IMF quotas (and hence voting rights) will be accelerated.

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