African Development Bank signs $3.2 billion Exposure Exchange with Inter-American Development Bank

Cote Dlvoire, April 28 -- The African Development Bank Group has signed a $3.2 billion Exposure Exchange Agreement with the Inter-American Development Bank (IADB), renewing a prior agreement originally executed between the two institutions in 2015. The agreement was signed in Washington DC, on the sidelines of the World Bank Group and International Monetary Fund Spring meetings.This is the fourth exposure exchange undertaken by the African Development Bank with other Multilateral Development Banks, in the continuous pursuit of innovative ways of strengthening the capital adequacy and efficiency of Multilateral Development Banks, as well as boost their development lending capacity.Since 2015, the African Development Bank has used these agree...