Prime Minister Stephen Harper announced at a working dinner with his G20 counterparts Thursday evening that Canada will offer approximately $2.5 billion to the African Development Bank.
The money is temporary callable capital – it is not direct cash but guaranteed investment if the bank runs up against its lending limit.
The credit crisis is affecting developing countries gain access to credit and development banks have had to expanded lending to fill that need, said a senior government official.
Canada recently pledged $4 billion in additional callable capital to the Inter-American Development Bank.
