African Development Bank Meeting Overshadowed by Shrinking Aid and Ebola
The African Development Bank's annual meeting convenes amidst declining overseas development aid and an Ebola outbreak. The US has significantly reduced its contributions to development funding.
African leaders and financiers gathered for the African Development Bank’s annual meeting on Monday as the continent faces shrinking aid flows, with this week’s event in Congo Republic overshadowed by an Ebola outbreak across the border. Overseas development aid from the world’s richest nations to poorer countries dropped by nearly a quarter last year to US$174.3 billion. The US led the cuts, including reduced funding to the concessional lending arm of the AfDB – Africa’s largest development...