Development Cooperation Minister Meryame Kitir announced in a statement that the Council of Ministers on Friday approved a draft law approving Belgium's subscription to the 7th general capital increase of the African Development Bank (AfDB).

Belgium has just subscribed to the AfDB's capital increase. Indeed, the draft general budget of expenditure for the 2021 budget year provides for a commitment amount of 38,450,000 euros for this capital increase, or 4,807,000 euros per year during the period 2021-2028, says the minister.

It should be noted that the AfDB was established in 1964. The objective of this multilateral development finance bank is to contribute to sustainable development in Africa. In October 2019, it launched a giant capital increase of $115 billion (€95 billion).