AfDB approves 3rd sovereign lending instrument

The Board of Directors of the African Development Bank Group (AfDB) has approved the Bank’s third sovereign lending instrument called the Results-Based Financing (RBF) Policy. In statement, the lender said the RBF will be its third financing instrument to complement the two existing instruments, namely, investment lending and program-based operations (PBOs). RBF is an additional, innovative, financing instrument that supports …