September 2, 2010 03:10AM

The African Development Bank (AfDB) expects to lend $2.2 billion to the private sector in 2011, up from the $2 billion forecast for this year, a senior bank official said on Wednesday.The bank’s president said earlier this year that he expected overall lending to go up after the AfDB’s backers gave it a three-fold increase in its capital base, partly in recognition of its role in softening the impact of the global slowdown.

“In 2011 we have many projects for the private sector in infrastructure, energy, transport, telecommunications and agriculture,” Tim Turner, director of the AfDB’s private sector department, told Reuters.

AfDB President Donald Kaberuka said last year the AfDB would lend about $7 billion to African governments and firms in 2010. The bank’s shareholders are Africa’s 53 nations and 24 non-African donor countries.

Source:NEXT