AfDB to fast-track loan disbursements with a new model


The African Development Bank (AfDB) says a new Development and Business Delivery Model (DBDM) to improve performance, accountability and streamline processes for faster loan disbursement on the continent has been introduced.

The fact is contained in the January edition of bank’s newsletter released by its Nigeria Country Office in Abuja on Tuesday.

The newsletter said the introduction of the DBDM would usher in significant structural and procedural changes in the bank.

It said that the Nigeria Country Office would now be known as the Nigeria Country Department (RDNG) with effect from Jan. 1 this year.

The newsletter stated that Nigeria would be the only AfDB country office with departmental status as well as the largest single office of the AfDB overseeing  a portfolio of 6.1 billion dollars and dealing with 36 states of the federation, including the Federal Capital Territory.

“The DBDM is designed to enable the bank to deliver on its development priorities, the high fives (5s) to light up and power Africa, feed Africa, industrialise Africa, integrate Africa and improve the quality of life for the people of Africa.“

The DBDM, the bank maintained would move it closer to its clients and improve its work efficiency.