East African Development Bank to Invest $1 Billion Over 5 Years

The East African Development Bank plans to lend at least $1 billion over the next five years, much of it for housing and infrastructure projects, said Vivienne Apopo, the bank’s director general.

For the first two years of the 2011-2015 strategy program, the bank will lend $100 million a year, before increasing that to an annual $300 million, Apopo said in an interview today in Kigali, Rwanda’s capital.