Improving Governance in Africa

2015 income continues to fund key development initiatives (in USD million) 2015 2014 2013 2012 2011 Income before distribution approved by the board Distribution of income approved by the board Net Income 129 220 278 305 253 172 174 166 169 173 -43 46 112 136 80 (in USD million) 2015 2014 2013 2012 2011 Income before distribution approved by the Board Adjusted for: 129 220 278 305 253 - Unrealized (gain)/loss on derivatives and borrowings - Translation (gain)/loss 69 43 -53 16 5 -20 6 -21 3 43 - Fair valuation (gain)/loss of macro hedge swaps Allocable Income (Income - Adjustments) 13 19 29 15 -5 190 287 234 339 295 The income distributions approved by the Board of Governor for key development initiatives are reported as expenses in the Income Statement in the year such distributions are approved. The decisions on income distribution approved by the Board are made on the basis of Allocable Income The allocable income represents the income before distribution for the year adjusted with unrealized gain/(loss) on borrowings and related derivatives and translation gain/(Loss). 30

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