Africa: EU banks refuse loans to firms doing business with Africa

Some European banks are now refusing to lend to firms trading with Africa, threatening growth in the world's poorest continent, a senior official of the African Development Bank (AfDB) said on Tuesday. The reluctance of some banks to make Africa-related loans as Europe's own debt crisis turns them increasingly risk-averse is an ominous sign as it repeats one aspect of the 2008 credit crisis.