The African Development Bank Group (AfDB) or Banque Africaine de Développement (BAD) is a multilateral development finance institution. The AfDB was founded in 1964 and comprises three entities: The African Development Bank, the African Development Fund and the Nigeria Trust Fund. The AfDB's mission is to fight poverty and improve living conditions on the continent through promoting the investment of public and private capital in projects and programs that are likely to contribute to the economic and social development of the region. The AfDB is a financial provider to African governments and private companies investing in the regional member countries (RMC). While it was originally headquartered in Abidjan, Côte d'Ivoire, the bank's headquarters moved to Tunis, Tunisia, in 2003, due to the Ivorian civil war; before returning in September 2014.
|Motto||Building today, a better Africa tomorrow|
|Formation||September 10, 1964|
|Headquarters||Abidjan, Côte d'Ivoire|
|Board of Executive Directors|
|1,500 as of 31 December 2016|
Following the end of the colonial period in Africa, a growing desire for more unity within the continent led to the establishment of two draft charters, one for the establishment of the Organisation of African Unity (established in 1963, later replaced by the African Union), and for a regional development bank.
A draft accord was submitted to top African officials then to the Conference of Finance Ministers on the Establishment of an African Development Bank. This conference was convened by the United Nations Economic Commission for Africa (UNECA) in Khartoum, Sudan, from 31 July to 4 August. It was here that the agreement establishing the African Development Bank (AfDB) was cosigned by twenty-three African governments on 4 August1963. The agreement came into force on 10 September 1964.
The inaugural meeting of the Board of Governors of the Bank was held from 4 to 7 November 1964 in Lagos, Nigeria. The Bank's headquarters opened in Abidjan, Côte d’Ivoire, in March 1965 and the Bank's operations commenced on 1 July 1966. From February 2003 onwards, the Bank operated from its Temporary Relocation Agency in Tunis, Tunisia, owing to the prevailing political conflict in Côte d’Ivoire at the time. The Bank was able to return to its original headquarters in Abidjan in late 2013 once the political crisis was over. By June 2015, over 1,500 staff had returned to the Bank's Abidjan headquarters out of the more than 1,900 total staff complement at the Bank.
Although, originally, only African countries were able to join the bank, since 1982 it has allowed the entry of non-African countries as well.
Since its founding, AfDB has financed 2,885 operations, for a total of $47.5 billion. In 2003, it received an AAA rating from the major financial rating agencies and had a capital of $32.043 billion.
The African Development Bank Group has two other entities: the African Development Fund (ADF) and the Nigeria Trust Fund (NTF).
Established in 1972, the African Development Fund started operations in 1974."The African Development Fund" United Nations Convention to Combat Desertification (UNCCD) 2004], no longer available (2006) It provides development finance on concessional terms to low-income RMCs which are unable to borrow on the non-concessional terms of the AfDB. In harmony with its lending strategy, poverty reduction is the main aim of ADF activities. Twenty-four non-African countries along with the AfDB constitute its current membership. The largest ADF shareholder is the United Kingdom, with approximately 14% of the total working shares followed by United States with approximately 6.5 percent of the total voting shares, followed by Japan with approximately 5.4 percent. The Federal Reserve Bank of New York was designated as the depositor bank for the fund according to telegraphs sent from the U.S. Embassy in Abidjan in 1976.
The ADF's general operations are decided by a Board of Directors, six of which are appointed by the non-African member states and six designated by the AfDB from among the bank's regional Executive Directors.
The ADF's sources are mainly contributions and periodic replacements by non-African member states. The fund is usually replenished every three years, unless member states decide otherwise. The total donations, at the end of 1996, amounted to $12.58 billion. The ADF lends at no interest rate, with an annual service charge of 0.75%, a commitment fee of 0.5%, and a 50-year repayment period including a 10-year grace period. The tenth United Kingdom replenishment of the ADF was in 2006.
The Nigeria Trust Fund (NTF) was established in 1976 by the Nigerian government with an initial capital of $80 million. The NTF is aimed at assisting in the development efforts of the poorest AfDB members.
The NTF uses its resources to provide financing for projects of national or regional importance which further the economic and social development of the low-income RMCs whose economic and social conditions require financing on non-conventional terms. In 1996, the NTF had a total resource base of $432 million. It lends at a 4% interest rate with a 25-year repayment period, including a five-year grace period.
The AfDB is controlled by a Board of Executive Directors, made up of representatives of its member countries. The voting power on the Board is split according to the size of each member's share, currently 60%-40% between African (or "regional") countries and “non-regional” member countries (“donors”). The largest African Development Bank shareholder is Nigeria with nearly 9 percent of the vote. All member countries of the AfDB are represented on the AfDB Board of Executive Directors.
Dr. Akinwumi Ayodeji Adesina is the 8th elected  President of the African Development Bank Group, having taken the oath of office on September 1, 2015. He chairs the Boards of both the African Development Bank and the African Development Fund. Dr. Adesina served as Nigeria's Minister of Agriculture and Rural Development from 2011 to 2015.
Member governments are officially represented at the AfDB by their Minister of Finance, Planning or Cooperation who sits on the AfDB Board of Governors. The AfDB Governors meet once a year (at the Annual Meetings of the AfDB each May) to take major decisions about the institution's leadership, strategic directions and governing bodies. The Governors typically appoint a representative from their country to serve in the offices of the AfDB's Board of Executive Directors.
Day-to-day decisions about which loans and grants should be approved and what policies should guide the AfDB's work are taken by the Board of Executive Directors. Each member country is represented on the Board, but their voting power and influence differs depending on the amount of money they contribute to the AfDB.
|ADB Unit of Account|
|User(s)||African Development Bank Group (African Development Bank, African Development Fund, Nigeria Trust Fund)|
The African Development Bank is using a Unit of Account which is registered as XUA as ISO 4217 standard currency code. It is not exchanged directly by individuals, it is used for accounting between state members.
The primary function of AfDB is making loans and equity investments for the socio-economic advancement of the RMC. Second, the bank provides technical assistance for development projects and programs. Third, it promotes investment of public and private capital for development. Fourth, the bank assists in organizing the development policies of RMCs. The AfDB is also required to give special attention to national and multinational projects which are needed to promote regional integration.
(i) Mobilizing financial resources from the Government or the foreign financial institutions with; (ii) A view to lending the money for development of specific sectors of the economy
The ADB promotes economic development and social progress of its RMCs in Africa and the bank commits approximately 3 billion dollars annually to African countries. Its relatively small lending and tendency to follow in the footsteps of more prominent public institutions like the World Bank, implies that the African Development Bank has been receiving little interest from civil society organizations as well as academia.
AfDB emphasizes the role of women along with education reforms, and lent its support to key initiatives such as debt alleviation for Heavily Indebted Poor Countries and the New Partnership for Africa's Development (NEPAD).
The Bank is currently based in Abidjan, Côte d'Ivoire again. It employs approximately 1,865 employees as of 2016, and has 80 members: 54 countries in Africa and 26 American, European, and Asian countries.
One of emerging views, repeatedly cited by the AfDB's Board of Directors and management, is that the AfDB should be more “selective” and “country-focused” in its operations. Though this policy has still to be clearly defined, it appears to be driving certain lending priorities.
The infrastructure sector, including power supply, water and sanitation, transport and communications, has traditionally received the largest share of AfDB lending. This focus was re-affirmed in the AfDB's 2003-2007 Strategic Plan, which identified infrastructure as a priority area for AfDB lending. In 2005, the AfDB approved 23 infrastructure projects for approximately $982 million, which totaled 40 percent of AfDB approvals that year. Given the increased attention to infrastructure development in Africa from donors and borrowers, it is likely that AfDB's infrastructure lending will increase significantly in the coming years. In 2007, infrastructure operations accounted for approximately 60 percent of the bank's portfolio.
Regional integration infrastructure projects will be a key part of the AfDB's future business. According to the AfDB's 2005 Annual Report, regional economic blocs will make Africa “more competitive in the global market”, while transport and power interconnections between smaller African economies will help create larger markets in the continent. The AfDB's member countries claim that AfDB, as a multilateral institution, is particularly suited to support regional integration projects.
The AfDB has been designated the lead agency to facilitate "NEPAD infrastructure initiatives", which are regional integration projects led by African Regional Economic Communities (RECs). Additionally, the AfDB hosts the Infrastructure Consortium for Africa (ICA). The ICA was established by G8 countries to coordinate and encourage infrastructure development in Africa, focusing on regional infrastructure development in particular. The AfDB helps to prepare projects so they may obtain financing from others sources through an initiative called the Infrastructure Project Preparation Facility (IPPF). So even if the AfDB is not directly involved in financing a particular infrastructure project, it may have helped to make it possible.
To date, the bank's contribution in the fight against HIV/AIDS is estimated at over UA 500 million. The bank is among the initiating partners of "AIDS in Africa – Scenarios for the future," a project whose outcome will enable governments and development partners alike to make strategic choices of current and future development paths and define their activities accordingly in order to face the challenges posed by HIV/AIDS.
Energy projects are likely to become a more important area of the AfDB's infrastructure work, given the lack of access to energy services across Africa and continued high oil prices affecting oil-importing countries. It is not clear if the AfDB's role in the energy sector will prioritize energy projects for domestic consumption or for export, although the AfDB has supported both in the past. The AfDB is currently drafting an energy policy and developing its contribution to the G8-mandated Clean Energy Investment Framework.
Although there is no official statement or consensus to this effect, AfDB lending for agriculture, (non-infrastructure) rural development and social sectors, such as health and education, is reportedly likely to decrease over the coming years.
In 2010, the African Development Institute became the focal point of the African Development Bank Group for capacity-building. The institute had been established in 1973 to enhance the effectiveness of the AfDB's funded operations. Its mandate was reoriented in 1992 and it was restructured in 2001.
The AfDB's financial standing has been restored from the near collapse of 1995, but its operational credibility remains a work-in-progress. A working group convened by the Center for Global Development, an independent Washington think tank, released a report in September 2006 that offered six recommendations for Bank's president and board of directors on broad principles to guide the Bank's renewal. The report contains six recommendations for management and shareholders as they address the urgent task of reforming Africa's development bank. Prominent among the recommendations is a strong focus on infrastructure.
While the AfDB's lending had not expanded significantly in recent years, 2006 figures indicate that things may be changing. Between 2005 and 2006, the AfDB's lending activities increased by more than 30 percent to $3.4 billion. Over the same period, private sector operations doubled in value. The AfDB has specific mandates from the New Partnership for Africa's Development (NEPAD) and other international organizations to take the lead amongst financial and development institutions in areas such as infrastructure, regional integration, and banking and financial standards in Africa. These mandates have also increased the AfDB's profile in the media. The increased international emphasis on Africa's development needs in recent years (for example, surrounding the 2005 Gleneagles G8 Summit), and on the importance of infrastructure investment in Africa, has highlighted the role of the AfDB.
Some research has indicated that a high percentage of respondents in African countries has a marked preference for additional aid from the African Development Bank, despite the fact its relatively low rating against most of the aid effectiveness criteria found to be important by donor recipients. This suggests that donor recipients in Africa views on the ‘multilateral donor of choice’ are informed by additional aid effectiveness criteria that are not commonly identified or reported against, though exactly what those criteria have not been discussed.
In general, whereas there has been progress at all levels with regard to democracy, growth and restoring the macro-economic balances in Africa over the past fifteen years, half of sub-Saharan Africa lives on under one dollar a day, and AIDS is threatening the social fabric of the continent. The studies conducted by various organizations (including the African Development Bank and the World Bank) show that, with the exception of northern and southern Africa, the United Nations Millennium Development Goals (reducing by half the number of persons living in poverty and without access to potable water by 2015) will in most cases not be attained. Nevertheless, these same studies indicate that the majority of the African countries can make notable progress to these ends.
African Development Bank's(AfDB) 4th annual conference outside Africa held in India (Gandhinagar, Gujarat) in May 22-26th 2017 at an event inaugurated by India's Prime Minister Narendra Modi. Previous conferences outside Africa were in Spain, China, Portugal.
AfDB Beneficiary Countries:
ADF Beneficiary Countries:
AfDB and ADF Beneficiary Countries:
Non-African Member Countries:
The following table are amounts for 20 largest countries by voting powers at the African Development Bank as of December 2014.
(% of Total)
The United Nations launched Development Business in 1978 with the support of the World Bank and many other major development banks from around the world. Today, Development Business is the primary publication for all major multilateral development banks including the African Development Bank, United Nations agencies, and several national governments, many of whom have made the publication of their tenders and contracts in Development Business mandatory.
Presidential elections were held in Benin on 13 March 2011 after being postponed twice from 27 February and 6 March 2011. Incumbent President Yayi Boni ran for re-election against thirteen other candidates, including former National Assembly head and political veteran Adrien Houngbédji and Abdoulaye Bio-Tchané, president of the West African Development Bank. He won 53.18% of the vote, enough to win a second term without a run-off. It is the first time since the restoration of democracy in Benin that a candidate has won the presidency in a single round. A second round run-off would have been held on 27 March 2011 if it had been necessary.Akinwumi Adesina
Akinwumi "Akin" Adesina is the President of the African Development Bank. He previously served as Nigeria's Minister of Agriculture and Rural Development. Until his appointment as Minister in 2010, he was Vice President of Policy and Partnerships for the Alliance for a Green Revolution in Africa (AGRA). In 2015, he was elected as the President of the African Development Bank. He was the first Nigerian to hold the post.Donald Kaberuka
Donald P. Kaberuka (born 5 October 1951) is a Rwandan economist and was the president of the African Development Bank from September 2005 until September 2015.East African Development Bank
The East African Development Bank (EADB) is a development finance institution with the objective of promoting development in the member countries of the East African Community.Economy of Chad
Landlocked Chad's economic development suffers from its geographic remoteness, drought, lack of infrastructure, and political turmoil. About 85% of the population depends on agriculture, including the herding of livestock. Of Africa's Francophone countries, Chad benefited least from the 50% devaluation of their currencies in January 1994. Financial aid from the World Bank, the African Development Bank, and other sources is directed largely at the improvement of agriculture, especially livestock production. Because of lack of financing, the development of oil fields near Doba, originally due to finish in 2000, was delayed until 2003. It was finally developed and is now operated by Exxon Mobil Corporation.International financial institutions
An international financial institution (IFI) is a financial institution that has been established (or chartered) by more than one country, and hence are subjects of international law. Its owners or shareholders are generally national governments, although other international institutions and other organizations occasionally figure as shareholders. The most prominent IFIs are creations of multiple nations, although some bilateral financial institutions (created by two countries) exist and are technically IFIs. The best known IFIs were established after World War II to assist in the reconstruction of Europe and provide mechanisms for international cooperation in managing the global financial system.
Today, the world's largest IFI is the European Investment Bank, with a balance sheet size of €573 billion in 2016. This compares to the two components of the World Bank, the IBRD (assets of $358 billion in 2014) and the IDA (assets of $183 billion in 2014). For comparison, the largest commercial banks each have assets of c.$2,000-3,000 billion.Kampala–Jinja Expressway
The Kampala–Jinja Expressway, also known as the Jinja–Kampala Expressway, is a proposed four-lane toll highway in Uganda, linking Kampala, the capital and largest city of Uganda, with the town of Jinja in the Eastern Region of Uganda.Kawempe General Hospital
Kawempe General Hospital, also known as the Kawempe General Referral Hospital, is a hospital in Uganda. It is an urban, general hospital built between 2014 and 2016 at an estimated cost of US$11.3 million (about UGX:40.6 billion). The hospital was constructed by the government of Uganda, with funding from the African Development Bank and the Nigeria Trust Fund.Kiruddu General Hospital
Kiruddu General Hospital, also known as Kiruddu General Referral Hospital, is a hospital in Uganda. It is an urban, public, general hospital. It cost an estimated US$10.3 million (about USh37 billion) plus about $350,000 in supervisory fees to build. The hospital was constructed by the government of Uganda, with funding from the African Development Bank (AfDB) and the Nigeria Trust Fund (NTF). The hospital opened to the public on 16 May 2016.List of diplomatic missions of Burundi
This is a list of diplomatic missions of Burundi, excluding honorary consulates. Burundi's relations with its neighbours have often been affected by security concerns. Hundreds of thousands of Burundian refugees have at various times crossed to neighboring Rwanda, Tanzania, and the Democratic Republic of the Congo. Hundreds of thousands of Burundians are in neighboring countries as a result of the ongoing civil war. Most of them, more than 340,000 since 1993, are in Tanzania. Some Burundian rebel groups have used neighboring countries as bases for insurgent activities. The 1993 embargo placed on Burundi by regional states hurt diplomatic relations with its neighbors; relations have improved since the 1999 suspension of these sanctions.
Burundi is a member of various international and regional organizations, including the United Nations, the African Union, and the African Development Bank. Burundi is also a member of the International Criminal Court with a Bilateral Immunity Agreement of protection for the US-military (as covered under Article 98). The Swedish Minister for Integration and Gender Equality, Nyamko Sabuni, was born in Burundi.List of international banking institutions
This is a list of International banking institutions
African Development Bank
Asian Development Bank
Asian Infrastructure Investment Bank
Bank for International Settlements
Bank of World Residence Program (BWRP)
Caribbean Development Bank
European Bank for Reconstruction and Development
European Investment Bank
Islamic Development Bank
Preferential Trade Area Bank
World Bank Group
International Bank for Reconstruction and Development (IBRD)
International Development Association (IDA)
International Finance Corporation (IFC)
Multilateral Investment Guarantee Agency (MIGA)
International Centre for Settlement of Investment Disputes (ICSID)Omar Kabbaj
Omar Kabbaj is advisor to King Mohammed VI of Morocco since 22 June 2006. He was the chairman of the African Development Bank from 26 August 1995 to 1 September 2005.
Before that, he was a member of the board of the International Monetary Fund (1980–1993) and member of the Board of Directors of the World Bank (1979–1980) and Minister Delegate to the Prime Minister of Morocco, in charge of affairs Economic, from 1993 to 1995.
Omar Kabbaj is also a Knight of the Order of the Throne of Morocco. He holds a Master in management from Toulouse Business School.Philip Mpango
Philip Mpango (born July 14, 1957) is the current Minister of Finance of Tanzania, in office since 2015.Transport in Zimbabwe
The government of Zimbabwe is the main provider of air, rail and road services; historically, there has been little participation of private investors in transport infrastructure.Uganda Development Bank Limited
The Uganda Development Bank Limited (UDBL) is a government-owned development bank in Uganda.Uganda Securities Exchange
The Uganda Securities Exchange (USE) is the principal stock exchange of Uganda. It was founded in June 1997. The USE is operated under the jurisdiction of Uganda's Capital Markets Authority, which in turn reports to the Bank of Uganda, Uganda's central bank.The exchange opened to trading in January 1998. At that time, the exchange had just one listing, a bond issued by the East African Development Bank. Trading was limited to only a handful of trades per week.As of July 2014, the USE traded 16 listed local and East African companies and had started the trading of fixed income instruments. The exchange is a member of the African Stock Exchanges Association.The USE operates in close association with the Dar es Salaam Stock Exchange in Tanzania, the Rwanda Stock Exchange, and the Nairobi Stock Exchange in Kenya. According to published reports in 2013, there were plans to integrate the four exchanges to form a single East African bourse.Uganda All Stock Index (ALSIUG) is the benchmark Index of the Uganda Securities Exchange.Water supply and sanitation in Mozambique
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Beginning in 1998, Mozambique has reformed the formal part of the urban water supply sector through the creation of an independent regulatory agency called CRA, an asset-holding company called FIPAG and a public-private partnership (PPP) with a company called Aguas de Moçambique. The PPP covered those areas of the capital and of four other cities that had access to formal water supply systems. However, the PPP ended when the management contracts for four cities expired in 2008 and when the foreign partner of the company that serves the capital under a lease contract withdrew in 2010, claiming heavy losses.
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African Union (AU)