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.
AfDB’s Mission -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).
Headquarter Abidjan, Cote d’Ivoire.
Membership Originally, only African countries were allowed to be members. But, since 1982,non-African countries are also allowed to be members. Key non-African Member countries USA, UK, Japan, Germany, France , India, Canada etc.
AfDB – Facts 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. All member countries of the AfDB are represented on the AfDB Board of Executive Directors.
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