African Development Bank

African Development Bank
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Name	African Development Bank
Headquarters	Abidjan, Ivory Coast
Membership	54 African Union countries, Japan, Germany, United Kingdom, United States, France, China, India, and others
Leaders	Akinwumi Adesina, Donald Kaberuka

African Development Bank is a multilateral development finance institution that aims to promote economic development and social progress in Africa. The bank was established in 1964 and is headquartered in Abidjan, Ivory Coast, with a temporary relocation to Tunis, Tunisia from 2003 to 2014 due to the Ivorian civil war. The bank's membership includes 54 African Union countries, as well as Japan, Germany, United Kingdom, United States, France, China, India, and others, such as Canada, Italy, and Portugal. The bank has worked closely with other international organizations, including the World Bank, International Monetary Fund, and United Nations Development Programme.

● History

The African Development Bank was established on August 4, 1963, in Khartoum, Sudan, with the signing of the African Development Bank Agreement by 23 African governments. The bank began operations on July 10, 1966, with Elliot Kamanda as its first president, and has since undergone several transformations, including the creation of the African Development Fund in 1972 and the introduction of the Private Sector Department in 1982. The bank has also played a key role in supporting regional integration efforts in Africa, including the creation of the African Economic Community and the New Partnership for Africa's Development. The bank has worked closely with other regional organizations, such as the Economic Community of West African States, Southern African Development Community, and East African Community. The bank's history is also closely tied to that of its host country, Ivory Coast, and the bank has worked to support the country's development, including through the Ivory Coast's membership in the West African Economic and Monetary Union.

● Membership_and_Governance

The African Development Bank has a membership of 54 African Union countries, as well as 26 non-regional member countries, including Japan, Germany, United Kingdom, United States, France, China, India, and others. The bank is governed by its Board of Governors, which is composed of one governor and one alternate governor from each member country, and is chaired by the Minister of Finance of Egypt. The bank's governance structure also includes a Board of Directors, which is responsible for the day-to-day management of the bank, and is composed of 18 members, including 12 from regional member countries and 6 from non-regional member countries. The bank has also established a number of regional offices, including in Nairobi, Kenya, Pretoria, South Africa, and Yaoundé, Cameroon, to support its operations in different regions of Africa. The bank works closely with other international organizations, such as the World Trade Organization, International Labour Organization, and United Nations Conference on Trade and Development.

● Operations_and_Policies

The African Development Bank's operations are guided by its Long-Term Strategy, which focuses on supporting sustainable economic growth and poverty reduction in Africa. The bank's policy framework is also informed by its High 5s priorities, which include Light Up and Power Africa, Feed Africa, Industrialize Africa, Integrate Africa, and Improve the Quality of Life for the People of Africa. The bank has also established a number of special funds, including the African Development Fund, the Nigeria Trust Fund, and the Multi-Donor Trust Fund for Trade and Regional Integration in West Africa, to support its operations in different areas. The bank works closely with other organizations, such as the African Union Commission, United Nations Economic Commission for Africa, and African Capacity Building Foundation, to support its operations and policies. The bank has also partnered with other organizations, such as the Bill and Melinda Gates Foundation, Mastercard Foundation, and Agence Française de Développement, to support its development initiatives.

● Organization_and_Management

The African Development Bank is headed by a President, who is elected by the Board of Governors for a five-year term, and is assisted by a number of Vice-Presidents and Department Directors. The bank's management structure also includes a number of departments, including the Economic Governance and Knowledge Management Department, the Agriculture and Agro-Industry Department, and the Infrastructure, Cities and Urban Development Department. The bank has also established a number of regional hubs, including in Abidjan, Ivory Coast, Tunis, Tunisia, and Nairobi, Kenya, to support its operations in different regions of Africa. The bank works closely with other international organizations, such as the World Health Organization, United Nations Children's Fund, and Food and Agriculture Organization, to support its development initiatives. The bank has also partnered with other organizations, such as the African Development Bank Institute, African Export-Import Bank, and African Finance Corporation, to support its operations and management.

● Projects_and_Initiatives

The African Development Bank has supported a wide range of projects and initiatives in Africa, including in the areas of infrastructure development, agricultural development, and human development. The bank has also supported a number of regional integration initiatives, including the creation of the African Continental Free Trade Area and the development of the Trans-African Highway. The bank has also launched a number of initiatives, including the Africa Investment Forum, the African Development Bank's Jobs for Youth in Africa Initiative, and the African Development Bank's Climate Change and Green Growth Initiative. The bank works closely with other organizations, such as the European Investment Bank, Asian Development Bank, and Inter-American Development Bank, to support its projects and initiatives. The bank has also partnered with other organizations, such as the African Business Roundtable, African Private Sector Forum, and African Stock Exchanges Association, to support its development initiatives.

● Finance_and_Funding

The African Development Bank is funded through a combination of paid-in capital and callable capital from its member countries, as well as through borrowing on the international capital markets. The bank has also established a number of special funds, including the African Development Fund and the Nigeria Trust Fund, to support its operations in different areas. The bank's financial management is guided by its Financial Regulations, which are designed to ensure the bank's financial sustainability and accountability. The bank works closely with other international organizations, such as the International Finance Corporation, World Bank Group, and European Bank for Reconstruction and Development, to support its finance and funding initiatives. The bank has also partnered with other organizations, such as the African Export-Import Bank, African Finance Corporation, and Ecobank, to support its development initiatives. The bank's finance and funding activities are also supported by its membership in the Multilateral Investment Guarantee Agency and the International Centre for Settlement of Investment Disputes.

Category:African Development Bank