BankHeadOffice.com         Bank Head Office Worldwide   ♦ Loan Calculators ♦ Mortgage Guides ♦ Banking FAQs ♦ Banking Institutions ♦ Central Banks Worldwide       Home  »  International Banking Institutions  »  African Development Bank African Development Bank The African Development Bank Group (French: Banque africaine de développement / Portuguese: Banco Africano de Desenvolvimento) is a development bank established in 1964 with the intention of promoting economic and social development in Africa. The Group comprises the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). AfDB provides loans and grants to African governments and private companies investing in the regional member countries (RMC) in Africa.   It is owned and funded by member governments, and has a public-interest mandate to reduce poverty and promote sustainable development. The largest share of AfDB lending goes to infrastructure projects, followed by multi sector operations, which are usually loans for various policy reforms or general budget support for a government. AfDB support for infrastructure, private sector development, and the extractive industries (particularly mining) is expected to increase over the coming years. The AfDB has four principal functions as follow:  • it makes loans and equity investments for the economic and social advancement of the regional member countries (RMC);  • it provides technical assistance for the preparation and execution of development projects and programs;  • it promotes investment of public and private capital for development purposes;  • it assists in coordinating development policies and plans of RMCs. The AfDB is also required to give special attention to national and multinational projects and programs which promote regional integration. African Development Bank HQ Address: Rue Joseph Anoma, 01 BP 1387 Abidjan 01 Côte d'Ivoire Tel: +216 7110 3900 (Tunis Temporary Relocation Agency) Fax: N/A Website: www.afdb.org Email: afdb@afdb.org Banking Hours: Monday - Friday : 9:30 am - 5:30 pm   The African Development Bank Group has two other entities: the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). 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. DISCLAIMER The content comes from Internet, reasonable efforts are made to maintain accuracy of information published. However, information could contain errors or inaccuracies and is presented without warranty and statutory means. No liability is assumed for errors or omissions. Viewers are advised to consult their banker or financial consultant for complete information and their professional advise. All trademarks, logos, brand names and copyrights are the property of their respective owners. © 2011 - 2022 BankHeadOffice.com ® All Rights Reserved