The
African Development Bank Group (
ADB)
is a multilateral development finance institution established to
contribute to the economic development and social progress of African
countries. 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, during the civil war in Côte d'Ivoire.
| Formation |
August 4, 1963 |
|---|
| Type |
International organization |
| Legal status |
Treaty |
| Purpose |
Regional development |
| Headquarters |
Abidjan, Ivory Coast (statutory)
Tunis, Tunisia (temporary) |
| Membership |
78 countries |
| President |
Donald Kaberuka |
| Main organ |
Board of Executive Directors |
| Website |
African Development Bank |
