African Development Bank was officially founded in 1964 but the Agreement establishing the African Development Bank was adopted and opened for signature at the Khartoum, Sudan, conference on August 4, 1963: the agreement entered into force on September 10, 1964. Originally, the bank’s capital stock was subscribed be African States. In order to expand its capital base non-African members have been accepted beginning in 1983. Actually, the bank started gaining momentum in the 1980s. All independent countries on the African continent are now members of the Bank, including South Africa assumption of membership in 1995. The primary objective is to contribute to the economic and social development of its regional member countries (RMCs) – individually and collectively, primarily to promote sustainable economic growth and reduce poverty in Africa. The African Development Bank, as of December 31, 2018, authorized capital is subscribed to by 80 member countries (54 independent African countries and 26 non-African countries) – regional member countries and non-regional member countries respectively. In 2015, African Development Bank published 17 Sustainable Development Goals (SDGs) agreed upon by all multilateral development institutions as set of AfDB objectives:
Goal 1. End poverty in all its forms everywhere
Goal 2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture
Goal 3. Ensure healthy lives and promote well-being for all at all ages
Goal 4. Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all
Goal 5. Achieve gender equality and empower all women and girls
Goal 6. Ensure availability and sustainable management of water and sanitation for all
Goal 7. Ensure access to affordable, reliable, sustainable and modern energy for all
Goal 8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
Goal 9. Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation
Goal 10. Reduce inequality within and among countries
Goal 11. Make cities and human settlements inclusive, safe, resilient and sustainable
Goal 12. Ensure sustainable consumption and production patterns
Goal 13. Take urgent action to combat climate change and its impacts
Goal 14. Conserve and sustainably use the oceans, seas and marine resources for sustainable development
Goal 15. Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss
Goal 16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels
Goal 17. Strengthen the means of implementation and revitalize the global partnership for sustainable development
ABD is part of the African Development Bank Group which also includes: