African Development Bank (AfDB)

Banque Africaine de Developpement

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:

Sustainable Development Goals (SDGs) of the AfDB

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:

  1. African Development Fund (ADF) established in 1973 as a soft loan window. It is a legal entity distinct from ADB (with only non-African shareholders), having the responsibility to grant interest-free loans to the poorest African countries.
  2. Nigeria Trust Fund (NTF). This is the third major institution of the ADP Group. NTF was set up jointly by the ADP and the Nigerian government in 1976.
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