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T h e

A f r i c a n

D e v e l o p m e n t

B a n k

G r o u p

i n

N o r t h

A f r i c a

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The African Development Bank Group at a Glance

Who We Are & What We Do
he African Development Bank (AfDB)5 Group is the
premier source of multilateral financing for the
African continent. Established in 1963 as a Bank for
Africans, by Africans, the AfDB’s mission is to help
reduce poverty, improve living conditions and mobilize
resources for the economic and social development of
the continent’s 53 countries.

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infrastructure, connecting countries and crossing
borders. These projects have improved the quality of
education, augmented the depth of Africa’s growing
financial sectors and provided the continent with a
chance to compete in an increasingly global community.
The Bank Group’s compelling achievements have helped
build the Bank’s image and credibility in international
financial markets, while making possible its AAA ratings
from major international rating agencies. These ratings
reflect the AfDB’s strong shareholder support, preferred
creditor status, sound capital adequacy, and prudent
financial management and policies.

History of the African Development
Bank Group
The AfDB was created in 1963, in Khartoum,
Sudan, when 23 newly independent African
countries signed the Agreement establishing
the institution. In 1964, the Agreement came
into force when 20 member countries
subscribed to 65% of the Bank’s capital stock
of US$ 250 million. Less than two years later,
the institution opened its headquarters in
Abidjan, Côte d’Ivoire, and officially began
operations in 1966.

As part of its medium-term strategy 2008-2012, the
Bank has intensified its efforts to contribute to poverty
reduction and inclusive growth in Africa. The strategy
provides the framework that guides and sets direction
for the Bank at a critical time for Africa. Focusing the
Bank Group’s efforts on infrastructure, private sector
development, higher education, and governance, the
Medium Term Strategy allows the Bank to respond to
the continent’s changing needs and circumstances. The
Bank Group is emphasizing operational selectivity in order
to maximize effectiveness, while contributing to regional
integration efforts, middle-income country support, fragile
state assistance, as well as human and agriculture
development. Knowledge generation, climate change,
and gender are also mainstreamed in the Bank’s
operations.

African member countries provided all of AfDB
ordinary capital during the first two decades.
In 1982, membership was opened to include
non-African countries, enabling a capital
increase from about US$ 2.9 billion in 1982 to
US$ 6.3 billion in 1983.
Since its inception, the Bank Group has provided more
than UA 58 billion in development assistance to its regional
member countries. With close to 3,600 operations to date,
Bank Group projects have transformed the continent’s

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The African Development Bank Group (AfDB or Bank Group) consists of three related but financial independent institutions : African Development Bank
(ADB); African Development Fund (ADF); and Nigeria Trust Fund (NTF). Hereafter, references to the “Bank” refer to the Group at large.

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