African Development Bank
Multilateral development bank financing Africa's economic growth and social progress
African Development Bank — Official Site (FAQ)The African Development Bank Group (AfDB) is a multilateral development finance institution that provides financing to African governments and private companies investing across the continent. Its core mission is to contribute to the sustainable economic development and social progress of its African Regional Member Countries (RMCs).
Founded when 23 African governments signed the establishing agreement on August 4, 1963 in Khartoum, Sudan (in force September 10, 1964), the Bank began work in 1965 and launched its first projects in 1966–1967. It is headquartered in Abidjan, Côte d'Ivoire, where it has been based again since September 2014. The Group comprises three entities: the African Development Bank (AfDB), the African Development Fund (ADF), and the Nigeria Trust Fund (NTF), with the Board of Executive Directors as its main governing organ.
The Bank has 81 shareholder countries—54 African (regional) members and 27 non-African (non-regional) members from Europe, the Americas, and Asia. Its current President is Sidi Ould Tah, and it employs approximately 2,100 people (2,123 as of December 31, 2022).
As a major development financier operating at continental scale, innovations in financing, project delivery, and economic development are directly relevant to the Bank's mandate and its work with governments and private companies across Africa.