African Development Bank
Multilateral development finance institution / From Wikipedia, the free encyclopedia
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Not to be confused with Asian Development Bank.
The African Development Bank Group (AfDB) or Banque Africaine de Développement (BAD) is a multilateral development finance institution headquartered in Abidjan, Ivory Coast, since September 2014.[1][2] The AfDB is a financial provider to African governments and private companies investing in the regional member countries (RMC).[3]
Quick Facts Abbreviation, Formation ...
Abbreviation | AfDB |
---|---|
Formation | September 10, 1964; 59 years ago (1964-09-10) |
Type | International organization |
Legal status | Treaty |
Purpose | Regional development |
Headquarters | Abidjan, Ivory Coast |
Membership | 81 countries |
President | Akinwumi Adesina |
Main organ | Board of Executive Directors |
Staff | 2,123 as of 31 December 2022 |
Website | www |
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The AfDB was founded in 1964 by the Organisation of African Unity, which is the predecessor of the African Union.
The AfDB comprises three entities: The African Development Bank, the African Development Fund and the Nigeria Trust Fund.[4][5]