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African Development Bank
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African Development Bank

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Also known as: ADB, Banque Africaine de Développement
Last Updated: • Article History
Category: History & Society
French:
Banque Africaine de Développement
Date:
August 1963 - present
Headquarters:
Abidjan
Areas Of Involvement:
economic growth
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African Development Bank (ADB), African organization established in 1964, operational beginning in 1966, and dedicated to financing the economic and social development of its African member countries. Its membership includes 53 African states and 24 non-African countries. ADB headquarters are in Abidjan, Côte d’Ivoire.

The ADB group of financing bodies includes the African Development Fund, which grants interest-free loans to impoverished African countries, and the Nigeria Trust Fund. The ADB has five associated institutions through which public and private capital is channeled: the African Import-Export Bank (Afreximbank), the Africa Reinsurance Corporation (Africa-Re), the Société Internationale Financière pour les Investissements et le Développement en Afrique (SIFIDA), the Association of African Development Finance Institutions (AADFI), and Shelter-Afrique.