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Jun 25, 2024 · The African Development Bank Group is a regional multilateral development finance institution established to contribute to the economic development and social progress of African countries that are the institution's Regional Member Countries.
The African Development Bank Group (AfDB, also known as BAD in French) is a multilateral development finance institution, headquartered in Abidjan, Ivory Coast since September 2014. The AfDB is a financial provider to African governments and private companies investing in the regional member countries (RMC).
The African Development Bank is the Group's parent organization. The Agreement establishing the African Development Bank was adopted and opened for signature at the Khartoum, Sudan, conference on August 4, 1963.
OVERVIEW OF THE AFRICAN DEVELOPMENT BANK GROUP – IN BRIEF. To promote sustainable economic growth and reduce poverty in Africa. * UA: Unit of Account. As at 31 December 2022, 1 Unit of Account (UA) was equivalent to 1.33 USD.
The African Development Bank Group unveiled its new Ten-Year Strategy 2024–2033 today, a blueprint to confront Africa’s pressing challenges and to help put the continent firmly back on track towards sustained economic growth and prosperity.
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In its latest annual report released on 25 May 2023, the African Development Bank Group highlights its critical contributions to the continent’s development and the wellbeing of its people in 2022.
