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The Bank after 50 years. Fifty years on, in 2014, the African Development Bank Group marks its 50th anniversary. In five decades, it has financed more than 4,100 operations for a continent that passed the one billion mark in 2010. At the time, it comprised 79 countries.
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] Mission.
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AfDB is the continent’s largest development finance institution. Fifty years ago, on 4 November 1964, Ministers from 23 then independent African States convened in Lagos, Nigeria, for the inaugural meeting of the Board of Governors of the African Development Bank. The young Institution was assigned a dual mandate: the social and economic ...
May 8, 2024 · 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.
- The Editors of Encyclopaedia Britannica
Jan 13, 2023 · The seeds for the idea of starting the AfDB came in the 1950s when the colonial period began coming to an end for Africa. The Organization of African Unity (today known as the African Union) sought to unify the continent and provide financing to help meet the development needs of African countries.
Nov 6, 2023 · Founded in 1964, the African Development Bank Group is comprised of the African Development Bank, the African Development Fund, and the Nigeria Trust Fund. Its overall mission is to contribute...
