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The EADB is the first regional bank to be established in Sub-Saharan Africa with its initiation in 1967. [15] Moreover, in November 2014, the Association of African Development Finance Institutions ranked EADB, "the best performing development finance institution in Africa" for the second consecutive year, with an AA rating.
The largest African Development Bank shareholder is Nigeria with nearly 9% of the vote. All member countries of the AfDB are represented on the AfDB Board of Executive Directors. Dr. Akinwumi Ayodeji Adesina is the 8th elected President of the African Development Bank Group, having taken the oath of office on September 1, 2015. He chairs the ...
The regional development banks consist of several regional institutions that have functions similar to the World Bank group's activities, but with particular focus on a specific region. Shareholders usually consist of the regional countries plus the major donor countries.
The Bank was created for the purpose of strengthening economic, financial and technical cooperation between the Arab and African regions and for the embodiment of Arab-African solidarity on foundations of equality and friendship. To achieve this end, the Bank was given a mandate to: Participate in financing economic development in African ...
These include the African Development Bank, the European Investment Bank, the Export and Import Bank of India (Exim Bank), [1] and the People's Bank of China. [2] The president of the bank's board is chosen by the heads of state of UEMOA, and since January 2008, Abdoulaye Bio-Tchane. The bank's day-to-day operations are carried out by the ...
The Development Bank of Southern Africa (DBSA) is a development finance institution wholly owned by the Government of South Africa.The bank intends to "accelerate sustainable socio-economic development in the Southern African Development Community (SADC) by driving financial and non-financial investments in the social and economic infrastructure sectors".
The Regional Economic Communities (RECs) in Africa group together individual countries in subregions for the purposes of achieving greater economic integration. They are described as the "building blocks" of the African Union and are also central to the strategy for implementing the African Development Development Agency (AUDA-NEPAD).
By virtue of its Articles of Association the Bank aims to: Contribute to attaining the objectives of the Community by supporting infrastructure projects relating to regional integration or any other development projects in the public and private sectors; and; Assist in the development of the Community by funding special programmes.