African Development Bank
The African Development Bank Group includes the following three sub-organizations:
- The African Development Bank ( AfDB also AfDB ) founded in 1964
- The African Development Fund ( AfDF, also ADF), founded in 1972
- And the ( small ) Nigeria Special Fund (Nigeria Trust Fund NTF ), founded in 1976
The object of the banking group is to promote the economic development and social progress in the African member countries by granting loans. Priority is given to projects with national development impulses. The head office of the bank is in Abidjan (Ivory Coast).
End of 2002 the amount of loans granted amounted to open ( in U.S. dollars ):
- 8.1 billion at the AfDB,
- 8.9 billion in the AfDF and
- 110 million at the NTF.
The AfDF appears to be primarily responsible for lending to the poorest and most heavily indebted countries.
Many African and non-African countries are members and hold shares in the three sub- organizations. The accession of non-African countries has been possible since 1979. Germany, for example, occurred in 1983.
Internal unit of account is the Unit of Account ( UA). The end of 2002, the value of UA was about 1.30 €.
- 3.1 Beneficiary countries AfDB
- 3.2 Beneficiary countries AfDF
- 3.3 Beneficiary countries NTF
President
President of the AfDB have been:
1 Interim