AfDB

The African Development Bank (AfDB) is the lead multilateral development finance institution serving the African continent. It was established by the Agreement Establishing the African Development Bank, signed in Khartoum, Sudan, on 4 August 1963, and entered into force on 10 September 1964. The Bank began operations in 1966 with its headquarters in Abidjan, Côte d'Ivoire, where it remains based today (operations were temporarily relocated to Tunis between 2003 and 2014 during the Ivorian political crisis).

The AfDB Group comprises three entities: the African Development Bank itself, the African Development Fund (ADF) created in 1972 to provide concessional financing to low-income African countries, and the Nigeria Trust Fund (NTF) established in 1976.

Membership originally was restricted to African states, but the Bank opened to non-regional members in 1982 to expand its capital base. It now has 81 member countries: 54 regional (African) members and 27 non-regional members, including the United States, Japan, Germany, France, the United Kingdom, China, India, and Brazil. Voting power is weighted by capital subscription, but regional members collectively hold roughly 60% of the shares, with non-regional members holding around 40%.

The Bank is governed by a Board of Governors (typically finance ministers of member states), a Board of Directors, and a President elected to a five-year term. Akinwumi Adesina of Nigeria has served as President since 2015.

The AfDB's operational priorities are framed by the "High 5s" strategy adopted in 2015: Light up and power Africa, Feed Africa, Industrialize Africa, Integrate Africa, and Improve the quality of life for the people of Africa. The Bank finances infrastructure (energy, transport, water), agriculture, governance reform, private-sector development, and regional integration projects, often co-financing with the World Bank, IMF, and bilateral donors.