What is the African Development Bank Group?
The African Development Bank (AfDB) Group was established to contribute to the economic development and social progress of African countries that are the institution’s Regional Member Countries (RMCs). Also, It is known as a regional multilateral development finance institution
However, the bank was established on 14th August 1963 in Khartoum, Sudan based on the signed agreement by member states. Note, the group is made up of three bodies; the African Development Bank (ADB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF).
Moreso, As the premier development finance institution on the continent, the AfDB’s mission is to help reduce poverty, improve living conditions for Africans and mobilize resources for the continent’s economic and social development. The AfDB headquarters is officially in Abidjan, Côte d’Ivoire.