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The African Development Bank Group (AfDB) is a multilateral finance agency that has the aim to contribute to the economic development and social progress of African countries. The AfDB Group is comprised of three institutions: The African Development Bank (the parent institution), the African Development Fund and the Nigeria Trust Fund.

The AfDB promotes the investment of public and private capital in projects and programs. It provides funds to African governments and private companies investing in the regional member countries.

Cooperation with EITI

The AfDB cooperates closely with the Extractive Industry Transparency Initiative by mainstreaming EITI principles in its operations as well as supporting governments to implement EITI principles.

For further information see here.

The AfDB is in the process of establishing a centre to provide expertise and services on Natural Resource Management to the AfDB and its regional member countries.

For further information see here.

The 2013-2022 AFDB’s strategy

The 2013-2022 AFDB’s strategy includes two main objectives, namely

  • Inclusive growth:
    Poverty reduction shall be achieved through the expansion of job opportunities across age, gender and geography.
  • Green growth:
    Inclusive growth needs to be sustainable. Africa needs to gradually implement the transition to “green growth”, i.e. the protection of livelihoods; the improvement of water, energy and food security; the promotion of sustainable use of natural resources; as well as innovation, job creation and economic development

Following five priorities have been set to achieve the AFDB’s strategy:

  1. Infrastructure development:
    The Bank invests in transport, energy and water. It intends to scale up its infrastructure financing to the continent by leveraging its financial resources in addition to its own source of lending.
  2. Regional economic integration:
    The Bank shall play a leading role in supporting Africa’s economic integration. This means to create larger, more attractive markets; to link landlocked countries, including fragile states, to international markets; and to support intra-African trade.
  3. Private sector development:
    The private sector is where the most successful partners can be found what regards job creation. Therefore, the Bank shall continue to support and facilitate private investment in Africa by delivering finance and technical assistance and strengthening of the financial sector.
  4. Governance and accountability:
    Economic growth can only be built on the firmest foundations of just, transparent and efficient governance and institutions administered by a capable state. The Bank shall assist institutions that support inclusion of all actors of the society and actively promote accountability through the strengthening of the capacities of parliamentarians, the media and civil society organisations. It will also support fiscal decentralization and domestic resource mobilization to improve public financial management.
  5. Skills and technology: The Bank shall support technical and vocational trainings to equip young people of the informal and the formal sector. This shall include training to acquire the skills to create small businesses.

For further information, please check the African Development Bank Group’s website.