The African Development Bank (AfDB) Group, headquartered in Abidjan, Côte d’Ivoire, is a regional development finance institution established in 1963 to contribute to the economic development and social progress of African countries that are the institution’s Regional Member Countries (RMCs). The AfDB is one of the five major multilateral development banks in the world that provides assistance to its regional member countries with the purpose of helping them achieve their development goals.
The AfDB consists of three entities:
– the African Development Bank (ADB),
– the African Development Fund (ADF), and
– the Nigeria Trust Fund (NTF).
As the premier development financial institution on the continent, AfDB’s primary objective is to support economic development initiatives that work towards reducing the poverty and enhancing the quality of life for Africans by mobilizing resources available throughout the continent, along with the support of its regional member countries (RMCs).