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August 29, 2015 5:25 PM ET

Diversified Financial Services

Company Overview of African Development Bank

Company Overview

African Development Bank operates as a multilateral development finance institution in Africa. It finances development projects and programs in cooperation with other national or international development institutions; offers technical assistance in the selection, study, and preparation of projects; and promotes investments of public and private capital in projects and programs designed to contribute to the economic and social progress of the regional member states. The company also provides sovereign guaranteed loans for public sector, and non-sovereign guaranteed loans for public and private sectors; lines of credit; agency lines; guarantees, such as partial credit and partial risk guarant...

Immeuble du Centre Commercial International d’Abidjan

Avenue Jean-Paul II

Plateau

01 Boite Postale

Abidjan,  1387

Ivory Coast

Founded in 1964

Phone:

225 20 20 48 22

Fax:

225 20 21 31 00

Key Executives for African Development Bank

Vice President of Finance
Chief Operating Officer and Director Office of First Vice President
Chief Operating Officer and First Vice President
General Counsel and Director
Compensation as of Fiscal Year 2015.

African Development Bank Key Developments

African Development Bank and Access Bank Sign Partnership Agreement

The African Development Bank and AccessBank Liberia Ltd. (ABL) have signed a technical assistance partnership agreement. The partnership is aimed at enhancing ABL's capacity to reach Liberian Micro, Small and Medium Enterprises (MSMEs).

African Development Bank Issues $20 Million Infrastructure Bonds to Japanese Life Insurance Company

The African Development Bank (AfDB) recently sold USD 20 million in infrastructure bonds to Fukoku Mutual Life Insurance Company (Fukoku Life). The company was the sole investor in the bond. Issuance of the infrastructure bonds is one of the alternative financing solutions which can support investments in various infrastructure projects while securing capital to match long-term needs. The Bank will use net profits from the infrastructure bonds to finance lending to infrastructure projects. The bonds were offered to Fukoku Life through a private placement format, with J.P. Morgan being the sole arranger of the bonds.

The African Development Bank Group Announces Executive Changes

The African Development Bank Group board welcomed the Executive Director for Nigeria and Sao Tome and Principe, Bright Okogu, at their regular meeting on June 3, 2015. commending the Bank for successfully electing its new President, Akinwumi Adesina, in a transparent and exemplary manner. Commending outgoing President Donald Kaberuka for the excellent work he accomplished in the Bank, Okogu urged the Bank to build on the successes he is leaving behind. Okogu worked closely with former Nigeria Finance Minister, Ngozi Okonjo-Iweala, as adviser and budget director, to close the deal that made Nigeria to achieve a big debt relief from the Paris Club of creditors. He had previously serviced in high positions at the Organization of Petroleum Exporting Countries, the International Monetary Fund, and as lecturer in Economics at the University of Jos, Nigeria.

Similar Private Companies By Industry

Company Name Region
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African Development Bank Middle East/Africa

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