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May 04, 2015 12:34 AM 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, including for trade finance; agency lines; guarantees, such as partial cre...

01 Boite Postale

Abidjan 01

Cote d’ivoire

7è étage, immeuble crrae umoa plateau

Abidjan,  1387

Ivory Coast

Founded in 1964


225 20 20 4822


225 20 21 3100

Key Executives for African Development Bank

Chairman, President and Chairman of the Whole Committee
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 2014.

African Development Bank Key Developments

AfDB, FNB Sign Line of Credit Agreement Worth USD 44 Million

African Development Bank (AfDB) and First National Bank (FNB) have inked a USD 44 million line of credit agreement, to fund several southern African nation projects. The funds will contribute to its continued financing of projects that are important to Zambia's economic agenda by supporting the expansion of credit to small and medium enterprises. The contract is kept aside for the growth in Zambia's sectors like trade, agriculture, manufacturing, construction and others as there are investment opportunities in these areas.

Nigerian Export-Import Bank Signs Agreement for $302,000 Financial Grant Under Nigerian Technical Cooperation Fund Managed by African Development Bank

The efforts of the Nigerian Export-Import Bank (NEXIM Bank) to facilitate the establishment of a regional maritime company, The Sealink Project, has received a fresh boost with the signing of a financial grant with the African Development Bank (AfDB) for $302,000 under the aegis of the Nigerian Technical Cooperation Fund (NTCF). The objective of the Sealink Project is to promote intra and inter- African trade, thereby fostering regional integration, economic growth and development in the West and Central African sub-regions. This is in line with the Government's transformational policy on trade and transport as articulated in the Regional Trade component of the New Trade Policy. The $302,000 grant would be used to conduct further feasibility studies on the project to extend it to the Economic Community of Central African States (ECCAS), as well as enhance the Sealink promotional activities and assist in the development of human capital and corporate governance structure of the Sealink Promotional Company Limited (SPV) which was incorporated to facilitate the project implementation. The SPV is being promoted by the Federation of West African Chambers of Commerce and Industry (FEWACCI), Nigerian Export - Import Bank (NEXIM) and Transimex, S. A, Cameroun.

The African Development Bank and Bloomberg Launch African Bond Index

Following the announcement of the collaboration between Bloomberg and the African Development Bank (ADB) in December, Bloomberg and the ADB through the African Financial Markets Initiative (AFMI) have launched the AFMISM Bloomberg African Bond Index (ABABI), a new family of African bond indices. Calculated by Bloomberg Indexes, this composite index is comprised of the Bloomberg South Africa, Egypt, Nigeria and Kenya local currency sovereign indices. The current index includes an African sovereign bond index comprised of the four most liquid bonds in Africa and three sub-indexes for different maturity ranges. To be included in the index, a security must have at least one year remaining to maturity and withstand price stability tests. In partnership with Bloomberg, the AFMI will be reviewing the addition of new countries on a biannual basis, i.e. June and December. More markets are expected to be added to the index in 2015.

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