The African Development Bank Group being a regional multilateral development finance institution works with the motive to spur sustainable economic development and social progress in its regional member countries (RMCs), thus contributing to poverty reduction.
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.
A development bank’s mission is to promote the investment of public and private capital in projects and programmes that are likely to contribute to the economic development of its stakeholders. The bank therefore finances projects run either by the government or the private sector. The AfDB is one of the five major multilateral development banks in the world that provides assistance to its regional member countries with a view to helping them achieve their development goals.
Millennium Development Goals
- Eradicate extreme poverty and hunger
- Improve maternal health
- Achieve universal primary education
- Combat HIV/AIDS, malaria and other diseases
- Promote gender equality and empower women
- Ensure environmental sustainability
- Reduce child mortality
- Develop a global partnership for development
The African Development Bank Group finances projects, programs and studies in the areas of agriculture, health, education, public utilities, transport and telecommunications, the industry and the private sector. The Bank Group has, since 1968, also sought to finance non-project operations, including structural adjustment loans, policy-based reforms and various forms of technical assistance and policy advice.
The African Development Fund (ADF)
The African Development Fund (ADF) is the concessional window of the African Development Bank (AfDB) Group that contributes to the promotion of economic and social development in 40 least developed African countries by providing concessional funding for projects and programs, as well as technical assistance for studies and capacity-building activities.
Eligible Countries for ADF: Djibouti, Cameroon, Cape Verde, Benin, Mali, Ghana, Kenya, Congo, Burkina Faso, Mauritania, Lesotho, Zambia, Nigeria, Burundi, Mozambique, São Tomé & Principle, Central African Rep., Niger, Chad, Rwanda, Comoros, Senegal, Congo DRC, Sierra Leone , Côte d’Ivoire, Somalia, Eritrea, South Sudan, Ethiopia, Sudan, Gambia, Tanzania, Guinea, Togo, Guinea-Bissau, Uganda, Liberia, Zimbabwe, Madagascar, Malawi