Everything You Need to Know About the African Development Bank
Everything You Need to Know About the African Development Bank
Hello Displorers, welcome to another informative video presented to you by Displore and thanks for watching. The name Africa Development Bank has been thrown around a lot when talking about loans and developmental projects around Africa but it will not come as a surprise that many are not familiar with the ins and outs of this very important African developmental supporter and organization. In this video, we shall look at everything you need to know about the African development bank.
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An Overview of the African Development Bank
The African Development Bank Group, AfDB or ADB or Banque Africaine de Développement, BAD is a multilateral development finance institution. The AfDB was founded in 1964 and comprises three entities which include The African Development Bank, the African Development Fund and the Nigeria Trust Fund. The AfDB's mission is to fight poverty and improve living conditions on the continent through promoting the investment of public and private capital in projects and programs that are likely to contribute to the economic and social development of the region. The AFDB is a financial provider to African governments and private companies investing in the regional member countries. While it was originally headquartered in Abidjan, Côte d'Ivoire, the bank's headquarters moved to Tunis, Tunisia, in 2003, due to the Ivorian civil war; before returning in September 2014.
History
Following the end of the colonial period in Africa, a growing desire for more unity within the continent led to the establishment of two draft charters, one for the establishment of the Organisation of African Unity which was established in 1963, later replaced by the African Union, and for a regional development bank.A draft accord was submitted to top African officials then to the Conference of Finance Ministers on the Establishment of an African Development Bank. This conference was convened by the United Nations Economic Commission for Africa, UNECA in Khartoum, Sudan, from 31 July to 4 August. It was here that the agreement establishing the African Development Bank was co-signed by twenty-three African governments on the 4th of August1963. The agreement came into force on the 10th of September 1964.
The inaugural meeting of the Board of Governors of the Bank was held from 4 to 7 November 1964 in Lagos, Nigeria. The Bank's headquarters opened in Abidjan, Côte d’Ivoire, in March 1965 and the Bank's operations commenced on 1 July 1966. From February 2003 onwards, the Bank operated from its Temporary Relocation Agency in Tunis, Tunisia, owing to the prevailing political conflict in Côte d’Ivoire at the time. The Bank was able to return to its original headquarters in Abidjan in late 2013 once the political crisis was over. By June 2015, over 1,500 staff had returned to the Bank's Abidjan headquarters out of the more than 1,900 total staff complement at the Bank.
Although, originally, only African countries were able to join the bank, since 1982 it has allowed the entry of non-African countries as well.Since its founding, AfDB has financed 2,885 operations, for a total of $47.5 billion. In 2003, it received a AAA rating from the major financial rating agencies and had a capital of $32.043 billion. In November 2019, the bank's capital was reported as $208 billion.
Group Entities of the Bank
The African Development Bank Group has two other entities: the African Development Fund and the Nigeria Trust Fund which function in diverse ways to serve the main objectives of the bank.
African Development Fund, ADF
Established in 1972, the African Development Fund started operations in 1974. The African Development Fundprovides development finance on concessional terms to low-income Regional Member Countries, RMCs which are unable to borrow on the non-concessional terms of the AfDB. In harmony with its lending strategy, poverty reduction is the main aim of ADF activities. Twenty-four non-African countries along with the AfDB constitute its current membership. The largest ADF shareholder is the United Kingdom, with approximately 14% of the total working shares followed by United States with approximately 6.5 percent of the total voting shares, followed by Japan with approximately 5.4 percent. The Federal Reserve Bank of New York was designated as the depositor bank for the fund according to telegraphs sent from the U.S. Embassy in Abidjan in 1976.The ADF's general operations are decided by a Board of Directors, six of which are appointed by the non-African member states and six designated by the AfDB from among the bank's regional Executive Directors.The ADF's sources are mainly contributions and periodic replacements by non-African member states. The fund is usually replenished every three years, unless member states decide otherwise.
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And infrastructure build, any thing counted as long as it’s properly taxed or toll collected. Pure love
THE BIRTH OF THE VILLAGE POLYTECHNIC IN KENYA REQUESTING OF FUNDING FROM THE AFRICAN DEVELOPMENT BANK TO BUILD THE FIRST NEW MODERN VILLAGE POLYTECHNIC. The dream of the village polytechnic which was supposed to grace all the villages of Africa, equipping all the villagers to be skilled and equipped for a life of self employment and equipping the students with the tools to move on with life there after, was the goal, the mission and vision of the idealists and dreamers of the African village polytechnic. In the 1970s in the breaking and the dawn of the days, guys of the National Council of Churches in Kenya ( NCCK) dared to dream big. Leaving no stone unturned. There was a critical crisis in that many standard seven students of that time were dropping out of school due to various reasons and not continuing education to form one education level, and many former students were going to the streets without skills. The question was then asked " After standard seven then what?" This million dollar question gave birth to the current village polytechnic as the answer to the mighty dollar question. The first village polytechnic rolled out of the assembly line to be planted at the rolling grounds of Tsunguni area in Jibana location, afterwards hard times cameth and the village polytechnic ceased on continuing thus closed her doors. In Kenya the village polytechnic was the brain child under the leadership of Mr Munga and Mr Joshua Mwavita. This was in the 1970s and the government of the late president Jomo Kenyatta who took Mr Joshua Mwavita to be the presiding officer of the Village polytechnics in Kenya. And all over Kenya were born the village polytechnic. From the flickering ragged coastal town to the rolling hills of the Kenyan highlands came the village polytechnic and flousished receiving funding from the government of the late Jomo Kenyatta. Those village polytechnic were involved in making the students to be skilled sufficiently enough to be able to carry themselves in life and many of the former students of the village polytechnic were able to carry on and the jua Kali sector have been their legacy. Training was in motor vehicle mechanic, wiring, tailoring, refraction, shoe repairs, electronics, masonry, soldering, electricals one went as far as farming but didn't get many students choosing farming unlike the rest of the other subjects etc. Many village polytechnic institutes were created all over the vast country of Kenya, but after the demise of the president Jomo Kenyatta, now cometh late president Arap Moi and the finances to the village polytechnic sadly came to an end. And many of the then village polythecnic closed there doors due to lack of funds, yet there are those resistant, the rebel type of village polytechnic that withstood the hard times and continued to this day: Kisauni village polytechnic and few others that were able to weather on the storm and have their doors to remain open to the current times. After the coming of the current president Uhuru Kenyatta there was a come back of the village polytechnic under National Industrial Training Authority (NITA) has also come to grace the stage. Now there is a need for a rebirth of the village polytechnic institute with a new touch and a class of modernity. This will include the very modernity; aviation, ship building, modern farming and food preservation, car manufacturing, aviation, doctorate, plastic recycling, modern house building, computer technology, space technology, science and robotics, machinery operations, phone building and repairs, design in clothes, bridge construction, computer technology and knowledgeability, road construction, train innovation, research and development of garbage recycling centers, research In many fields. etc These new village polytechnic will be a wonder and a phenomenal thing to ponder on. Guys will receive training like never before. They will be the source of modernity all over Africa. Research will be carried on the very deserts of the vast wasteland of Africa. The modern day village polytechnic will be a thing to ponder on and to reckon on. A thing of the future. The great and mighty modern day village polytechnic us the change needed and a must for Africa, and will be a thing of the future for Africa. The builder of Africa from the turbulent coastal waters of the eastern front of the coastal people to the crocodile friendly people of the west Africa village polytechnic will be, form the deserts cities of North Africa to the cascades of the southern hemisphere of the African continent will be these flourishing modern day village polytechnic. Research and Funding goes a long way: NAZI Germans used it just before second world war and stayed shed of the pack. Israel also uses research and Funding to turn the desert into modern farming. We Africans have to borrow a leaf and turn Africa into the world super class. Amen Now I am borrowing funding from the African Development Bank to facilitate on bringing to fruition the very first New Village Polytechnic in Kenya. Amen My number are 254728077531 254721729776 Email smwavita2017@gmail.com By Samuel Mwawato wa Mwavita
They should also help the Caribbean countries too. And work on flights to and from those Island countries. A direct flight to and from all of them.
@mlindamsowoya1717
3 жыл бұрын
That's what Dr. Arikana Chihombori the Ex- ambassodor of AU to New York City; the founder of Africa Diaspora Development Initiative (ADDI) keeps on saying.
@chrisoghenetegamaloney5799
3 жыл бұрын
@@mlindamsowoya1717 Nigeria reuniting the Caribbean
How do African farmers that are interested in going into mechanized farming, access grants or low income loan from AfDB?
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So as south africa big they can not create a trust fund to help other african countries, 😡..stingy south Africans
@afribusiness772
3 жыл бұрын
You must do your research before spreading false statements. They have the development Bank of Southern Africa
@kokasi7174
3 жыл бұрын
Go and read about the Development Bank of Southern Africa (DBSA) headquartered in Johannesburg South Africa...your lack of knowledge and hate is clouding your judgement🙄
@chrisoghenetegamaloney5799
3 жыл бұрын
@@kokasi7174 money put together by all the countries of the Southern Africa countries but in the case of Nigeria trust bank 💯 of that money is from Nigeria to help these neighboring countries that are in debts ...
مضيعة للوقت والجهد والمال افريقيا في فقر إلى أن يرث الله الأرض وما عليها