{"id":21578,"date":"2024-03-16T06:58:53","date_gmt":"2024-03-16T01:28:53","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=21578"},"modified":"2025-10-10T12:47:38","modified_gmt":"2025-10-10T07:17:38","slug":"african-development-bank","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/african-development-bank\/","title":{"rendered":"African Development Bank (AfDB)"},"content":{"rendered":"<h2>About African Development Bank (AfDB)<\/h2>\n<ul>\n<li>It is a\u00a0regional multilateral development finance institution established to contribute to the economic development and social progress of African countries\u2013the institution&#8217;s regional member countries.\u00a0<\/li>\n<li>The bank is also\u00a0known as the Banque Africaine de D\u00e9veloppement.<\/li>\n<li>It was founded\u00a0following an agreement signed by member states in 1963 in Khartoum,\u00a0Sudan, which became effective in 1964.<\/li>\n<li>Mission: To help\u00a0reduce poverty,\u00a0improve living conditions\u00a0for Africans, and\u00a0mobilize resources for the continent\u2019s economic and social development.<\/li>\n<li>AfDB\u00a0seeks to\u00a0stimulate and mobilize\u00a0internal and external resources\u00a0to promote investments\u00a0as well as provide its regional member countries with technical and financial assistance.<\/li>\n<li>It is a\u00a0financial provider to African governments and private companies investing in the Bank\u2019s regional member countries.<\/li>\n<li>Headquarters: Abidjan, C\u00f4te d\u2019Ivoire<\/li>\n<li>The AfDB Bank Group\u00a0comprises three entities: the\u00a0African Development Bank, the\u00a0African Development Fund (ADF), and the\u00a0Nigeria Trust Fund (NTF).\n<ul>\n<li>While the\u00a0AfDB issues loans to African middle-income countries, the\u00a0ADF supports countries\u00a0that\u00a0do not have sufficient\u00a0resources to benefit from\u00a0regular AfDB financing. These countries are\u00a0offered interest-free loans\u00a0and grants to finance sustainable development.<\/li>\n<li>The\u00a0NTF was founded in 1976 with capital from Nigeria. It\u00a0provides cofinancing\u00a0for AfDB measures and financing for NTF-specific measures\u00a0in the public and private sectors in\u00a0low-income member countries.<\/li>\n<\/ul>\n<\/li>\n<li>Membership: It has\u00a081 member countries:\u00a054 from the African continent and the other\u00a027 from other regions around the world.<\/li>\n<li>Shareholding:\n<ul>\n<li>The shareholding of the Bank is\u00a060%-40% between regional member countries\u00a0and non-regional member countries respectively.<\/li>\n<li>Nigeria is the largest\u00a0shareholder of AfDB.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<hr \/>\n<h3>Q1) What is the Asian Development Bank (ADB)?<\/h3>\n<p><u>Asian Development Bank<\/u> is a multilateral development bank established on 19th December 1966. It assists members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development. It also provides financing to certain private sector projects as well as public-private partnerships. It encompasses 68 members\u2014of which 49 are from within Asia and the Pacific and 19 outside.<\/p>\n<p><strong>Source:<\/strong> <a href=\"https:\/\/apnews.com\/article\/african-development-bank-natural-resources-loans-china-66adc38e589c12589ed7831a8e56ca5e\" target=\"_blank\" rel=\"nofollow noopener\"><u>African Development Bank chief criticizes opaque loans tied to Africa\u2019s natural resources<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>African Development Bank is a regional multilateral development finance institution.<\/p>\n","protected":false},"author":5,"featured_media":21579,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-21578","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/21578","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=21578"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/21578\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/21579"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=21578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=21578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=21578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}