AfDB

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: 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 (RMC) and is headquartered in Abidjan, Côte d’Ivoire.

Mission & Strategy

The overarching objective of the African Development Bank (AfDB) Group is to spur sustainable economic development and social progress in its regional member countries (RMCs), thus contributing to poverty reduction.

The Bank Group achieves this objective by:

• mobilizing and allocating resources for investment in RMCs; and
• providing policy advice and technical assistance to support development efforts.

In 2015, all multilateral development institutions have agreed on a same set of objectives, called the Sustainable Development Goals.

Collaboration with Global Center on Adaptation

The Global Center on Adaptation‘s regional office for Africa – GCA Africa – is hosted by the African Development Bank at its headquarters in the Ivorian capital Abidjan. GCA Africa, which was launched in September 2020, will work with partners across the continent to scale and accelerate adaptation action that protects African communities from the impacts of climate change.

GCA Africa will focus on programs and action, knowledge acceleration and capacity building and agenda-setting that respond to the acute challenges from the changing climate facing African countries.

The GCA Africa programs include improving the food security of one billion people in Sub-Saharan Africa by 2030 through a program on rural well-being and food security, as well as projects to support communities through water for urban growth and resilience; using nature for more resilient infrastructure; adaptation finance and building youth leadership.