African Development Bank Group

The African Development Bank (AfDB) Group is a multilateral development finance institution whose objective is to mobilize resources to finance economic development and social projects, and programmes in its regional member countries (RMCs). The AfDB comprises three distinct entities under one management: the African Development Bank (AfDB), parent institution established in 1964, and two concessional resource affiliates, the African Development Fund (ADF) established in 1972 and the Nigerian Trust Fund (NTF) established in 1976. AfDB's tangible achievements over the years have generated confidence in the institution as demonstrated by the reconfirmation of its triple (AAA) ratings by major global rating agencies. In December 2007, the ADF achieved a record replenishment of US$ 8.9 billion for the institution's low-income member countries. The bank is now positioning itself as the continent's leading development finance institution thanks to its adoption of a 2008-2012 mid-term development strategy (MDS) geared mainly towards core areas such as infrastructure and private sector development, higher education, regional integration and governance.