African Development Bank (ADB)

HISTORY AND PRESENT STATUS

The African Development Bank was established in 1964 under the auspices of the Economic Commission for Africa and began operation in 1966. The main office is in Cote d'Ivoire. The Bank obtains its funds from cash subscriptions from regional and non-regional members. In order to retain the Bank's African character, regional members subscribe two-thirds of the total capital stock.

OTHER DEPARTMENTS AND COOPERATING ORGANISATIONS

Department of Finance
Development Bank of Southern Africa

GENERAL COMMENTS

South Africa became a member of the ADB in 1995, and presently holds 1% of the Bank's shareholding. At the moment there are negotiations to increase shareholding to 5% in order to have a more substantial input into policy decisions.

Membership to the ADB allows South Africa financial support according to a Country Strategy Paper (CSP).This outlines areas which the bank can consider financing within the country.

In the case of South Africa, the bank is examining the development of the country's infrastructure such as roads, railways, harbours, airports and electrification for households and industry.

The Development Bank of Southern Africa (DBSA) has a line of Credit from this Bank and hence it is able to finance regional development.