African Development Fund (ADF)
Fonds africain de développement (FAD)
Fondo Africano de Desarrollo
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1972-11-29 Abidjan Côte d'Ivoire
29 Nov 1972, Abidjan (Côte d'Ivoire), on signature of an agreement during a Conference of Plenipotentiaries of F-XF0018 - African Development Bank (ADB), with which organization, together with G-XG0205 - Nigeria Trust Fund (NTF), it comprises F-XF0121 - African Development Bank Group (ADB Group). Agreement entered into force 10 Jun 1973. Formally inaugurated at 9th Annual Meeting of ADB, Jul 1973, Lusaka (Zambia). Commenced operations 1 Aug 1973, and first loan granted 16 Jan 1974. Also referred to by English and French initials AfDF --FAfD. Statutes registered in 'UNTS/1 19019'.
Reduce poverty and promote economic and social development in regional Member Countries, particularly in the 38 least-developed African countries, by providing concessional funding for projects and programmes, as well as technical assistance for studies and capacity-building activities.
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Board of Governors comprises the Governors and Alternate Governors of the Bank, who are 'ex-officio' Governors and Alternate Governors of the Fund. Board of Directors comprises 12 Directors, of whom 6 are designated by the Bank from among its regional Executive Directors and 6 appointed by state participants. President of the Bank is 'ex-officio' President of the Fund and Chairman of its Board of Directors. ADB and ADF each have 1,000 votes in the ADB Group.
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** UN SDGs are linked to the subject classification.
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