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African Development Bank (AfDB)
African Development Bank (AfDB)

The African Development Bank (AfDB) is a non-profit financial institution that works to assist the economic development and social process of African countries. The group is formed of both African and European, American and Asian countries. The AfDB was founded in 1964 and comprises three entities: the African Development Bank, the African Development Fund (ADF) and the Nigerian Trust Fund. The mission of the AfDB is to fight poverty and to improve living conditions on the African continent through the promotion of public and private capital investments in projects and programs that contribute to economic and social development. The AfDB is a provider for African governments and private companies that invest in the 78 member countries. The functions of the organisation include providing loans and capital, technical assistance in the public and private sectors, assisting countries in implementation and coordination of local policies and more.