Team Blitz India
THE African Development Bank Group (AfDB), with its headquarters in Abidjan, Ivory Coast, since September 2014, stands as a cornerstone in the landscape of development initiatives across emerging markets in the African continent. Its pivotal role involves providing crucial financial support to both African governments and private enterprises engaged in investments within the regional member countries (RMC).
AfDB was established in the year 1964 by the Organisation of African Unity, which later evolved into the African Union. The multilateral finance organisation came into existence during a period of post-colonial aspirations for enhanced unity within the African continent.
Functioning as a fulcrum in steering economic development across the African continent, the AfDB operates through three distinct entities: The African Development Bank, the African Development Fund, and the Nigeria Trust Fund.
Interestingly, the African Development Bank’s 4th annual conference held outside Africa unfolded in India (Gandhinagar, Gujarat) on May 22–26, 2017. This event, inaugurated by Prime Minister Narendra Modi, signified a notable international outreach for AfDB, with preceding conferences hosted in Spain, China, and Portugal.
