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Article: Stoking the engines of growth. (African Development Bank)
- Article from:
- African Business
- Article date:
- October 1, 1994
- Author:
CopyrightCOPYRIGHT 1994 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The African Development Bank, the continent's largest financial institution has performed remarkably well over the past 30 years. But, can it adapt to the new economic era dawning over Africa?
When the African Development Bank was first created 30 years ago, with the aim of "furthering the socioeconomic development of Africa" its entry into the league of development banking institutions was greeted with a considerable degree of derision. Several pundits dismissed it as another African fantasy and gave it, at best, two years before it folded.
The Bank not only survived, it thrived. Today, the ADB Group has an authorised capital of over $35bn. Fifty-two African ...