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As the continent’s premier development finance institution, the African Development Bank (AfDB) Group borrows from capital markets for on-lending to its regional member countries.
In order to effectively play this role, the AfDB uses a variety of instruments and produces reports in the process. The institution’s development assistance has been channeled through various instruments. The conventional instruments used by the Bank Group up until the early 1980s, were mainly project loans, including lines of credit, and technical assistance. Following structural reforms in the mid-1980s, the need for structural reforms called for the introduction of different mechanisms to ensure faster-disbursing and policy-based loans. This led to the introduction of Structural Adjustment Programs at the macro-economic level, and Sectoral Adjustment Programmes at the sectoral level via the instruments of Structural Adjustment Loans (SALs) and Sectoral Adjustment Loans (SECALs).
Over the years, Bretton Woods Institutions (BWIs) have played leading role in the design and formulation of these programmes. However, the Bank Group has, however, gradually become an active partner in the process, in a complementary context. In order to strengthen its future participation in policy-based lending (PBL) operations, the Bank is playing a more active role in background studies and policy dialogue to ensure it adds value to the content and design of policy framework papers.
For more on each instrument or report, click on links below.