AfDB and Other MDBs: Initiatives
The African Development Bank Group participates in global initiatives in the fight against corruption, fraud and other harmful practices.
The Agreement for Mutual Enforcement of Debarment Decisions marks an innovative coordinated effort against fraud, corruption and other misconduct in development projects. The Agreement, signed on 9th April 2010, allows leading multilateral development banks to mutually enforce each other’s debarment decisions for four sanctionable practices.
Consequently, where any of the participating institutions finds that an individual or entity has conducted corrupt, fraudulent, coercive or collusive practices, the other institutions can also refuse to do business with such party. The participating institutions are the African Development Bank Group, Asian Development Bank, European Bank for Reconstruction and Development, Inter-American Development Bank and the World Bank Group.
Uniform Framework for Preventing and Combating Fraud and Corruption
The African Development Bank Group is a member of the Joint International Financial Institutions Anti-Corruption Task Force. Along with the Asian Development Bank, European Bank for Reconstruction and Development, European Investment Bank Group, International Monetary Fund, Inter-American Development Bank Group and World Bank Group, the AfDB signed the Uniform Framework for Preventing and Combating Fraud and Corruption in September 2006. The Uniform Framework laid the foundation for a consistent and harmonized approach to fight corruption in the activities and operations of the leading international financial institutions. The AfDB has also adopted the International Financial Institutions Principles and Guidelines for Investigations.
- General Principles and Guidelines for Sanctions
- MDB Harmonized Principles on Treatment of Corporate Groups
- 19/10/2018 - Appointments in the office of the President, the African Development Bank
- 19/10/2018 - Senior Management Appointments at The African Development Bank
- 18/10/2018 - Board approves €7 million investment in Partech Africa Fund
- 18/10/2018 - African Development Bank approves US$50mn facility to support SMEs and Women Owned Enterprises in Nigeria
- 18/10/2018 - African Financial Markets Initiative in partnership with Central Bank of Zambia will organise a workshop on Local Currency Bond Markets and Financial Sector Development
- 17/10/2018 - Young Africans fired up by African Development Bank agribusiness mentoring partnership with Purdue University