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Algeria - 2009 - Country Profile

12-Jan-2009

On 4 August 1963 during a conference attended by 23 African Governments, including the People’s Democratic Republic of Algeria, the Agreement establishing the African Development Bank (ADB) was signed in Khartoum (Sudan). Eight other countries ratified it in December the same year. On 10 September 1964, the Agreement entered into force when twenty other members subscribed to 65% of the capital, which was then US$ 250 million. The inaugural meeting of the Boards of Governors took place from 4 to 7 November in Lagos (Nigeria).

The Bank’s operations started on 1 July 1966 in Abidjan (Côte d’Ivoire). The African Development Bank Group comprises the African Development Bank (ADB) and two concessional windows, namely the African Development Fund (ADF), established in 1972, and the Nigeria Trust Fund (NTF) in 1976.

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