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AfDB Group Annual Report 2011

29-May-2012

In accordance with Article 32 of the Agreement Establishing the African Development Bank and Articles 8, 11 and 12 of the General Regulations made thereunder, and pursuant to Article 26 of the Agreement Establishing the African Development Fund and Articles 8, 11 and 12 of the General Regulations made thereunder, I have the honor, on behalf of the Boards of Directors of the Bank and of the Fund, to submit the audited financial statements of the two institutions for the financial year ended December 31, 2011.

This joint report includes the administrative budgets for the period commencing January 1, 2012 and ending December 31, 2012, as approved by the Boards of Directors, as well as a review of developments in the African economy and in the operational activities of the Bank Group during 2011.

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