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Law for Development Bulletin 2004
The African Development Bank is a multilateral development finance institution whose members are 53 African countries and 24 non-African countries from Asia, Europe, North America, and South America.
The purpose of the Bank is to further the economic development and social progress of African countries, individually and collectively. To this end, the Bank promotes the investment of public and private capital for development, primarily by providing loans and grants for projects and programs that contribute to the growth and development of African countries. Established in 1964, the ADB started operations in 1966 from its Headquarters in Abidjan, Republic of Côte d’Ivoire.