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Tanzania - 2012 - Country Profile

10-May-2019

The African Development Bank (AfDB) Group was established in 1964 to promote Africa’s economic and social development. The Group comprises the African Development Bank (AfDB), the African Development Fund (ADF), and the Nigeria Trust Fund (NTF). The Bank is funded by its 53 African (Regional) Member Countries (RMCs) and 23 Non-African (Non-Regional ((NRMs). It provides loans and grants to African governments and private investors in Africa. It has a public-interest mandate to reduce poverty and promote sustainable development. The Bank officially began operations in 1967 from its headquarters in Abidjan, Côte d’Ivoire. In 2003, the institution’s Board of Governors decided to relocate in Tunis, Tunisia, temporarily due to political instability and civil strife in Cote d’Ivoire.

The AfDB performs four principal functions: Provides loans and equity investments to the RMCs; Offers technical assistance for the preparation and execution of development projects and programs; Promotes investment of public and private capital for development purposes; Assists in coordinating development policies and plans of RMCs.

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