The lending operations of the Bank Group for projects and programs are conducted through three windows: The African Development Bank (the “Bank”), the African Development Fund (the “Fund”) and the Nigeria Trust Fund (NTF). In 2015, total approvals of Bank Group operations amounted to UA 6.33 billion as at end-December 2015, a 25.4 percent increase over the 2014 approvals.
Bank Group operations at end-December 2015 recorded an increase of 25.4 percent over the operations at year-end 2014. This is significant, compared with the 15.1 percent increase in Bank Group operations at end-2014 and 3.1 percent increase at end-2013 over the previous years’ operations. As in the previous years, and in line with the Ten-Year Strategy (TYS), approved by the Boards in April 2013, infrastructure operations, mainly in energy and transport, received the bulk of Bank Group’s resources.
In 2015, Bank Group operations were aligned with the TYS, which emphasizes infrastructure investments in key sectors such as transport, energy, water and sanitation, and communications, for the transformation of Africa’s economies.
Of total Bank Group loan and grant approvals (UA 5.24 billion), more than half (54.2 percent) or UA 2.84 billion was allocated to infrastructure projects, with transport (30.3 percent) and energy (16.1 percent) accounting for the largest share. This was followed by water and sanitation (6.2 percent), with the smallest share going to communications (1.6 percent).
The relatively large allocation to infrastructure demonstrates the importance the Bank Group attaches to addressing Africa’s infrastructure gap and its commitment to promote inclusive and sustainable growth and development.