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Austria joined the African Development Fund (ADF) in 1981 and the African Development Bank (the Bank) in 1983. The Bank mainly collaborates with the Ministry of Finance, the Austrian Development Agency, and the Development Bank of Austria.
In June 2008, a Letter of Agreement was signed between the Bank and the Development Bank of Austria to promote co-financing for private sector operations in developing countries.
At the end of 2010, Austria joined the multi-donor Fund for African Private Sector Assistance initiated by Japan in 2005, to which Austrian Ministry of Finance and the Development Bank of Austria contributed 2 million euros.
Austria supports the African Water Facility hosted by the Bank, and seconds a water expert to it. The African Water Facility is an initiative led by the African Minister’s Council on Water to mobilize and apply resources to finance water development activities in Africa.