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Fostering Regional Integration in Africa - An Evaluation of the Bank’s Multinational Operations, 2000-2010 - Approach Paper
The Bank‟s interest in financing multinational operations is rooted in its mandate to foster regional integration. Article 2 of the Agreement Establishing the African Development Bank states that in order to contribute to the sustainable economic development and social progress of its regional members, the Bank should finance investment projects and programmes, giving special priority to: a) projects or programmes which by their nature or scope concern several members; and b) projects or programmes designed to make the economies of its members increasingly complementary and to bring about an orderly expansion of their foreign trade. The agreement recommends paying special attention to the selection of suitable multinational projects. These objectives were endorsed by the African Development Fund and the Nigeria Trust Fund when they were created in 1973 and 1976, respectively. They are also among the main priorities of recent Bank policies and strategies (section V).