Society, economy & sport

Founding of African Development Bank

4 August 1963

The African Development Bank is a multilateral development finance institution that supports economic and social development in African countries by providing loans, grants and technical assistance. It was created when representatives of newly independent African states agreed the founding agreement in Khartoum, and it began operating in the mid-1960s. Its membership was later opened to non-African countries, and it is funded by contributions from both African and non-African members. The bank, whose headquarters were long in Abidjan, in Ivory Coast, was temporarily relocated to Tunis during the Ivorian political crisis, and it has since returned.

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This moment belongs to the Contemporary world (1945 CE to today), the world since 1945. You can also browse everything in the 20th century.