The African Development Bank Group is the continent’s foremost multilateral development finance institution. It was established in 1964 to fight poverty and promote sustainable economic growth and social progress in Africa. By the end of 2022, it had cumulatively approved 6,859 investments worth approximately USD 186.87 billion. In 2022, the Bank approved 284 operations worth USD 8.19 billion and disbursed USD 4.68 billion.
The Bank Group has three components: the African Development Bank, set up in 1964; the African Development Fund (set up in 1972); and the Nigeria Trust Fund (set up in 1976). Though legally and financially separate, the three entities share a common goal.