African development bank was founded in September 10 1964 and comprises of three entities:
African development bank, African development fund and the Nigeria trust fund.
The African development bank mission is to fight poverty and improve living conditions on the continent through promoting investment of public and private capital projects and programs that are likely to contribute to the economic and social development of the region.
The African development bank has it's headquarters located in Abidjan. With motto display: building today a better African tomorrow.
The African development bank has a membership of 81 countries & has a staff of 1,500 as of 31st DEC 2016.
Note: the current President of AFDP is Mr Akinwumi Adesina
FUNCTION OF AFDP
1) It promotes investment of public and private capital for development
2) it provides technical assistance for development project
3) they provides loans and equity investment for socio- economic advancement of the RMC