A draft agreement was presented to senior African officials at the finance ministers` conference on the creation of an African Development Bank. The conference was convened in Khartoum, Sudan, from 31 July to 4 August by the United Nations Economic Commission for Africa (UNECA). Here, the agreement creating the African Development Bank (AfDB) was co-signed by 23 African governments on 4 August 1963. [9] The agreement came into force on September 10, 1964. [10] In June 2020, the AfDB Board of Directors approved a review of Adesina`s management of the bank. Adesina will be re-elected in August 2020. [17] Adesina was unanimously re-elected on 27 August 2020 for a second five-year term[18] Members` governments are officially represented at the AfDB by their Minister of Finance, Planning or Cooperation, who sits on the AfDB Council. AfDB governors meet once a year (at AfDB meetings in May) to make important decisions on the institution`s leadership, policy directions and governing bodies. Governors usually appoint a representative of their country who works in the offices of the AfDB board of directors. Since its inception, the AfDB has financed 2,885 operations for a total of $47.5 billion. In 2003, it received an AAA rating from major rating agencies and had a capital of $32.043 billion. In November 2019, the bank`s capital was recorded at $208 billion.

[12] In 1978, the United Nations established development enterprises with the support of the World Bank and many other major development banks around the world. Today, Development Business is the most important publication for all major multilateral development banks, including the African Development Bank, United Nations agencies and several national governments, many of which have mandated the publication of their offers and contracts in the field of development business. [34] To date, the Bank`s contribution to the fight against HIV/AIDS is estimated at more than 500 million U.S. The Bank is one of the initiating partners of AIDS in Africa – Scenarios for the Future, a project whose results will enable governments and development partners to make strategic decisions on current and future development trajectories and define their activities accordingly to address the challenges of HIV/AIDS.

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