(a) Outline any three objectives of the African Development Bank. (b) State any two achievements of the African Development Bank.

Answer Details

(a) Three objectives of the African Development Bank (AfDB):

• To promote economic development of member countries by financing investment projects and programmes, individually and collectively.
• To mobilise and provide resources (loans and equity) for the development of agriculture, industry and infrastructure in Africa.
• To provide technical assistance for the preparation, financing and execution of development projects, and to promote regional economic co-operation and integration among African states.

(b) Two achievements of the African Development Bank:

• It has financed numerous development projects across member states, including roads, power, water, agriculture and industry, thereby improving infrastructure and productive capacity.
• It has provided loans, grants and technical assistance that have supported poverty-reduction and regional integration programmes and helped member countries attract further development finance.