Economics

THE AFRICAN DEVELOPMENT BANK (A.D.B) The African development Bank was established in August 4th, 1963 with its headquarters at Abidjan, Ivory Coast. It is made up of about 50 countries as members.

Helped In granting loans to many developing countries. E.g. Nigeria. Helped In economic planning of the developing countries through their technical and financial advice.

To promote adequate provision of long-term loans for reconstruction and development. To encourage and promote foreign private investments. To offer technical and financial advice to countries. Guaranteeing loans to foreign countries.

THE WORLD BANK – The World Bank was established in December 27th, 1945. It is generally known as International Bank for Reconstruction and Development (IBRD).

Helped to provide the African countries with vital information relating to socio-economic matters. Helped in planning programmes aimed at achieving economic development in most West African countries.

To collect data’s pertaining to socio-economic conditions of African countries. To supervise the UN’S development projects in Africa. To offer economic advice to government of African countries.