 AFRICAN DEVELOPMENT BANK (AfDB)
The African Development Bank (AfDB) Group which comprises of the African Development Bank, the African Development Fund and the Nigeria Trust Fund.
As Africa’s premier development financial institution, it membership consist of 53 African and 24 non-African Member States, the overarching objective of the African Development Bank (AfDB) Group is to spur sustainable economic development and social progress in its regional member countries (RMCs), thus contributing to poverty reduction. The Bank Group has achieved this objective by mobilizing and allocating resources for investment in RMCs, and providing policy advice and technical assistance to support development efforts.
The medium-term strategic objective of the AfDB is to transform Africa through; Infrastructural Development; Regional Economic Integration; Private Sector Development; Improving Governance and Accountability and Developing Skills and Technology across Africa.
The AfDB started operating in Sierra Leone in 1969 five years after the AfDB Bank group was established in 1964. However, the Bank was operating a field office until 2006 when the field office was upgraded into a Country Office. The AfDB’s support to Sierra Leone is derived from the Bank’s Medium-term Country Assistance Strategies (CAS) which are directly aligned to the successive Poverty Reduction Strategies and currently the Medium-Term National Development Plan. The AfDB is a member of the Multi-Donor Budget Support group that provides direct budget support in additional to project/programme support and Technical Assistance.
In 2022, the AfDB provided an estimated $18.26 million to fund various projects in Sierra Leone.
For further information on African Development Bank activities in Sierra Leone please visit www.afdb.org/en/countries/west-africa/sierra-leone
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