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The African Development Bank Group is an international organisation and a regional multilateral development finance institution established in 1964 and supported by 77 nations (member countries) from Africa, North and South America, Europe and Asia and engaged in mobilising resources towards the economic and social progress of its Regional Member Countries (RMCs).
The Bank's principal functions are: (i) to make loans and equity investments for the economic and social advancement of the RMCs; (ii) to provide technical assistance for the preparation and execution of development projects and programs; (iii) to promote investment of public and private capital for development purposes; and (iv) to respond to requests for assistance in coordinating development policies and plans of RMCs. In its operations, the Bank is also required to give special attention to national and multinational projects and programs which promote regional integration.
The Bank's operations cover the major sectors, with particular emphasis on agriculture, public utilities, transport, industry, the social sectors of health and education, and concerns cutting across sectors, such as poverty reduction, environmental management, gender mainstreaming, and population activities. Most Bank financing is designed to support specific projects. However, the Bank also provides program, sector, and policy-based loans to enhance national economic management. The Bank also finances non publicly guaranteed private sector operations. The Bank actively pursues co-financing activities with bilateral and multilateral institutions.