Missions & Objectives
History
The very first meeting of Directors of African National Development Banks was held in August 1969 in Freetown, Republic of Sierra Leone. The purpose of the meeting, convened by the African Development Bank (ADB), was to ascertain their views on ways and means of strengthening cooperation between their institutions and the Bank.
Further meetings were held in Abidjan in May 1970 and were attended by representatives of the Development Banks of 23 African countries and delegates from regional institutions, such as the East African Development Bank and the Union Africaine et Malgache des Banques de Développement. Representatives of various international banks and other financing institutions also attended the meeting, which discussed a wide range of issues pertaining to organization, management and resource mobilization of the national development banks.
The outcome of a meeting held in Abidjan from 4 to 7 March 1975 was the creation of the Association of African Development Finance Institutions (AADFI) under the auspices of the African Development Bank. The establishment of the Association met the need for a continent-wide coordination and economic solidarity. The inaugural assembly held in Abidjan set up a liaison committee to draw up and finalize the Association’s legal instruments. These were adopted by the Association’s First General Assembly, which was convened for that purpose in Dakar, Senegal, on 2 and 3 May.
Objectives
| – | To promote economic and social development in Africa throughout cooperation among banks and financial institutions |
| – | To stimulate cooperation for the financing of economic and social development |
| – | To establish among its members a machinery for systematic interchange of information |
| – | To accelerate the process of economic integration in the African region |
| – | To encourage studies realization bearing on common interests problems |
Activities
The main activities of the AADFI are the provision of Information and Training in the techniques of banking and finance as well as development policy advice to African bankers and finance officers.
