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AfDB is the financial development institution of Africa, reducing poverty and improving lives with the economic and social progress of its regional member Countries.
The main objective of AfDB is to contribute to the economic development and social progress of its regional members - individually and jointly by attempting to break the vicious cycle of poverty.
AfDB has been widely engaged in water projects in Africa and is organising high level meetings, such as the Meeting on Promoting Water Resources Development in African in September 2002 in Abidjan, Cote d'Ivoire.
In 2003, the AfDB experienced a reduction in its overall operations, but still saw a 3.5% growth in private sector lending operations which finished the year with 28% of all loans and grants the latest years in what is a firm trend of continuous year-on-year growth in the magnitude of private sector operations.
The AfDB directly invests in private sector firms by purchasing equity (stocks and debentures) in privately-owned companies, with an emphasis on companies in the financial sector, and on public sector companies that are in the process of being privatized.
The AfDB co-finances projects with the sub-regional development banks, and the sub-regional development banks are all dependent on the AfDB for a least a portion of their operating funds, provided through loans and equity participation.
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