The African Development Bank
The African Development Bank (AfDB) supports efforts to reduce poverty and improve the continent’s economic and social development.
Role and activities of the AfDB
The AfDB aims to promote sustainable economic development and social progress in African member states and thus contribute to poverty reduction. To achieve this, it has defined five priorities:
- light up and power Africa;
- feed Africa;
- integrate Africa;
- industrialise Africa and
- improve quality of life for the people of Africa.
Climate change, gender equality, fragility, economic governance and the cooperation with the private sector are taken in account in all projects.
By means of the African Development Fund (AfDF), the AfDB also finances loans on preferential terms as well as grants for the poorest member countries. The fund is replenished every three years by over thirty donor countries, including Switzerland. The strategic and operational focus is also determined each time.
Switzerland and the AfDB
Member of the AfDB since 1982 and supporting the AfDF since its foundation in 1971, Switzerland shares a constituency with Germany, Portugal and Luxembourg. It participates actively in the Board of Directors’ deliberations and decision-making.
As a member of the AfDB, Switzerland is committed to the following priorities:
- Strengthening the bank's strategic focus and operational capacities;
- Results-oriented, effective and targeted financing of development projects according to the AfDB's expertise and priorities;
- Deepening systematic cooperation with other development partners, in particular with multilateral development banks;
- Ensuring compliance with international environmental, social and governance standards;
- Supporting countries in their transition away from fossil fuels and
- Ensuring adequate capitalisation and maintaining the AAA credit rating.
