ABSTRACT
Established in 1964, the Bank began operations in July 1966, with the aim of financing economic and social development in African countries. The Bank and two other institutions, the African Development Fund and the Nigeria Trust Fund, constitute the African Development Bank Group. The President—who is elected for a five-year term and serves as the Chairperson of the Board of Directors—is responsible for the organization and the day-to-day operations of the Bank, under the guidance of the Board of Directors. The Bank has the following divisions: Power, Energy, Climate, and Green Growth; Agriculture, Human and Social Development; Private Sector, Infrastructure and Industrialization; Regional Development, Integration and Business Delivery; Economic Governance and Knowledge Management; Finance; and Human Resources and Corporate Services. The Development and Business Delivery Model that was endorsed by the Board in April 2016 aimed to transform the Bank's internal organization in alignment with its 2013-22 Strategy and High 5 priorities.
