Consultation: African Development Bank Group (AfDB) membership
Proposal for Australia to join the African Development Bank Group
The Government is putting forward a proposal for Australia to join the African Development Bank Group (AFDB) to strengthen our existing support to overcome poverty in Africa.
The AfDB Group is a multilateral development bank that promotes sustainable economic growth and fights poverty in its regional member countries by providing concessional loan, grants and technical assistance for development purposes. Founded in 1964, the Bank consists of three separate but connected institutions:
- the African Development Bank (AfDB);
- the African Development Fund (AfDF); and
- the Nigeria Trust Fund (NTF).
The AfDB has an ambitious agenda, broadly seeking to become the preferred development partner for Africa, whilst simultaneously providing quality investment opportunities and advice to members and partners. The AfDB currently has 77 shareholders (comprising 53 regional members and 24 non-regional members).
The AfDB is currently located in Tunis, but remains committed to returning to its permanent headquarters in Abidjan, Cote d’Ivoire. The AFDB relocated to Tunisia in 2003 as a result of instability in Cote d’Ivoire.
The Process to Join AfDB
A full treaty process will need to be undertaken. This includes the Joint Standing Committee on Treaties making an assessment of the impact of the treaty on Australia’s national interest.
Existing members of the AfDB will need to agree to accept Australia as a member.
Commenting on this proposal
We invite comments on the proposal for Australia to join the AfDB. In preparing your submission, please consider:
- Should Australia become a member of the African Development Bank and African Development Fund?
- Will joining the African Development Bank and African Development Fund help address poverty and development challenges in Africa?
- Is becoming a member of the African Development Bank and the African Development Fund in Australia’s national interest?
Your response will be part of a National Interest Analysis submission prepared by the Treasury and the Department of Foreign Affairs and Trade and submitted to the Joint Standing Committee on Treaties for their assessment. Contributors of submissions can elect to remain confidential.
A consultation paper has been prepared and considers:
- the relative effectiveness of the African Development Bank (AfDB) and the African Development Fund (AfDF);
- the suitability of AfDB and AfDF as primary development partners for Australia in Africa; and
- the extent to which membership of AfDB and AfDF would advance Australia’s national interests.
Written submissions should be emailed to firstname.lastname@example.org. Submissions should be of no more than 6 pages in length.
The closing date for submissions is 14 August 2012.
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Last reviewed: 1 November, 2013