Multilateral Development Banks
African Development Bank
The Australian Government announced its intention to pursue membership of the African Development Bank in the 2012-13 Budget. Australia has increased, over recent years, development assistance to Africa and is committed to broadening and deepening its engagement in African countries and institutions as a long-term development partner. Pursuing membership with the African Development Bank indicates the importance the Australian Government places on supporting the multilateral system to achieve Australia’s development objectives.
The African Development Bank is a regional multilateral development bank that contributes to the economic and social development of its regional member countries through the provision of concessional funding for development projects, technical assistance and capacity building activities. The African Development Bank Group promotes sustainable economic growth to reduce poverty in the African region.
The African Development Bank (PDF 853kb) was assessed as part of the Australian Multilateral Assessment (PDF 3.79mb), and was found to be 'an effective organisation providing strong tangible results on the ground'. The Multilateral Performance Scorecard for the African Development Bank reiterates the findings of the Australian Multilateral Assessment.
As part of the membership process, public consultations were conducted on the intention to pursue membership of the African Development Bank. The consultation period closed in August 2012.
The following documents describe this partnership in more detail.
Last reviewed: 1 November, 2013