(a) Outline any three objectives of the African Development Bank. (b) State any two achievements...
(a) Outline any three objectives of the African Development Bank.
(b) State any two achievements of the African Development Bank.
Explanation
(a)Objectives of African Development Bank
(i) To finance projects aimed at promoting the socio-economic development of African Countries.
(ii) To aid mobilization of funds from within and outside the content.
(iii) To participate in selecting projects for member nations to ensure their orderly development.
(iv) To undertake activities and provide services aimed at improving the welfare of the African people
(v) To provide technical assistance to African nations in areas of project appraise, finance and execution.
(b)Achievements of the African Development Bank
(i) African Development Bank has granted loans to member nations since its inception. The loans are for the development of agriculture, water supply, rural infra-structure and industry.
(ii) It has helped to mobilize funds from within and out-side the continent.
(iii) It has involved itself in activities that help to improve the welfare of African people, provision of basic amenities and reduction of unemployment.
(iv) It has provided technical assistance to African nations in technical areas.