Agreement establishing the African Development Bank: preparatory work, including summary records of the Conference of Finance of Ministers

Abstract

A Report on the Possibility of Establishing an African Development Bank. Having examined the financial resources available for development purposes in Africa, the panel of experts considered the possible functions of and justification for a new financial institution in Africa and reviewed its characteristics. The panel concluded its report by stating it wished to advise the Executive Secretary that it was aware of the difficulties in the way of creating an African Development Bank but that every effort should be made to remove these and proceed with the establishment of the Bank. The panel also commented that the contribution of funds and the many problems related to the organization and operation of such a Bank would require detailed examination. Part I of the present document contains the summary records of the Preparatory Meeting to the Conference of Finance Ministers. Part II contains the summary records of the Conference of Finance Ministers. Part III deals with the Agreement Establishing the African Development Bank.