Report on the establishment of the African development bank

Abstract

The Agreement Establishing the African Development Bank, which was adopted and opened for signature by a Conference of Finance Ministers, held in Khartoum on 4 August 1963, entered into force on 10 September, 1964. By that date twenty signatory governments had deposited their instruments of ratification and, by virtue of those deposits, the aggregate amount of initial subscriptions of governments whose instruments of ratification bad been deposited, had exceeded sixty-five per cent of the authorized capital stock of the African Development Bank, thus satisfying the conditions of Article 65 of the ADB Agreement.