Founded in 1964, the African Development Bank was born from the bold vision of the continent's founding fathers: to create an institution capable of financing Africa's development with a strong pan-African ambition.
Celebrating its 60th anniversary last year, the Bank embodies the transformation of the continent. From its beginnings with 23 member countries and a small operational team, it has grown to become Africa's leading development finance institution, with 81 shareholder countries and more than 2000 staff. The Bank's capital has grown exponentially from $250 million at its inception to $318 billion, consolidating its status as an AAA-rated financial institution, with a mission to guarantee optimal access to finance for African countries.
A benchmark partnership with Morocco
Morocco was one of the first African countries to benefit from the Bank's support, with initial financing granted in 1978 for a drinking water and sanitation project. Since then, the partnership between Morocco and the Bank has been significantly strengthened, with more than 150 projects financed for a total of nearly €15 billion.
"Our relationship with Morocco is a multi-dimensional relationship of excellence, promoting sustainable development in various sectors, from transport to education," Achraf Tarsim, the Bank's Country Manager for Morocco, emphasises.
In recent years this support has been reflected in major projects that include the Noor Ouarzazate solar complex, one of the largest in the world, and the Nador West Med port, a strategic hub for regional maritime trade. The Bank has also played a key role in modernising transport and energy infrastructure, helping to strengthen Morocco's competitiveness on the African and international stage. In addition to its support for Moroccan infrastructure, the Bank is actively engaged in the social sectors, supporting the country's reforms in the spheres of education, health and social security.
Replenishment of the African Development Fund in Tangiers in 2022 marked a historic milestone, bringing a record amount of $10 billion. Huge resources have also been mobilised through the Africa Investment Forum (AIF). In 2024, the AIF attracted billions in investment interest at its boardroom meetings in Rabat, which will facilitate the financing of structuring projects across the continent.
Concrete results and international recognition
As it celebrates its 60th birthday, the Bank can look back on millions of lives transformed. From its first financing operations in the 1970s to today's megaprojects, more than 6500 projects have been implemented across Africa. Projects financed by the Bank Group and its partners between 2015 and 2025 have impacted the lives of millions of Africans in areas as diverse as infrastructure, education, agriculture, access to energy, drinking water and sanitation.
The Bank's excellence is regularly acknowledged on the international stage. In 2022, Global Finance called it the world's best multilateral development bank. It was also ranked the most transparent financial institution by Publish What You Fund, a respected financial governance organisation.
A triple-A rating that serves the entire continent
Africa faces major challenges, from climate change to geopolitical instability and access to international finance. The Bank will play a leading role in helping the continent to meet these challenges, particularly through innovative financial mechanisms and targeted investments that strengthen the continent's economic and environmental resilience. The Bank spearheaded the campaign to reallocate Special Drawing Rights (SDRs) from the International Monetary Fund to regional development banks.
