The East African Development Bank (EADB) is a

development finance institution A development financial institution (DFI), also known as a development bank or development finance company (DFC), is a financial institution that provides risk capital for economic development projects on a non-commercial basis. , total commitme ...

with the objective of promoting development in the member countries of the

East African Community The East African Community (EAC) is an intergovernmental organisation composed of seven countries in the Great Lakes region of East Africa: the Democratic Republic of the Congo, the United Republic of Tanzania, the Republics of Kenya, Burun ...

Overview

EADB plays a threefold role of lender, adviser, and development partner. The bank provides a range of products and services that are tailored for the region's development requirements. The bank has experience, financial backing, staff, and a knowledge of the region's financial requirements. , the institution's total assets were valued at approximately US$390.411 million, with shareholders' equity of approximately US$261.36 million.

History

EADB was established in 1967 under the treaty of the then East African Cooperation between Kenya, Tanzania, and Uganda. Following the breakup of the first

(EAC) in 1977, the bank was re-established under its own charter in 1980. In 2008, following the admission of Burundi and Rwanda into the new EAC, Rwanda applied and was admitted into the EADB. Under the new charter, the bank's role and mandate were reviewed and its operational scope expanded. Under its expanded operational scope, the bank offers a broad range of financial services in the member states. Its main objective is to strengthen socio-economic development and regional integration.

Ownership

The ownership of the EADB as of December 2013 is detailed in the table below. , the bank's shareholders' equity totaled approximately US$166.03 million. In January 2013, the African Development Bank injected US$24 million into EADB in new equity, bringing its shareholding to 15 percent.

Awards

In November 2014, the Association of African Development Finance Institutions ranked EADB, "the best performing development finance institution in Africa" for the second consecutive year, with an AA rating. The bank was ranked the best out of 33 institutions that submitted to the evaluation.

Bank structure

EADB's structure is composed of the following; * Governing Council * Advisory Panel * Board of Directors * Management Team The details of the current structure of EADB are outlined at the bank's website.

Branch network

The headquarters of the bank are located in Uganda's capital,

Kampala Kampala (, ) is the capital and largest city of Uganda. The city proper has a population of 1,680,000 and is divided into the five political divisions of Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division, and Ruba ...

. As of June 2014, EADB had three other branches, one each in the East African capitals of

Nairobi Nairobi ( ) is the capital and largest city of Kenya. The name is derived from the Maasai phrase ''Enkare Nairobi'', which translates to "place of cool waters", a reference to the Nairobi River which flows through the city. The city proper h ...

, Kigali, and

Dar-es-Salaam Dar es Salaam (; from ar, دَار السَّلَام, Dâr es-Selâm, lit=Abode of Peace) or commonly known as Dar, is the largest city and financial hub of Tanzania. It is also the capital of Dar es Salaam Region. With a population of over s ...

. A branch will be established in Bujumbura as soon as Burundi joins the bank.

References

External links

EADB Website

{{coord, 00, 18, 54, N, 32, 34, 48, E, display=title Banks of Uganda Banks of Kenya Banks of Rwanda Banks of Tanzania Companies based in Kampala Multilateral development banks Development finance institutions