East African Development Bank (EADB) is a leading development finance institution with the objective of promoting development in
East AfricaEast Africa or Eastern Africa is the easterly region of the African continent, variably defined by geography or geopolitics. In the UN scheme of geographic regions, 19 territories constitute Eastern Africa:...
. EADB plays a threefold role of lender, adviser and development partner. The bank provides a range of products and services which are tailor made for the region's development requirements. The bank has a wealth of experience, solid financial backing, highly qualified staff and a thorough knowledge of the region's financial requirements.
East African Development Bank (EADB) is a leading development finance institution with the objective of promoting development in
East AfricaEast Africa or Eastern Africa is the easterly region of the African continent, variably defined by geography or geopolitics. In the UN scheme of geographic regions, 19 territories constitute Eastern Africa:...
. EADB plays a threefold role of lender, adviser and development partner. The bank provides a range of products and services which are tailor made for the region's development requirements. The bank has a wealth of experience, solid financial backing, highly qualified staff and a thorough knowledge of the region's financial requirements. As of February 2009, the capitalization of EADB is valued at approximately US$275 million.
History
The East African Development Bank was established in 1967 under the treaty of the then East African Cooperation between
KenyaThe Republic of Kenya is a country in East Africa. Lying along the Indian Ocean, at the equator, Kenya is bordered by Ethiopia , Somalia , Tanzania , Uganda plus Lake Victoria , and Sudan . The capital city is Nairobi. Kenya spans an area about 85% the size of France or Texas...
,
TanzaniaThe United Republic of Tanzania is a country in central East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi and the Democratic Republic of the Congo to the west, and Zambia, Malawi and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.The United...
and
UgandaThe Republic of Uganda is a landlocked country in East Africa. It is bordered on the east by Kenya, on the north by Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by Tanzania...
. Following the break up of the
East African CommunityThe East African Community is an intergovernmental organisation comprising the five east African countries Burundi, Kenya, Rwanda, Tanzania, and Uganda. While generally, the member nations are largely in favor of the East African Federation, informal polls indicate that most Tanzanians have an...
in 1977, the bank was re-established under its own charter in 1980. In 2008, following the admission of
BurundiBurundi , officially the Republic of Burundi, is a country in the Great Lakes region of Eastern Africa bordered by Rwanda to the north, Tanzania to the east and south, and the Democratic Republic of the Congo to the west. Its size is just under 28,000 km² with an estimated population of...
and
RwandaThe Republic of Rwanda is a small landlocked country in the Great Lakes region of east-central Africa, bordered by Uganda, Burundi, the Democratic Republic of the Congo and Tanzania. Home to approaching 10 million people, Rwanda supports the densest population in continental Africa, most of whom...
into the
EACEAC may mean:Organisations in North America:* Editors' Association of Canada* Election Assistance Commission U.S.* Eastern Arizona College* Eastern Athletic Conference, a high school sports conference in Massachusetts* Electronic Arts Canada...
,
RwandaThe Republic of Rwanda is a small landlocked country in the Great Lakes region of east-central Africa, bordered by Uganda, Burundi, the Democratic Republic of the Congo and Tanzania. Home to approaching 10 million people, Rwanda supports the densest population in continental Africa, most of whom...
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
As of February 2009, the ownership of the East African Development Bank is detailed in the table below.
{| style="font-size:95%;"
|-
| width="80%" align="center" |
East African Development Bank Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Government of Kenya||20.94
|-
|2||Government of Rwanda||20.94
|-
|3||Government of Tanzania||20.94
|-
|4||Government of Uganda||20.94
|-
|5||
African Development BankThe African Development Bank Group is a development bank established in 1964 with the intention of promoting economic and social development in Africa...
||7.80
|-
|6||FMO -
NetherlandsThe Netherlands is a country in Northwestern Europe, constituting the major portion of the Kingdom of the Netherlands. It is a parliamentary democratic constitutional monarchy. The Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east...
||5.85
|-
|7||DEG -
GermanyGermany , officially the Federal Republic of Germany , is a country in Central Europe. It is bordered to the north by the North Sea, Denmark, and the Baltic Sea; to the east by Poland and the Czech Republic; to the south by Austria and Switzerland; and to the west by France, Luxembourg, Belgium,...
||1.60
|-
|8||Yugoslav Institutions||0.44
|-
|9||SBIC - Africa Holdings||0.37
|-
|10||Commercial Bank of Africa -
NairobiNairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi Province. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters"...
||0.07
|-
|11||Nordea Bank -
SwedenSweden , officially the Kingdom of Sweden , is a Nordic country on the Scandinavian Peninsula in Northern Europe...
||0.07
|-
|12||Barclays Bank -
London[]London is the capital of England and the United Kingdom. It has been a major settlement for two millennia, and the history of London goes back to its founding by the Romans, when it was named Londinium. London's core, the ancient City of London, the 'square mile', retains its medieval boundaries...
||0.02
|-
|13||
Standard Chartered BankStandard Chartered Bank is a British bank headquartered in London with operations in more than seventy countries. It operates a network of over 1,700 branches and outlets and employs 73,000 people....
-
London[]London is the capital of England and the United Kingdom. It has been a major settlement for two millennia, and the history of London goes back to its founding by the Romans, when it was named Londinium. London's core, the ancient City of London, the 'square mile', retains its medieval boundaries...
||0.02
|-
|}
The revitalization of the regional cooperation among the Member States through the establishment of the new
East African CommunityThe East African Community is an intergovernmental organisation comprising the five east African countries Burundi, Kenya, Rwanda, Tanzania, and Uganda. While generally, the member nations are largely in favor of the East African Federation, informal polls indicate that most Tanzanians have an...
(
EACEAC may mean:Organisations in North America:* Editors' Association of Canada* Election Assistance Commission U.S.* Eastern Arizona College* Eastern Athletic Conference, a high school sports conference in Massachusetts* Electronic Arts Canada...
) has accorded the Bank the opportunity of playing a catalyzing role in regional integration through provision of development finance. The ensuing prospects conform to the Bank’s envisaged stable outlook.
The EADB is internationally rated.
Bank structure
The Bank structure comprises the following;
- Governing Council
- Advisory Panel
- The Board of Directors
- The Management Team
The details of the current structure of EADB are outlined at the bank’s web site.
Branch network
The headquarters of the bank are located in Uganda's capital,
KampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division...
. As of February 2009, EADB has three (3) other branches, one each in the East African capitals of
NairobiNairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi Province. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters"...
,
KigaliKigali, population 851,024 , is the capital and largest city of Rwanda. It is situated in the centre of the nation, and has been the economic, cultural, and transport hub of Rwanda since it became capital at independence in 1962. The main residence and offices of the President of Rwanda are located...
and Dar-es-Salaam.
A branch will be established in
BujumburaBujumbura is the capital city and main port of Burundi and ships most of the country's chief export, coffee, as well as cotton, skins, and tin ore.-Description:...
as soon as
BurundiBurundi , officially the Republic of Burundi, is a country in the Great Lakes region of Eastern Africa bordered by Rwanda to the north, Tanzania to the east and south, and the Democratic Republic of the Congo to the west. Its size is just under 28,000 km² with an estimated population of...
joins the bank; which is expected soon.
External links