East African Development BankThe East African Development Bank (EADB) was established by the Treaty for East African Cooperation, signed by the Governments of Kenya, Tanzania and Uganda in 1967. Due to changing events, a new charter for the bank, with the same signatories, came into force in 1980.
According to the original treaty, the bank's mandate focused on the provision of financial and technical assistance for the promotion of industrial development in member countries. With the new charter this mandate was broadened to include involvement in agriculture, forestry, tourism, transport and the development of infrastructure, with preference for projects that promote regional cooperation.
In 1983, the bank was authorized by the International Monetary Fund (IMF) to acquire and use special drawing rights (SDRs) in operations and transactions with participants in the IMF's SDR Department and other holders under the same terms and conditions that apply to those participants.
- To provide financial assistance for promotion of development of the member countries
- To give attention to economic development in the region in such fields as industry, tourism, agriculture, transport and telecommunications and other related fields of development
- To supplement national development activities of the member countries through joint financing operations, technical assistance and the use of agencies as channels for financing specific projects
- To cooperate with other public, private, national or international institutions and organizations which are interested in the development of member countries
- To generally promote the development of the region and undertake other services to advance the objectives of the Bank
The bank's financing includes the following products:
- Medium-term loans. The bank provides loans to various economic sectors including: the industry and mining sector (metal and engineering, pharmaceuticals, textiles, beverage and meat processing); the infrastructure sector (power generation, distribution and development of industrial parks); the services sector (banking education and postal services); agro-processing sector (tea processing); and tourism.
- Short-term/working capital loans
- Asset lease finance
EADB provides loans and guarantees and takes equity investment in most sectors of member countries' economies such as agriculture, industry and tourism.
Contact DetailsEast African Development Bank
4 Nile Avenue
P.O. Box 7128
Web site: http://transafrica.org/eadb/