East African Development Bank
Encyclopedia
East African Development Bank (EADB) is a development finance institution with the objective of promoting development in East Africa
.
, Tanzania
and Uganda
. Following the breakup of the East African Community
in 1977, the bank was re-established under its own charter in 1980. In 2008, following the admission of Burundi
and Rwanda
into the 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.
{| style="font-size:100%;"
|-
| width="100%" 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||27.20
|-
|2||Government of Tanzania||27.20
|-
|3||Government of Uganda||27.20
|-
|4||Government of Rwanda||4.34
|-
|5||African Development Bank
||6.76
|-
|6||Netherlands Development Finance Company (FMO)||5.07
|-
|7||German Investment Corporation
(DEG)||1.35
|-
|8||Yugoslav Institutions||0.38
|-
|9||SBIC - Africa Holdings||0.32
|-
|10||Commercial Bank of Africa
- Nairobi
||0.07
|-
|11||Nordea Bank - Sweden
||0.07
|-
|12||Barclays Bank - London
||0.03
|-
|13||Standard Chartered Bank
- London
||0.03
|-
| || Total||100.0
|-
|}
The revitalization of the regional cooperation among the Member States through the establishment of the new East African Community
(EAC
) 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 bank's shareholders' equity totaled approximately US$87.3 million. The EADB is Internationally rated.
The details of the current structure of EADB are outlined at the bank’s web site.
. As of February 2009, EADB has three (3) other branches, one each in the East African capitals of Nairobi
, Kigali
and Dar-es-Salaam. A branch will be established in Bujumbura
as soon as Burundi
joins the bank; which is expected soon.
East Africa
East 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:...
.
Overview
EADB plays a threefold role of lender, adviser and development partner. The bank provides a range of products and services which are made 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$237.7 million.History
The East African Development Bank was established in 1967 under the treaty of the then East African Cooperation between KenyaKenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
, Tanzania
Tanzania
The United Republic of Tanzania is a country in 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.Tanzania is a state...
and Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
. Following the breakup of the East African Community
East African Community
The East African Community is an intergovernmental organisation comprising the five east African countries Burundi, Kenya, Rwanda, Tanzania, and Uganda. Pierre Nkurunziza, the President of the Republic of Burundi, is the current Chairman of the East African Community. The EAC was originally...
in 1977, the bank was re-established under its own charter in 1980. In 2008, following the admission of Burundi
Burundi
Burundi , officially the Republic of Burundi , is a landlocked 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 capital is Bujumbura...
and Rwanda
Rwanda
Rwanda or , officially the Republic of Rwanda , is a country in central and eastern Africa with a population of approximately 11.4 million . Rwanda is located a few degrees south of the Equator, and is bordered by Uganda, Tanzania, Burundi and the Democratic Republic of the Congo...
into the EAC
EAC
EAC may mean:Organizations 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...
, Rwanda
Rwanda
Rwanda or , officially the Republic of Rwanda , is a country in central and eastern Africa with a population of approximately 11.4 million . Rwanda is located a few degrees south of the Equator, and is bordered by Uganda, Tanzania, Burundi and the Democratic Republic of the Congo...
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 East African Development Bank is detailed in the table below.{| style="font-size:100%;"
|-
| width="100%" 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||27.20
|-
|2||Government of Tanzania||27.20
|-
|3||Government of Uganda||27.20
|-
|4||Government of Rwanda||4.34
|-
|5||African Development Bank
African Development Bank
The African Development Bank Group is a development bank established in 1964 with the intention of promoting economic and social development in Africa...
||6.76
|-
|6||Netherlands Development Finance Company (FMO)||5.07
|-
|7||German Investment Corporation
German Investment Corporation
Deutsche Investitions- und Entwicklungsgesellschaft translates into German Investment Corporation. DEG is a member of KfW Bank Group , an arm of the government of the Federal Republic of Germany....
(DEG)||1.35
|-
|8||Yugoslav Institutions||0.38
|-
|9||SBIC - Africa Holdings||0.32
|-
|10||Commercial Bank of Africa
Commercial Bank of Africa
Commercial Bank of Africa is a financial services provider headquartered in Nairobi, Kenya. CBA is one of the forty-four licensed commercial banks in the country.-Overview:...
- Nairobi
Nairobi
Nairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is...
||0.07
|-
|11||Nordea Bank - Sweden
Sweden
Sweden , officially the Kingdom of Sweden , is a Nordic country on the Scandinavian Peninsula in Northern Europe. Sweden borders with Norway and Finland and is connected to Denmark by a bridge-tunnel across the Öresund....
||0.07
|-
|12||Barclays Bank - London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
||0.03
|-
|13||Standard Chartered Bank
Standard Chartered Bank
Standard Chartered PLC is a multinational financial services company headquartered in London, United Kingdom with operations in more than seventy countries...
- London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
||0.03
|-
| || Total||100.0
|-
|}
The revitalization of the regional cooperation among the Member States through the establishment of the new East African Community
East African Community
The East African Community is an intergovernmental organisation comprising the five east African countries Burundi, Kenya, Rwanda, Tanzania, and Uganda. Pierre Nkurunziza, the President of the Republic of Burundi, is the current Chairman of the East African Community. The EAC was originally...
(EAC
EAC
EAC may mean:Organizations 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 bank's shareholders' equity totaled approximately US$87.3 million. 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
Kampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
. As of February 2009, EADB has three (3) other branches, one each in the East African capitals of Nairobi
Nairobi
Nairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is...
, Kigali
Kigali
Kigali, population 965,398 , is the capital and largest city of Rwanda. It is situated near the geographic 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...
and Dar-es-Salaam. A branch will be established in Bujumbura
Bujumbura
-Education:The University of Burundi is located in Bujumbura.Hope Africa University is located in BujumburaUniversité du Lac Tanganyika is located in Bujumbura-External links:**...
as soon as Burundi
Burundi
Burundi , officially the Republic of Burundi , is a landlocked 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 capital is Bujumbura...
joins the bank; which is expected soon.