East African Development Bank facts for kids
| Private | |
| Industry | Finance |
| Founded | 1967 |
| Headquarters | 4 Nile Avenue, Kampala, Uganda |
|
Key people
|
Philip Mpango Chairperson, Governing Council Vivienne Yeda Apopo Director General |
| Products | Loans, leasing, real estate, trade finance, equity investments |
| Revenue |  Aftertax:US$10.213 million (2017) |
| Total assets | US$390.411 million (2017) |
| Owner | Governments of Kenya Rwanda Tanzania Uganda African Development Bank NCBA Group Plc and others. |
|
Number of employees
|
78 (2012) |
The East African Development Bank (EADB) is a special bank that helps countries in East Africa grow and develop. It's like a partner that provides money and advice to help these countries become stronger.
Contents
What the EADB Does
The EADB has three main jobs: it lends money, gives advice, and works as a development partner. This means it offers different ways to help meet the needs of the region.
The bank has a lot of experience and financial support. It also has staff who understand the financial needs of East Africa. In December 2017, the bank had assets (things it owns) worth about US$390.411 million. Its shareholders' equity (the money its owners have put in) was about US$261.36 million.
A Brief History of EADB
The EADB was first started in 1967. This was part of an agreement between Kenya, Tanzania, and Uganda. They were all part of the first East African Cooperation.
In 1977, the first East African Community broke up. But the bank was restarted in 1980 with its own special rules.
Later, in 2008, Burundi and Rwanda joined the new East African Community. Rwanda then also joined the EADB. With new rules, the bank's role grew. It now offers many financial services to its member countries. Its main goal is to help with social and economic growth and to bring the region closer together.
Who Owns the EADB?
Many different groups own parts of the EADB. This includes governments and other banks. Here's a look at who owned the bank in December 2013:
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | Government of Kenya | 27.0 |
| 2 | Government of Uganda | 27.0 |
| 3 | Government of Tanzania | 24.0 |
| 4 | Government of Rwanda | 1.0 |
| 5 | African Development Bank | 11.0 |
| 6 | Netherlands Development Finance Company | 3.0 |
| 7 | German Investment Corporation | 1.0 |
| 8 | Consortium of Yugoslav Institutions | 1.0 |
| 9 | SBIC - Africa Holdings | 1.0 |
| 10 | NCBA Group Plc - Nairobi | 1.0 |
| 11 | Nordea Bank - Sweden | 1.0 |
| 12 | Barclays Bank - London | 1.0 |
| 13 | Standard Chartered Bank - London | 1.0 |
| Total | 100.0 |
In December 2013, the money put in by the bank's owners was about US$166.03 million. In January 2013, the African Development Bank added US$24 million. This made their share of ownership 15 percent.
Awards and Recognition
In November 2014, the EADB was named "the best performing development finance institution in Africa." This was by the Association of African Development Finance Institutions. It was the second year in a row the EADB received this top honor. The bank was ranked number one out of 33 institutions that were evaluated.
How the Bank is Organized
The EADB has several important parts that help it run smoothly:
- Governing Council
- Advisory Panel
- Board of Directors
- Management Team
You can find more details about how the EADB is organized on the bank's official website.
Where to Find EADB Branches
The main office of the EADB is in Kampala, the capital city of Uganda.
As of June 2014, the EADB also had three other branches. These are in the East African capital cities of Nairobi (Kenya), Kigali (Rwanda), and Dar-es-Salaam (Tanzania). A branch will also open in Bujumbura once Burundi officially joins the bank.
See also
In Spanish: Banco de Desarrollo de África Oriental para niños
- World Bank
- PTA Bank
- Rwanda Development Bank
- Uganda Development Bank
