East African Development Bank facts for kids
| Private | |
| Industry | Finance |
| Founded | 1967 |
| Headquarters | 4 Nile Avenue, Kampala, Uganda |
|
Key people
|
Hon. Matia Kasaija Current Chairperson, Governing Council Vivienne Yeda Apopo Director General |
| Products | Loans, leasing, real estate, trade finance, equity investments |
| Revenue |  Aftertax:US$6.594 million (2022) |
| Total assets | US$390.411 million (2017), US$390,234 million (2021), US$415,998 million (2022) |
| Owner | Governments of Kenya Rwanda Tanzania Uganda African Development Bank NCBA Group Plc and others. |
|
Number of employees
|
78 |
The East African Development Bank (EADB) is a special bank that helps countries in East Africa grow and develop. It's located in Kampala, Uganda. Its main goal is to help countries like Kenya, Uganda, Rwanda, and Tanzania become stronger and more successful. The bank started way back in 1967 and has been working to help these countries ever since.
Contents
What the EADB Does
The EADB acts like a helper, an advisor, and a partner for development. It lends money for projects that are good for the economy and can last a long time. The bank offers different kinds of financial help that are just right for the needs of the East African region. It has experienced staff and a good understanding of what the region needs financially. In December 2022, the bank had assets (things it owns) worth about US$415,998 million.
EADB's Goals and Dreams
The East African Development Bank wants to be the best partner for helping East Africa grow in a good and lasting way. Its main goal is to help countries in East Africa develop their economies and societies. It does this by offering money solutions, expert advice, and other helpful services.
How the EADB Started
The EADB was created in 1967. This happened when Kenya, Tanzania, and Uganda worked together under the first East African Cooperation. When that cooperation ended in 1977, the bank was restarted in 1980 with its own special rules.
Later, in 2008, Rwanda joined the new East African Community. After that, Rwanda also became a member of the EADB. With new rules, the bank's job became bigger. It now offers many different financial services to its member countries. Its main aim is to make the region stronger and help countries work together.
Who Owns the EADB?
Many different groups own parts of the EADB. This includes the governments of the member countries and other financial organizations. Here's a look at who owned the bank in December 2022:
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | Government of Kenya | 26.32 |
| 2 | Government of Uganda | 26.32 |
| 3 | Government of Tanzania | 26.32 |
| 4 | Government of Rwanda | 9.26 |
| 5 | African Development Bank | 8.6 |
| 6 | Netherlands Development Finance Company | 2.16 |
| 7 | German Investment Corporation | 0.58 |
| 8 | Consortium of Yugoslav Institutions | 0.19 |
| 9 | SBIC - Africa Holdings | 0.17 |
| 10 | NCBA Group Plc - Nairobi | 0.03 |
| 11 | Nordea Bank - Sweden | 0.03 |
| 12 | Barclays Bank - London | 0.01 |
| 13 | Standard Chartered Bank - London | 0.01 |
| Total | 100.0 |
In December 2013, the bank's owners had put in about US$166.03 million. In January 2013, the African Development Bank added US$24 million more. This made their share of ownership 15 percent. In 2022, the EADB made a profit of almost US$6.6 million. In 2021, it made almost US$7.9 million in profit.
How the EADB is Organized
The EADB has a few important groups that help it run smoothly:
- Governing Council
This group is made up of the Ministers of Finance from each member country. They are the highest decision-makers for the bank. They meet regularly to look at reports from the Board of Directors.
- Advisory Panel
This panel has smart people who know a lot about international finance and development. They give advice to the bank on the best ways to reach its goals.
- Board of Directors
The Board of Directors makes all the big decisions for the bank. They meet at least four times a year to check reports from the management team. This board includes important people from the Ministries of Finance, private businesses, and Director Generals from member countries.
- Management Team
This team is in charge of the bank's daily operations. They make sure that risks are managed well and that the bank follows its rules. They find and check risks, making sure everything is done according to the bank's plans.
You can find more details about how the EADB is organized on its official website.
EADB's Achievements and Awards
The EADB was the first regional bank of its kind in Sub-Saharan Africa, starting in 1967. In November 2014, a group called the Association of African Development Finance Institutions said the EADB was "the best performing development finance institution in Africa." This was the second year in a row it received this honor. The EADB was ranked number one out of 33 banks that were evaluated.
In 2015, the East African Development Bank was the first bank in East Africa to get a good rating of Baa3 from Moody's Investors Services. This means it was seen as a safe place for investments. More recently, the bank won the ABA Best Development Bank award in 2018. It also won the Bank of the Year Africa award in 2021.
Where are EADB's Offices?
The main office of the bank is in Kampala, the capital city of Uganda. As of December 2022, the East African Development Bank also has three other offices. These are in the capital cities of Nairobi (Kenya), Kigali (Rwanda), and Dar-es-Salaam (Tanzania). If Burundi joins the bank in the future, an office will be opened in Bujumbura.
See also
In Spanish: Banco de Desarrollo de África Oriental para niños
- World Bank
- PTA Bank
- Rwanda Development Bank
- Uganda Development Bank
