African Development Bank to Remain in Tunisia

African Development Bank in Lac 2, Tunis, Tunisia

Contrary to some reports, the African Development Bank’s (AfDB) return to its original headquarters in Abidjan, Ivory Coast, is not imminent. Richard Uku, AfDB’s External Relations and Communications Director, told the Tunisian News Agency (TAP) on Wednesday that “No decision has been taken yet regarding the imminent return of the AfDB to Abidjan.”

Uku added that “Nothing has changed since the governors’ council announcement during the bank’s most recent annual assembly meeting in Lisbon, Portugal, on June 10, 2011. It [the assembly] set a three-year period during which the institution could at any time plan its return to Abidjan, if the conditions are favourable.”

Uku specified that, “The date of the return is not yet fixed and nothing has changed since June,” reiterating that the AfDB’s headquarters in Tunisia is a ‘temporary relocation agency.’ He asserted that AfDB’s presence of eight years in Tunisia is going to remain strong.

The AfDB would return to its Abidjan headquarters if maximum security is restored and if the bank’s premises in Abidjan are met. Conditions for return are examined on a regular basis by a bipartite commission composed of senior representatives of the Ivorian government and AfDB. This commission meets once a year to review the situation in Abidjan.

The Bank’s eight years of relocation have been advantageous to Tunisia, as the country receives the greatest amount of loans from the bank, in addition to the bank’s operational help – offering technical assistance and sharing its economic and sectorial studies. Currently, 19 projects worth over two billions euros in sum, are funded by AfDB.

According to Uku, the AfDB intends to continue supporting development in Tunisia, particularly during the country’s democratic transition. Tunisia is AfDB’s second historical partner, with a total investment amount of over 5.5 billion euros and more than one hundred projects completed.

The African Development Bank Group was founded in 1964 and the bank began operations in 1966 in Abidjan, Ivory Coast. The bank had to move however during the Ivory Coast crisis and thus settled in Tunisia. The Group is composed of three main institutions: the African Devolpement Bank (AfDB), the African Devolopment Fund (ADF), and the Nigeria Trust Fund (NTF). Its shareholders include both African and non-African countries. 53 African countries are regional members and the 24 non-African countries are non-regional members. According to African Development Bank Group’s website,  AfDB’s mission is to “promote sustainable economic growth and reduce poverty in Africa and in accordance with its policy of decentralization aimed at taking its operations closer to its beneficiaries, the Bank has, over the past few years, established about 23 field and country offices across the continent.”