This year, East African Development Bank clocks half a century excelling in being the leading development finance institution for member states.
It marks the 50th year when the bank first opened its door for business. With primary focus on interventions in food security, infrastructure, education, health, natural resources, environment and regional integration.
Since its establishment in 1967, the bank has remitted financial and other support to its member states.
In contrast to other development finance institutions, EADB has over the five decades successfully adapted to an industry in complete transformation, owing to the bank’s strategy of promoting sustainable socio-economic development in East Africa. In 1977, the bank suffered a scare of extinction after the collapse of East African Community due to operational and ideological differences between member states.
The Bank was later reenacted by the signing of the Arusha Accord, which divided the assets of the former EAC and agreed that EADB should operate as a joint East African institution.
Over the fifty years journey, EADB has made significant contribution to member states in areas of education, health, environmental and natural resources protection and trade
“All these success wouldn’t have been possible without the hospitality of our wonderful host country Uganda her people & her leadership. We also thank our shareholders who remained unwavering in their support to the EADB over the last 50 years even in cloudy and stormy weather “said Ms. Vivienne Yeda, Director General EADB, during the celebrations at Serena Kampala Hotel.
EADB’s next Strategic Plan (2020-2025) and a 50 Year Vision for Sustainable Development in Africa.
“In order for EADB to impact the region and continue to support efforts by member states, towards realization of next 50 years vision of prosperity for our people, we must Create the Future we Want, hence #Generation2068 macroeconomic symposium in Kampala. The EADB has assembled the greatest minds from Academia, Business, Donors and Government to envision the sustainable development required in Africa during the symposium in an event dubbed Think Tank.”
“We know that the future generations will face different challenges that we do due to the diminishing resources in our planet. We have come along & have many opportunities to shape the destiny of future generations so that they would be better off in real terms than we are today. We must address our challenges and difficulties with resolve and wisdom “added Ms. Vivienne.
The East African Development Bank (EADB) was established in 1967 under the treaty of the then East African Cooperation. Its mandate was to provide financial and related assistance to enterprises in the member States which, by their activities, were expected to make a positive contribution to socio-economic development in the region.
The Bank was re-established under a new Charter in 1980.
Under the Charter, the Bank’s role and mandate were reviewed and its operational scope expanded to include a broad range of financial services in the Member States with an overriding objective of strengthening socio-economic development and regional integration.
EADB is today owned by the four Member States of Kenya, Uganda, Tanzania and Rwanda as well as other development and commercial financial institutions. Being an organ of the EAC and its partnership with EAC institutions has accorded it a platform to play a catalyzing role in regional integration through provision of development finance.