The East African Development Bank (EADB) is a Nominee for the 2019 Uganda Responsible Investment Award (URI Award) slated for 22nd November 2019 during a High Level Uganda Responsible Investment Summit and Award Ceremony. The 2019 Uganda Responsible Investment Summit and Award Ceremony is organised by Public Opinions and Office of the Minister of State for Privatisation and Investment
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.
Founded in 1967 as one of the key institutions of the East African Community, the East African Development Bank has built a reputation as a provider of long term finance for enterprises in East Africa. In a region where demand for long term finance is growing, the Bank has cultivated a diverse client base.
The story of the East African Development Bank has been one of hard work, resilience and vision. It has supported economic growth through lending to business, pioneered equity finance and interceded on policy for the creators of wealth in East Africa, one of Africa’s fastest growing regions.
From its founding in 1967, as a key institution of the East African Community, the EADB has built a proud track record supporting capital projects in both the public and private sectors. It was founded by the original three members of the EAC – Kenya, Uganda and Tanzania – with a mandate to stimulate economic growth and social progress in the region.
The Bank’s shareholding was subsequently expanded with the joining of multilateral development financiers and commercial banks, including the African Development Bank (AfDB); the Netherlands Development Company (FMO); German Investment and Development Company (DEG); SBIC Africa Holdings, Commercial Bank of Africa, Standard Chartered Bank and Barclays Bank Plc as Class B (Institutional) shareholders. In 2008, Rwanda joined as the fourth Class A (Member State) shareholder.
The EADB reached its nadir in 1977 when its parent organisation, the EAC collapsed. During this time, most EAC agencies foundered in the wake of the turmoil occasioned by the disintegration of the EAC. To its credit, the EADB survived, largely by dint of the commitments made by the Member States which were signatories to the EADB Treaty.
That the EADB weathered the collapse of the EAC provided impetus to the shareholders to re-organise and strengthen the mandate of the Bank.
In 1980, EADB was re-established under its own Charter with a broader, more robust mandate in which Member States sought to liberalise and loosen state control. On the operational front, the Bank strengthened its internal operations by decentralising project operations to country offices, which were set up in Uganda, Kenya and Tanzania.
The decentralisation further enabled the Bank to broaden its reach across the region, giving birth to a new generation of entrepreneurs. What followed was a period of recovery as the Bank could now finance a broader range of enterprises, among them ventures in agriculture, energy and telecommunications.
While from the outset, the EADB built a loan portfolio primarily in the industrial, service and agricultural sectors in the three founder states, it has evolved to become a trailblazer in private equity investment and financing of SMEs (Small and Medium Enterprises), which had previously struggled to raise capital from commercial banks.
Today the Bank is poised to facilitate the financing of intra-regional country infrastructure that will further strengthen and foster the integration of the East African economy.
East Africa Development Bank marks 50 years of banking, investments and social responsibility, throughout East Africa
Kampala, Uganda (6th December, 2018) – 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 its’ 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 weathered a scare of extinction after the collapse of East African Community. The Bank re-energized 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.
A celebration of the 50th anniversary of EADB
During its’ 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 remainedunwavering 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 (2021-2025) 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 great minds from Academia, Business, Donors and Government to envision the sustainable development required in Africa during the symposium in an event dubbed “Think Tank” #Generation2068. “We know that the future generations will face different challenges than 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 invest in opportunities with resolve and wisdom “added Vivienne Yeda.
EADB HEAD OFFICE
EADB Building, Plot 4 Nile Avenue
P.O Box 7128, Kampala
+256 417 112900/+256 312 30000