History
The East African Development Bank was established in 1967 under the treaty of the then East African Cooperation between Kenya, Tanzania and Uganda. Following the breakup of the first East African Community (EAC) in 1977, the bank was re-established under its own charter in 1980. In 2008, following the admission of Burundi and Rwanda into the new EAC, Rwanda applied and was admitted into the EADB.
Under the new charter, the bank’s role and mandate were reviewed and its operational scope expanded. Under its expanded operational scope, the bank offers a broad range of financial services in the Member States. Its main objective is to strengthen socio-economic development and regional integration.
Read more about this topic: East African Development Bank
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