AFRICAN DEVELOPMENT BANK (ADB), Formation: African Development Bank (ADB) was established in 1964 with its headquarters in Abidjan, Cote d’Ivoire. It is a bank owned by African countries, which belonged to Organization of African Unity (O.A.U), now African Union, the ADB was jointly set up by the effort of the O.A.U and Economic Commission for Africa (ECA).
When did African development bank ADB starts its operation
It started full operations in 1966, with initial membership of 23 African countries and as at 1970 membership had risen to 31
Objectives and functions of ADB, the African development bank
- Provision of loans to aid social and economic development of member-nations is a critical objective of African development bank
- Provision of technical assistance for development projects and programmes embarked upon by member-nations
- Promotion of both private and public investment in projects which contribute to the economic and social development of member-states
- It fosters economic integration among member-nations
- Provision of fund for the supply and development of infrastructural facilities such as electricity; water, transport and telecommunications
- Provision of fund for the agricultural development of member-nations
159. TAPE WORM
160. ROUND WORM OF PIGS
161. LIVER FLUKE
162. ECTO PARASITES
AFRICAN DEVELOPMENT BANK
- 110. THE RESPIRATORY SYSTEM
- 111. THE TRACHEA INSPIRATION THE EXPIRATION THE DIAPHRAGM
- 112. HEAT PERIODS OESTROUS CYCLE
- 113. MATING
Definition: Memorandum of Association is a document forming the constitution of a company and defining its objectives and powers with regard to its dealing with the outside world. It is the document containing the rules and regulations which govern the external relationship of a company with outsiders. Once registered, the memorandum becomes a public document.
A Memorandum of Association contains the following information:
- The name of the company, which must end with the word “Limited” or “Plc”
- The registered office of the company.
- The objectives of the company.
- The amount of authorised capital and the various shares into which it is divided.
- A declaration that the liability of the members are limited.
- The names of founders of the company.
- Status of the company, that is, private or public.
- The restriction, if any, on the power of the company.
Articles of Association Definition: Articles of Association is a document in which the regulations which govern the internal management of the company’s affairs, the duties, rights and powers of the shareholders are stated. It complements the memorandum of association. However, where there is conflict between the two documents, the memorandum prevails.
The contents of an Article of Association include:
- The method of issuing capital.
- The method of holding meetings.
- Definition of powers and duties of directors.
- The right of shareholders.
- How directors are to be elected.
- How auditors are to be remunerated
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