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East Africa Development Bank Marks 50 Years

This year, East African Development Bank  (EADB) 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.

Vivienne Yeda,Director General,EADB (second right),Dr. Mukhisa Kituyi,Secretary General at UNCTAD (far right),Dr. Mbui Wagacha,Former Senior Economic Advisor to the Office of the President (second left) and Dr.Daniel Poon,Economist at UNCTAD (far left) having a discussion during the conference and culmination of 50 years Anniversary for East African Development Bank held in Kampala,Uganda.

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.

A celebration of 50th anniversary

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.

“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.

 

 

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