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Information Statement INFORMATION STATEMENT African Development Bank The African Development Bank (the “Bank” or “ADB”) intends from time to time to issue debt securities (the “Securities”) with maturities and on terms related to market conditions at the time of sale. The Securities may be sold to dealers or underwriters, who may resell the Securities in public offerings or otherwise. In addition, the Securities may be sold by the Bank directly or indirectly through agents. The specific aggregate principal amount, status, maturity, interest rate, or interest rate formula and dates of payment of interest, purchase price to be paid to the Bank, any terms for redemption or other special terms, currency or currencies, form and denomination of Securities, information as to stock exchange listings and the names and any compensation of the dealers, underwriters or agents in connection with the sale of the Securities being offered at a particular time (“Offered Securities”) will be set forth or referred to in a prospectus, offering circular, information memorandum, supplemental information statement, or pricing supplement, together with the terms of offering of the Offered Securities. Securities issued by the Bank are not required to be registered under the U.S. Securities Act of 1933, as amended. Accordingly, no registration statement has been filed with the U.S. Securities and Exchange Commission (the “Commission” or the “SEC”). The Securities have not been approved or disapproved by the Commission or any state securities commission nor has the Commission or any state securities commission passed upon the accuracy or adequacy of this Information Statement. Any representation to the contrary is a criminal offence in the United States of America. Recipients of this Information Statement should retain it for future reference, since it is intended that each prospectus, offering circular, information memorandum, or supplemental information statement or pricing supplement prepared in connection with the issuance of Offered Securities will refer to this Information Statement for a description of the Bank and its financial condition and results of operation, until a new information statement is issued. 6 August 2018 1 AVAILABILITY OF INFORMATION The Bank will provide additional copies of this Information Statement and other information with respect to the Bank, including the Agreement Establishing the African Development Bank, as amended (the “Agreement” or the “Bank Agreement”) and its annual report to the Boards of Governors, upon request. Written or telephone requests may be directed to the Bank’s address at Immeuble Siege, 6 Avenue Joseph Anoma, Plateau, 01 BP 1387, Abidjan 01, Côte d’Ivoire, Attention: The Treasurer, telephone +225-20-26-20-28, facsimile +225-20-24-21-55. The Information Statement is also available on the Bank’s website (http://www.afdb.org). The annual report and the documents and information on the Bank’s website are not intended to be incorporated by reference in this Information Statement. In the United States, this Information Statement is to be filed with the U.S. Securities and Exchange Commission (the ‘‘SEC’’) electronically through the EDGAR system and will be available at the website address http://www.sec.gov/edgarhp.htm. The Bank has also filed unaudited quarterly financial statements with the SEC. These filings are also available electronically through the EDGAR system. The issuance of this Information Statement or any prospectus, offering circular, information memorandum, supplemental information statement, pricing circular and the offering and sale of Securities are not a waiver by the Bank or by any of its members, Governors, Directors, Alternates, officers or employees of any of the rights, immunities, privileges or exemptions conferred upon any of them by the Agreement, or by any statute, law or regulation of any member of the Bank or any political subdivision of any member, all of which are hereby expressly reserved. The Bank uses a unit of account (the “Unit of Account” or “UA”) equivalent to the IMF’s Special Drawing Right (SDR) as its reporting currency. The value of the SDR, which may vary from day to day, is currently computed daily in U.S. dollars by the IMF. Except as otherwise specified, all amounts in this Information Statement and any prospectus, offering circular, information memorandum, supplemental information statement or pricing supplement are expressed in UA. Currencies have been translated into UA at the rates of exchange used by the Bank and prevailing on the last day of the period presented. In certain instances, amounts in UA have also been presented in U.S. dollars at the conversion rates set forth below. Such presentations are made solely for convenience and should not be construed as a representation that the UA actually represents, has been or could be converted into U.S. dollars at these or any other rates. In recent years, there have been significant changes in the relative values of the U.S. dollar and the component currencies of the UA. The Bank makes no representation that would indicate that the U.S. dollar or any other currency accurately reflects the historical financial performance or present financial condition of the Bank. Exchange rates used by the Bank for converting UA into U.S. dollars are as follows: As at 31 December 2017 2016 2015 2014 2013 Rate of 1 UA = 1.42413 1.34433 1.38573 1.44881 1.54000 US$ 2 TABLE OF CONTENTS Information Statement ............................................................................................................................................. 1 Availability Of Information .................................................................................................................................... 2 Table Of Contents ................................................................................................................................................... 3 Summary Information ............................................................................................................................................. 4 The Bank ................................................................................................................................................................. 9 Membership Of Certain Countries .......................................................................................................................... 9 Governmental Approval Of Borrowings ................................................................................................................. 9 Capitalisation ......................................................................................................................................................... 10 Summary Statement Of Income And Expenses .................................................................................................... 15 Operations Of The Bank ....................................................................................................................................... 16 Administration Of The Bank ................................................................................................................................. 24 The Agreement Establishing The African Development Bank ............................................................................. 28 General Description Of The Securities ................................................................................................................. 29 Taxation................................................................................................................................................................. 29 Management Report Regarding The Effectiveness Of Internal Controls .............................................................. 30 Independent Auditor's Report Regarding The Effectiveness Of Internal Controls ............................................... 32 Financial Highlights For The Years 2017, 2016 and 2015.................................................................................... 34 Report Of The External Auditors and ADB Financial Statements ....................................................................... 37 Membership Of France ........................................................................................................................................ 119 Membership Of Germany .................................................................................................................................... 119 Membership Of Japan ......................................................................................................................................... 119 Membership Of Switzerland ............................................................................................................................... 119 Membership Of The United Kingdom ................................................................................................................ 119 Membership Of The United States Of America .................................................................................................. 120 LIST OF ABBREVIATIONS AND ACRONYMS ADB African Development Bank ADF African Development Fund CEAS Cumulative Exchange Adjustment on Subscriptions DAC Development Assistance Committee ECP Euro Commercial Programme EDGAR Electronic Data-Gathering, Analysis & Retrieval System GCI-IV Fourth General Capital Increase GCI-V Fifth General Capital Increase GCI-VI Sixth General Capital Increase GDIF Global Debt Issuance
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