African development bank searches for new location

Published May 23rd, 2001 - 02:00 GMT

Due to deteriorating security conditions along the Ivory Coast, the African Development Bank has decided to transfer it’s headquarters from the region, reports London based Al-Hayat


Until now, three North African states have agreed to host the bank’s headquarters—those being, Egypt, Tunisia and Morocco. The bank’s Representative Committee recently visited the three candidate countries in order to evaluate potential locations and facilities for the new headquarters. A final decision regarding the move will be made by June 2001.  


The bank, founded in 1966, is currently comprised of 53 independent African states and 24 non-African states. –(MENA Report)  

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