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  • The African Development Bank was created on 4 August ______ in Khartoum, Sudan, where 23 newly independent African countries signed the Agreement establishing the institution. #161
  • On 10 September 1964, the Agreement came into force when 20 member countries subscribed to 65% of the Bank’s capital stock which then stood at US$ ______ million. #162
  • The inaugural meeting of the Board of Governors (mostly finance ministers) was held from 4-7 November ________ in Lagos, Nigeria. #163
  • The headquarters of the AfDB was opened in ___________. #164
  • The AfDB commenced operations in July __________ with ten staff members. When the Bank was established, only independent African countries were eligible to be shareholders. #165
  • Thus, for 19 years, the AfDB depended on _________ countries for its capital resources. #166
  • In __________, the Bank’s capital was opened to non-African Countries. #167
  • The Agreement establishing the ______________ was signed on 29 November 1972, by the African Development Bank and 13 non-regional countries (State Participants). #168
  • The Nigeria Trust Fund was set up in 1976 by agreement signed between the Government of the Federal Republic of __________ and the Bank Group. #169
  • Which of the following statements is correct? #170
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