About the Book
The multilateral banks are powerful forces in the international community, providing loans of more than $250 billion to developing countries over the last halfcentury. The best known of these, the World Bank, has been studied extensively, but the 'regional development banks' are little understood, even within their own geographic regions. This series looks specifically at the policies and projects of the various regional development banks, which like the World Bank, have recently come under growing criticism from grassroots organizations, environmental groups and others. In the course of the past decade, the majority of countries in Africa have undergone rigorous structural adjustment and monetary liberalization. When the African Development Bank was created, and for a greater part of the Bank's history, the present tolerant political regimes, and the liberal macroeconomic and development environments did not exist. The Bank has had to operate as best it could in a politically unstable setting and among stagnant and declining regimes.
It is because such problems face the bank that this book is of great value to both African and non-African investors in the Bank, as well as all Africans. The banks operational and policy shortcomings are clearly described and analysed, and every major point in the book has been dispassionately made on the basis of thorough research or from the wealth of experience of the authors.
Table of Contents:
List of Tables vii Foreword, Jonathan H. Frimpong-Ansah ix Preface, Roy Culpeper xi Acknowledgments xiii List of Acronyms xv 1 Introduction 1 Governance and the Governed, 1 Lending a Hand, 3 Country Case Studies, 5 Mobilizing and Managing Money, 6 Crosscutting Issues, 7 The Way Ahead, 9 Part 1 Historical Setting and Record of Performance 2 History in the Making 19 A Cautious Change of Heart, 20 Internal Politics, 22 Moving Money, 24 The African Development Bank Group Today, 27 A Continent in Crisis, 29 Literature Review, 32 3 Governance and the Governed 39 Board of Governors, 39 Board of Directors, 40 Presidency, 45 Vice-Presidencies, 47 Grappling with Governance, 48 Staff, 51 Conclusions, 58 4 Lending a Hand: Projects and Programs 63 Overall Resource Flows, 64 Geographical Distribution, 68 Sectoral Allocation, 71 Vi CONTENTS Country Programming, 74 Policy-Based Lending, 76 Project Lending, 82 Quest for Quality, 89 5 Country Case Studies: A View from the Field 95 Kenya, 95 Mali, 201 Egypt, 108 Case Study Conclusions, 113 Part 2 Development Agenda 6 Mobilizing and Managing Money 117 Resource Mobilization, 227 Bank Subscriptions, 117 ADF Contributions and Special Funds, 119 Borrowing from Governments and Capital Markets, 229 Future Needs and Prospects, 222 Financial Policies, 223 Conclusions, 236 7 Crosscutting Issues: A Full Agenda 141 The African Debt Problem, 242 The Nature of African Debt, 243 Debt Relief Initiatives, 244 The ADB Group Response, 246 Regional Integration, 249 The Private Sector, 153 Environment, Gender, and Poverty, 257 Governance, 265 An Emerging Pattern, 269 8 The Way Ahead 175 The Basic Building Blocks: Projects and Personnel, 276 The Engineers and Architects: Management and the Board, 279 Paying the Bills: Mobilizing and Managing Money, 282 The Blueprint: Bank Strategy, 284 Appendix 195 Bibliography 199 Index 203 About the Book and Authors 213
About the Author :
E. Philip English is a Washington, D.C.-based economist, having worked at both the North-South Institute and the International Development Research Centre in Ottawa, Ontario. He worked at the African Development Bank from 1985 to 1988 Harris M. Mule was for fourteen years deputy permanent secretary and then permanent secretary in the Kenyan government's Ministry of Finance and Planning, and for a further five years in senior positions at the International Fund for Agricultural Development.
