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Establishment of an African Development Bank: resolution 27 (III) adopted by the Commission at its 50th plenary meeting on 16 February 1961

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Considering the capital needs of the ,;:'rican States for the exccu

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Original: FREliCH J<;/CN .14/RES/27 (III) 17 J'\,bruar-y 1961

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Resolution 27(11I) adopted by the C~~~ission at its 50th p'Lonary neeting on 16 F'ebruary 1961

The Eco!lomic CO:Jnissioll fg,!' .t~frica

ECO'lOH1C COl-IJ-lISSIOii YOh LFh1Ci.

Third session J\i'lfl

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of their eco~omic devclopncnt pro[rac1r1c by concertod action in the public and private sectors;

Belioving th~t s~ch actio~ r~quires, in addition to bilateral or nulti- lateral aid, the Ilvailability of long-torn credits at lcw rates of interest,

B81ievi~ that illl internationhl bank with rogional competence limited to ~frica would nDst these ~equirements:

ReguestQ the Executive c:ecretnry to urr.ertcko a thorough study of tte possibilities Gf establishing ~ ~rrican Development Bank aLd to report to the Cor1mission at its next sGssion~

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