East African Development Bank


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East African Development Bank

A bank that was established in order to promote growth in East Africa. Among other things, it provides loans and other forms of financial assistance for projects thought to contribute to African development. It was established in 1967 by the East African Community and re-chartered in 1980 as an independent entity. It maintains its headquarters in Uganda.
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The Uganda Securities Exchange, up until the flotation of Uganda Clay, offered only one financial instrument for trading - a bond issued by the East African Development Bank. The Dar es Salaam Exchange had another single listing, the government-owned Tanzania Oxygen Limited (TOL), bringing the market's total capitalisation to about $10m, one of the world's smallest.
The Central Bank of Kenya is coordinating all funding via 10 leading banks and financial institutions: Algemene Bank Nederland Amro Bank, Barclays Bank, Consolidated Bank, Development Finance Company of Kenya, the East African Development Bank, Industrial Development Bank, the Kenya Commercial Bank, Kenya Equity Management Limited, the National Bank of Kenya Limited.
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