የአፍሪካ ልማት ባንክ 25ኛ ዓመት

25th Anniversary of the African Development Bank

Bogale Belachew

Stamp Info

Stamp ID: 1258

Size:
30X40 mm

Quantity:
100,000

Date of Issue:
November 10, 1989

Denominations:
Birr 0.20, 0.80, 1.00

Process of Printing:
Lithography in Four colors

Printed by:
Thomas De La Rue- England

Stamp Introduction

First Day Covers are available at Addis Ababa General Post Office and its branches, Adigrat, Akaki, Arba Minch, Assela, Awasa, Axum, Bahir- Dar, Kebre-Mengist, Debre-Berhan, Debre-Marikos, Debre-Zeit, Dembi-Dolo, Hossana, Dessie, Dilla, Dire Dawa, Fitche, Gambella, Ghion, Ginnir, Robe Bale, Jinka, Gondar, Gore, Harrar, Jijiga, Jimma, Mekele, Mettu, Hagere-Hiwot, Hirna, Nazareth, Negele Borena, Nekemte, Shashemene, Wolaita-Sodo, Assebe Teferi and Yirgalem Post Offices on the day of issue.

Orders for stamps and F.D. Cs (in advance payment) to the Ethiopian postal Service, Phil-atelic section Post Box 1112 Addis Ababa Ethiopia or to Philatelic Agencies of the peoples Democratic Republic of Ethiopia. Les Editions Rodan Ch. de Waterloo Stwg. 868-870 1180 Brussels Belgium for Europe, British Isles and the Commonwealth or stamp Values P.O. Box 4107 Grand Central Post office 460 west 34th Street New York City N. Y 10001 U.S.A. for North Central and South America

The African Development Bank which was established in 1964 celebrated its 25^th anniversary in May 1989. The Bank presently comprises 73 member Countries among which 50 are independent African states.

It began operations in 1967 with an initial Capital of U.S. $ 325 million which was subscribed to by only independent African countries. ‘Given the increasing resource needs of the African countries to meet their social and. economic growth requirements, it was decided to substantially expand the resource base of the bank by admitting developed countries to the membership of the bank in view of the economic difficulties of many African countries.

The bank continues to give top priority to productive sectors including agriculture and. industries. Over the past three years, it has diversified its traditional lending operations into non-project and policy based activities.

Concerning African’s external debt, the bank since 1985, has undertaken to foster a better understanding of the problem and has formulated a debt refinancing formula specifically designed to alleviate Africa’s debt service difficulties and ensure a healthy mobilization of resources for economic recovery and growth by reducing or eliminating the entire stock of debt.

Other initiatives by the bank include efforts to promote the private sector enterprise in Africa. So far as environment, trade promotion and women in development are concerned, the bank has undertaken several initiatives which it is hoped will help increase the productive capacity of our countries.