The African Development Bank (AfDB) has introduced a new Development and Business Delivery Model (DBDM) to improve performance, accountability and streamline processes for faster loan disbursement on the continent.
The bank announced this in the January edition of its newsletter issued by its Nigeria Country Office in Abuja on Tuesday.
The newsletter said the introduction of the DBDM would usher in significant structural and procedural changes in the bank.
It said that the Nigeria Country Office would now be known as the Nigeria Country Department (RDNG) with effect from Jan. 1.
The newsletter stated that Nigeria would be the only AfDB country office with departmental status.
It said that the Nigeria Country Department would be the largest single office of the AfDB overseeing a portfolio of 6.1 billion dollars and dealing with 36 states of the federation, including the Federal Capital Territory.
“The DBDM is designed to enable the bank to deliver on its development priorities, the high fives (5s) to light up and power Africa, feed Africa, industrialise Africa, integrate Africa and improve the quality of life for the people of Africa.“
The bank said the DBDM would also move the bank closer to its clients and improve its work efficiency. (NAN)