On this day 62 years ago, on July 31, 1963 (June 11, 1963 lunar calendar), the African Development Bank decided to be established. On July 31, 1963, the Financial Conference of African Countries held in Khartoum passed an agreement and decided to establish the African Development Bank. It was officially established in September 1964. It started business in July 1966. The original provisions only admitted independent African countries as member states. In 1979, it was revised, and 21 non-regional countries including the United States, Japan, West Germany, Canada and France joined. In May 1985, there were 75 member states (including 54 African countries). Its purpose is to "help the African continent formulate an overall strategy", "coordinate the development plans of various countries", and provide funds for the economic and social development of member states in order to achieve "the integration of African economies". Formed the "African Development Bank Group" with four Financial Institutions Groups including the African Development Fund. By 1980, it had provided loans to African countries amounting to 2.50 billion US dollars.