African Development Bank - Foreign Exchange ControlsAfDB - Foreign Exchange
The AfDB Group recognizes Article XIV of the Articles of Agreement of the International Monetary Fund, which allows countries to maintain restrictions on payments and transfers for international transactions in order to promote a stable exchange rate for the settlement of the country’s balance of payments.
PROJECT PROCUREMENT
Payments to or from countries that implement foreign exchange controls will be subject to controls. To learn about foreign exchange controls in countries of interest to your firm see the “Foreign Exchange Controls” section of each country’s Country Commercial Guide.
CORPORATE PROCUREMENT
The AfDB Group itself procures consulting and advisory services. Payments made by the AfDB Group are directly to the consultant, thus foreign exchange controls do not apply.
PRIVATE SECTOR SOLUTIONS
Private Sector Department activities through the AfDB involve a number of different instruments, which include lending and non-lending services. Lending activities can include focused efforts on Industries & Services, Public-Private Partnerships (PPPs) & Infrastructure. Non-lending activities can include studies, initiatives, and new programs. When considering involvement in a Private Sector Department-supported project, U.S. firms should take care to ensure that foreign exchange controls of the host country will not prevent host country entities from meeting foreign currency liabilities, or prevent foreign entities from repatriating profits.
PROJECT PROCUREMENT
Payments to or from countries that implement foreign exchange controls will be subject to controls. To learn about foreign exchange controls in countries of interest to your firm see the “Foreign Exchange Controls” section of each country’s Country Commercial Guide.
CORPORATE PROCUREMENT
The AfDB Group itself procures consulting and advisory services. Payments made by the AfDB Group are directly to the consultant, thus foreign exchange controls do not apply.
PRIVATE SECTOR SOLUTIONS
Private Sector Department activities through the AfDB involve a number of different instruments, which include lending and non-lending services. Lending activities can include focused efforts on Industries & Services, Public-Private Partnerships (PPPs) & Infrastructure. Non-lending activities can include studies, initiatives, and new programs. When considering involvement in a Private Sector Department-supported project, U.S. firms should take care to ensure that foreign exchange controls of the host country will not prevent host country entities from meeting foreign currency liabilities, or prevent foreign entities from repatriating profits.