Development Financing under Constraints, as the author himself
puts it, is 'aimed to recapitulate the spirit in which the African
Development Bank was founded, describe how it later functioned and why
it functioned the way it did'. The study is an excellent attempt to
highlight economic cooperation and integ¬ration and to discuss its
rationale in view of the given constraints. The main idea behind the
establishment of an institution, like the African Develop¬ment Bank
(ADB), was necessarily an 'all-African Investment Bank' to promote
development projects. The newly independent nations of Africa, lacking
as they are in the basic infrastructure, are beset with difficulties in
surviving as economically viable units. As such, the need for a pooling
of resources and for technical know-how is particularly
imperative
