African Development Foundation Act

[AI summary unavailable — showing source text] African Development Foundation Act - Amends the Foreign Assistance Act of 1961 to establish the African Development Foundation to strengthen the bonds of friendship between the people of Africa and the United States and to assist in the development of Africa. Requires such Foundation to cooperate with indigenous organizations representative of Africa and other private, regional, and international organizations. Authorizes such Foundation to make grants, loans, and loan guarantees to African entities for developmental purposes. Requires the Foundation to give priority to community self-help projects with the maximum feasible participation of the poor. Sets forth the corporate powers of such Foundation. Provides for the appointment of a Board of Directors to manage such Foundation. Requires the Board to consult with a Council composed of individuals knowledgeable about development activities in Africa.…