News Column

Rwanda Welcomes African Development Bank Annual Meetings to Discuss Future of Africa

May 18, 2014



Rwanda will be hosting the 49th Annual Meetings for the African Development Bank (AfDB) and the 40th meetings of the African Development Fund (ADF) starting on Monday.

The 2014 Annual Meetings coincide with the celebrations of the institution's 50th Anniversary. The AfDB was established in 1964 to mobilize resources for the economic and social development of its Regional Member Countries (RMCs) by focusing on poverty reduction and promoting sustainable growth.

In a briefing with media, Finance Minister Claver Gatete said, "This year's meetings provide the opportunity to take stock and look forward, reflecting on the aspirations of Africans for the destiny of their continent. We have accomplished a lot but a lot remains to be done. That's why we need to continually assess progress and take action for the development of the continent and to able to compete globally."

The meetings will also review the African Development Bank's 2013 operations and its 2014 development funding portfolio, as well as the objectives for the African region in key areas such as regional integration and trade, infrastructure, private sector development, job creation, governance and green growth.

Speaking at this briefing, the Country Resident Representative of AfDB Mr. Negatu Makonnen said that the Bank is a longtime supporter of Rwanda's socioeconomic development. A total 98 operations amounting to USD 1.65billion comprised of loans and grants mainly invested in infrastructure development, covering both transport and energy, agriculture rural development, water and sanitation, human development and science and technology, private sector development including skills, enterprises and institutional development and providing general and sector budget support.

"The five year, the Bank country strategy paper for Rwanda, launched last year, is indeed aligned with the national mid to long-term agenda, notably; - the EDPRS (Say; Economic Development and Poverty Reduction Strategy) and Vision 2020. The current active portfolio is close to a half billion US dollar mark and is mainly focused on infrastructure development, contributing to the economic transformation of Rwanda," Negatu said.

A series of high-level seminars and events will address the global economy, the continent's economic, social and political issues, and seek solutions to ensure a better future for Africans. The meetings will go beyond reflecting on the Vision for Africa's future to discuss the role and the kind of leadership needed - in all spheres of society, to make Africa a prosperous continent, based on development that is inclusive and sustainable.

The event will bring together approximately 3,000 delegates from Africa and the world; including high level participants such as Heads of State, Finance Ministers and Central Bank Governors, representatives of multilateral finance institutions, development agencies, the private sector, non-governmental organizations, civil society and the media.

Find out which events will be live: http://www.afdb.org/en/annual-meetings-2014/multimedia/

Follow the conversation on Twitter #afdbam2014 @Rwandagov @AfDB_Group


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: AllAfrica


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters