News Column

Financiers Descend On Kigali

May 19, 2014

The African Development Bank (AfDB) Group Meetings begin today in Kigali.

This is also probably a proud moment for AfDB President Dr. Donald Kaberuka, who is a citizen of Rwanda.

About 2500 people representing multilateral finance institutions, development agencies, the private sector, non-governmental organizations, civil society and the media are taking part. This is the 49th round of meetings.

"We are honored to host this event which has come in during the 20th Commemoration of the Genocide against the Tutsi and is a testimony of the country's long standing cooperation with the bank," Rwanda Minister of Finance and Economic Planning Amb. Claver Gatete said in a statement last week.

The AfDB meetings will also attract several Heads of State, Central Bank Governors, and Finance Ministers from all the 78 member countries of the bank group. Recently Kaberuka was in Luxembourg to welcome that country into the AfDB fold.

A leading talking point is expected to be the role of banks in construction of a new Africa.

A Governors' Dialogue organized for Central Bank Governors and Finance Ministers will explore ways and means for realization of Africa's vision of integrated, people-centered, prosperous Africa at peace with itself according to a statement from the AfDB.

This dialogue will look at the four critical issues that must be addressed to bring sustainable change that meets the aspiration of majority of Africans and their partners which are job creation, regional integration, issues related to conflict and fragility plus strategic policy leadership.

Minister Gatete said AfDB has continued to support Rwanda since 1974 and therefore has been central to the country's economic recovery. "The bank's interventions in agriculture, infrastructure, rural development and human capital development have contributed to the country's structural transformation efforts," he said.

"AfDB is proud to be part of Rwanda's economic transformation process and the 10-years strategy is very relevant to what Rwanda is trying to achieve, which is inclusive growth and ensuring that such growth is sustainable through a gradual transition to green growth and a robust human capital development," Dr. Donald Kaberuka the Bank's president said according to the same statement.

AfDB has dedicated over $400million to Rwanda which is meant to help the country realize Vision 2020 that aims at transforming the country into a middle income economy by improving competitiveness while ensuring unity and inclusive growth and development.

AfDB therefore contributes to sectors of sanitation, transport agriculture, private development and education which seek to ensure that Rwanda achieves its development goals.

In this meeting, the bank will again be celebrating its 50th anniversary with a theme "The next 50 year, the Africa we want".

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Source: AllAfrica

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