African Development Bank President Donald Kaberuka has unveiled plans to enhance the multilateral lender’s transparency, financial strength and capacity to address new demands from African nations on issues such as climate change. The move is part of AfDB’s pledge to improve its operations, particularly in decentralization.
As a measure to enhance AfDB’s transparency, the bank’s heads of departments will be held accountable for implementing a policy on information disclosure, Kaberuka said at a May 11 briefing meeting. The annual evaluation of bank directors will include key performance indicators concerning the communications effort of their departments.
AfDB’s information disclosure policy is currently being revised to increase the scope of information that can be disseminated. The policy stipulates that “all information on Bank activities and operations will be released, unless there are compelling reasons not to do so.”
The regional lender has completed the review of its loan pricing, the AfDB chief announced. The new policy on loan pricing, which will take effect on Jan. 1, covers a series of measures to integrate more consistent institutional goals such as the bank’s cooperative nature, maintenance of financial strength and assurance of competitive rates for borrowers.
The bank also now has a new department of energy, environment and climate change in anticipation of the significant impact of infrastructure development on the climate. The new department, which is under the vice presidency for infrastructure, private sector and regional integration, will incorporate environmental and climate change issues in the bank’s operations. Hela Cheikhrouhou will serve as director of this new department.
Aside from Cheikhrouhou, two other women were appointed to senior posts at AfDB. Kaberuka confirmed Cecilia Akintomide as the bank’s secretary general and Gemina Archer-Davies as director of corporate human resources management.