AfDB Re-elects Kaberuka, OKs Capital Hike

Donald Kaberuka will serve his second term as president of the African Development Bank. Photo by: Aly Ramji / Mediapix

Donald Kaberuka has won a second term as president of the African Development Bank. The bank’s board of governors approved Kaberuka’s re-election on May 27.

“We will strive to meet the expectations of African people. We will work to achieve regional integration, fight against climate change and ensure food security,” Kaberuka said.

The board has also endorsed the bank’s capital increase, tripling AfDB resources to nearly USD100 billion. This will enable the regional lender to maintain a higher level of lending in order to meet increased demand from member countries reeling from the financial crisis.

Meanwhile, the Africa Progress Report 2010 urges African nations to invest in climate-proofing their economies and development agendas, as well as promoting women’s welfare.

The report, launched May 26 in the run-up to AfDB’s annual meetings, notes that the continent made strides in promoting development albeit governance challenges.

Graca Machel of the Africa Progress Panel, which put together the report, urged African leaders to address hunger, lack of access to education for more than 15 million children in the region, inadequate investment in agriculture and energy, and corruption. 

About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.