African Development Bank President Donald Kaberuka highlighted some of the bank’s priorities in the coming months ahead of the conclusion of the institution’s annual meeting on Friday in Marrakech, Morrocco.
In his speech titled ”Africa’s Hour: Seizing the Moment,” Kaberuka talked about the implementation of the bank’s 10-year strategy, whose priorities include infrastructure and private sector development, improving government transparency matched with good governance, and regional integration.
In a live debate on Thursday, Rwandan President Paul Kagame was quoted as saying: “Why do we ask so many questions about our relationship with the rest of the world, and so few about how little we have to do with each other?”
Kaberuka likewise mentioned the work that lies ahead in securing funding for the African Development Fund, the bank’s window for providing loans and grants to regional member countries for infrastructure, governance and regional integration projects. The ADF is set for a fourth replenishment this year.
“The Fund has proven its worth. Its track record is a very credible one. From the fragile states with particular needs, to regional integration, to leveraging the private sector, the Fund has done a remarkable job […] As we look to concluding the 13th ADF replenishment, let us work together to make the Fund even stronger,” he said.
Kaberuka also announced the bank’s impending return to its headquarters in Abidjan, the former Ivorian capital. The bank’s governors approved the roadmap for this purpose on Thursday, but the relocation needs to ensure uninterrupted bank operations and staff security.
“If all goes well, next year – 2014 – we will celebrate our 50th Anniversary back at our headquarters in Abidjan,” he noted.
Read more development aid news online, and subscribe to The Development Newswire to receive top international development headlines from the world’s leading donors, news sources and opinion leaders — emailed to you FREE every business day.