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.
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About the author
Jenny Lei Ravelo@JennyLeiRavelo
Jenny Lei Ravelo is a Devex Senior Reporter based in Manila. She covers global health, with a particular focus on the World Health Organization, and other development and humanitarian aid trends in Asia Pacific. Prior to Devex, she wrote for ABS-CBN, one of the largest broadcasting networks in the Philippines, and was a copy editor for various international scientific journals. She received her journalism degree from the University of Santo Tomas.
