AfDB endorses temporary relocation period of three years  

AfDB endorses temporary relocation period of three years  
Hauwa Noroh, Abuja

Governors representing 53 regional and 24 non-regional African Development Bank (AfDB) member countries have endorsed the decision of the Governors Consultative Committee (GCC) that the Bank´s temporary relocation period in Tunis shall be for a period of three years.

The decision was reached at the forty-sixth annual meeting of the African Development Bank (AfDB) and the thirty-seventh meeting of the African Development Fund (ADF).

Relocation notice

The meeting concluded that there would be a 12-month notice period after the Governors have taken a final decision to return to its headquarters in Cote d´Ivoire.

The Bank relocated to Tunisia in 2003 following the conflict in Cote d´Ívoire, which remains the statutory headquarters.

The governors – usually composed of member states´ Finance and Economy Ministers or Central Bank Governors and CEOs - also resolved that the 2012 annual meetings would take place in Arusha, Tanzania from 31 May to 1 June, and in Marrakech, Morocco, from 30-31 May 2013.

The two-day meeting, which was held in Lisbon, Portugal, also approved the group’s Annual Report and audited accounts for the year ended 31 December 2010.

This year´s Annual Meetings centred on a central theme: “Towards an agenda for inclusive growth in Africa”.

The financial statements showed that the Bank Group approved 139 operations totalling over six billion dollars (UA 4.10 billion) during the year in review, an indication of its return to normal operations following the upswing recorded in 2009 in response to financing demands from African countries following the economic crisis.

Financing indebted countries

The meetings deliberated on a number of issues. These include the thirteenth GCC meeting report, an update on the implementation and financing of the heavily indebted Poor Country (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI); as well as the report of the Independent review mechanism.

Others were on the New Partnership for Africa´s Development (NEPAD) and water sector activities.  

The Governors endorsed the bye-elections of two Executive Directors – Ms. Margit Thomsen of Denmark representing her country as well as Finland, India, Norway, and Sweden; and Mr. Francois Kruger representing his country, France and Belgium, and Spain.

The year’s meetings included the Governors’ Dialogue Sessions on current development issues, High-Level Seminars and side events that focused on and reinforcing the central theme of shared and inclusive development and growth.

The meeting formally opened with a colorful ceremony at Lisbon Congress Centre, with speeches delivered by AfDB President, Donald Kaberuka, who emphasized on the need to promote growth that would benefit everyone.

Other speakers include the Portuguese Minister of State for External Affairs, Luis Amado, the Board of Governor’s Chair for Portugal, Fernando Teixera dos Santos, the Executive Secretary of the UN Economic Commission for Africa, Abdoulie Janneh, and the Bank´s Secretary-General, Ms Cecilia Akintomide

Williams