Board of Governors
The Boards of Governors considered the key elements of Structural Transformation and Natural Resource Management in Africa, and endorsed the concept of an African Infrastructure Financing Facility.
The 2013 Annual Meetings of the Boards of Governors of the African Development Bank and of the Africa Development Fund were held in Marrakech, Morocco from May 27 to 31, 2013 on the theme, Africa’s Structural Transformation, which was highlighted during several of the sessions. The Governor’s Dialogue examined the modalities of structural transformation and natural resource management in Africa, and the key elements needed to attain that objective. The Dialogue broadened the discussion to all natural resources. The Governors emphasized good governance, generally and in natural resource management in particular, including bold fiscal measures and aggressive investment in human capital and infrastructure, as key prerequisites for structural transformation. With regard to funding Africa’s transformation, Governors welcomed the Bank’s initiative to create Africa50 to finance Africa’s infrastructure, and encouraged the Bank Group to work out the financial and regulatory details of the initiative for its work to begin as soon as possible.
The Board of Governors approved the Roadmap and adopted the resolution for the return of the African Development Bank to its Headquarters, as well as other recommendations of the Governors’ Consultative Committee. Its recommendations urged close collaboration between the two host countries, Côte d’Ivoire and Tunisia, in implementing the Roadmap, and the examination of the Business Continuity Plan of the Bank, including any changes in security alert levels, which might have an impact on the process. The Board of Governors also took note of the Roadmap’s monitoring and evaluation framework and the budget for its implementation. The Board of Governors emphasized the importance of carefully managing the period of transition, bearing in mind the need to ensure the security and welfare of staff and their families and to minimize disruptions to Bank Group operations.
Other resolutions by the Boards of Governors related to the adoption of the following:
- The Annual Reports and Audited Financial Statements for the ADB and the ADF for the Financial Year ended December 2012; and
- The dates and venues for the Annual Meetings of the ADB and ADF for 2014, 2015 and 2016, respectively.