AfDB Group Annual Meetings Come to an End in Lisbon

10/06/2011
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Approvals

  • 2010 Annual Report
  • 3-year temporary relocation period
  • 2012 Annual Meetings in Arusha, Tanzania
  • 2013 Annual Meetings in Marrakech, Morocco

The 46th Annual Meetings of the African Development Bank (AfDB) and the 37th  Meetings of the African Development Fund (ADF), formally came to an end on Friday, 10 June 2011 in Lisbon, Portugal, after two days of deliberations and the approval of the Group´s Annual Report and audited accounts for the year ended 31 December 2010.

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

Governors representing 53 regional and 24 non-regional member countries 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. There would be a 12-month notice period after the Governors take 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 bank's 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 May to 31 May 2013.

The financial statements showed that the Bank Group approved 139 operations totaling over USD 6 billion (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.

The meetings deliberated on a number of issues. These included the 13th 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 by-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 of 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 reinforced the central theme of shared and inclusive development and growth.

The meetings, formally opened with a colorful ceremony at the Lisbon Congress Centre on Thursday, with speeches delivered by the AfDB President, Donald Kaberuka, who emphasized 9 June 2011 on the need to promote growth that benefits everyone. Other speakers included the Portuguese Minister of State for External Affairs, Luis Amado, the Board of Governors 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.