AfDB Wins “Prix d'Excellence Afrique Expansion 2009”

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From: 05/10/2009
To: 07/10/2009
Location: Montreal, Canada
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Tunis, 14 October 2009 - The African Development Bank (AfDB) has been awarded the Afrique Expansion 2009 Excellence Award in recognition of its significant contribution to private sector development on the continent.

The award was given by a Canada-based Magazine, Magazine Afrique Expansion, during the 4th edition of the Forum Africa, an event organized in collaboration with the African Business Roundtable (ABR) and the Canadian Council for Africa (CC Africa). The event was held in Montreal from October 5-7, 2009.

Some 300 participants, entrepreneurs, politicians and leaders of public and private sector organizations participated in the biennial event held on the theme: "Investment and partnerships for sustainable development in Africa."

Receiving the award on behalf of the AfDB and its President, Douglas Barnett, lead specialist in the Private Sector Department, noted the increasing role of the private sector in sustainable development and poverty alleviation in Africa. "The AfDB addresses the development of the private sector using two main approaches, helping African governments creating an environment more favorable to the private sector and creating a catalytic effect by providing assistance to entrepreneurs in specific transactions, particularly in the areas of infrastructure, industries and services and financial intermediation services."

AfDB Private Sector Operations reached over 1,5 billion dollars in 2008. Financial intermediation accounted for the largest share of approvals (50%), followed by industry (31%), infrastructure (14%), agriculture (3%) and multi-sector (2%).