President Adesina’s first official visit to Algeria aims to boost ties

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The President of the African Development Bank (AfDB), Akinwumi Adesina, arrives in Algiers today, Tuesday, April 19, for a two-day official visit. His visit comes on the heels of his participation in the World Bank-IMF Spring Meetings in Washington.

This is Adesina’s first visit to Algeria since he took office on September 1, 2015. His programme includes several meetings with senior representatives of the Algerian Government.

In addition to the Algerian Prime Minister, Abdelmalek Sellal, Adesina will meet the Minister of Finance, Abderrahmane Benkhalfa, who is also a member of the Board of Governors of the AfDB, the institution’s highest governing body.

President Adesina is expected to hold talks with the Governor of the Bank of Algeria, Mohammed Laksaci, as well as business leaders and representatives of Algeria’s private sector.

The President’s visit illustrates the Bank’s support for Algeria. Discussions will focus on how to strengthen and renew this historic partnership, propelling the country in its quest to pursue reforms to diversify and transform its economy, thus creating more jobs and wealth.

President Adesina will be accompanied by the Vice-President in charge of operations, Janvier Litse; the AfDB Executive Director for Algeria, Madagascar and Guinea-Bissau, Soraya Mellali; the North Africa Regional Director, Jacob Kolster; and Chief Country Economist, Vincent Castel. A team from the AfDB Office in Algeria, will also be present, led by the Resident Representative, Boubakar Traoré.

Algeria is a founding member of the AfDB, and the fourth-biggest African shareholder with 4.21% of the Bank’s capital. The country is a major player in North Africa and the Sahel.

As at April 1, 2016, the active portfolio of the AfDB in Algeria included ten operations with a total value of approximately US $9 million, nine of which are funded by the Middle Income Country Technical Assistance Fund (MIC TAF).