Highlights of AfDB/ADF Board Meetings

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17-Nov-2017

Highlights – Board Meeting of 11 October 2017

The Board noted that the new CSP 2017-2021 is built on two strategic pillars: (i) development of agricultural and agro-industrial value chains; and (ii) strengthening of competitiveness and regional integration support infrastructure. Executive Directors expressed support for the strategy and welcomed the opening of the Benin country office, which will accelerate the implementation of the operations under this CSP. They emphasized the importance for the Bank to play the role of donor coordination in the country and raised the issue of debt sustainability. Executive Directors also requested...
17-Nov-2017

Highlights – Board Meeting of 25 October 2017

13-Oct-2017

Highlights - Board meeting of 05 July 2017

In his Opening Statement, the Senior Vice President recalled the passing on of Dr. Tonia KANDIERO, the Bank Group’s Director General in charge of the South African Regional Office and called for a minute of silence in honour of the departed. In conjunction with the Dean of Executive Directors, he also welcomed the Executive Director representing Côte d’Ivoire, Equatorial Guinea and Guinea, Mr; Moussa DOSSO, who was attending the Board meeting for the first time, following his recent assumption of duty in the Bank.
13-Oct-2017

Highlights - Board meeting of 20 September 2017

Board members discussed the above-mentioned document at length and, among other things, requested Management to ensure that: (a) the creation of a Country Economics Department (ECCE) results in an improvement in the analytical quality of country strategies and policy advice to Regional Member Countries (RMCs), (b) the relocation of some Non-Sovereign Operations (NSOs) from regional offices to Sector Complexes does not compromise the Bank’s decentralization program, and (c) the proposed restructuring will stay within the approved budget for 2017. They also called on Management to amend the...
26-Sep-2017

Highlights - Board meeting of 19 October 2016

The Board welcomed the document under review and took note of the two strategic pillars retained, namely : (i) development of inclusive growth and agribusiness competitiveness poles; and (ii) support for financial, sectoral and local governance. Executive Directors, however, pointed out the governance and capacity problems encountered by Togo and emphasised that the resources available was not adequate to meet the level of ambition. In that regard, they invited Management to be selective in developing the project pipeline and explore the opportunities offered by the private sector in order to...
26-Sep-2017

Highlights - Board meeting of 02 November 2016

The Interim Country Strategy Paper for Algeria presents the strategic framework of the Bank’s financial re-engagement in Algeria with emphasis on two main strategic Pillars. Pillar 1 focuses on support for industrialization, improvement of competitiveness and development of value chains; and, Pillar 2 on the support for transformation of the energy sector. The Board expressed full support for the proposed pillars and unanimously welcomed Algeria’s re-engagement and interest in a renewed borrowing relationship with the Bank to enable diversification of the Algerian economy and promote job...
26-Sep-2017

Highlights - Board meeting of 09 November 2016

The Africa Integrity Fund seeks to extend grants to eligible recipients for financing measures to reduce the prevalence and impact of prohibited practices and illicit financial outflows in the Bank Group’s RMCs, strengthen transparency and accountability in the management of public resources, and support knowledge creation and dissemination, through the reinforcement of core priorities, particularly the prevention, detection, investigation and the sanctioning process. Board Members welcomed the proposal and urged Management to ensure that the operational guidelines, administrative structure,...
26-Sep-2017

Highlights - Board meeting of 16 November 2016

Board members expressed broad support for the project given its expected development impact, the realistic tariff structure and the adoption of the new streamlined project development process. However, they emphasised that, during the implementation process, Management should take steps to: i) build the capacity of the implementation agency, la Société Côte d’Ivoire Energies; ii) strengthen the climate change mitigation measures; and iii) scale up the amount of jobs to be created especially for women. They expressed the need for an independent regulatory authority to defend the interest of...
26-Sep-2017

Highlights - Board meeting of 18 November 2016

Board members noted that the proposed project aims to support the lending programs of the Diamond Trust Bank Kenya Limited for small and medium-sized enterprises and large corporate clients from the transformation sectors of the Kenyan economy, and also support the expansion strategy of the country's economy. The Board welcomed, inter alia, the proposal to extend lending programs to other countries, noting that it is in line with "Integrating Africa", one of the Bank's five priority areas; and requested that the proposal be accompanied by a clear action plan. Members stressed the need to...
26-Sep-2017

Highlights - Board meeting of 23 November 2016

The Board welcomed the proposed CSP for Rwanda and its two pillars namely: investing in energy and water infrastructure; and developing skills to promote high value added economic activities and economic transformation. Board members commended Rwanda for good economic transformation performance. They emphasised the importance of stronger coordination and collaboration with other development partners; the role of the private sector; and support to the informal sector for greater inclusiveness, as well as the reflection of the objectives in the result Measurement framework. At the end of the...
26-Sep-2017

Highlights - Board meeting of 25 November 2016

The aim of the above-mentioned document was to inform the Board of Directors of the impact that the inclusion of the Chinese Renminbi (RMB) in the Special Drawing Rights (SDR) basket will have on the Bank’s Asset and Liability Management (ALM) practices. The document also proposed the option to offer the RMB as a disbursement currency for the Fund.
26-Sep-2017

Highlights - Board meeting of 07 December 2016

The above mentioned project concerns an equity participation of the African Development Bank in the African Domestic Bond Fund. The project aims to create an Exchange Traded Fund (ETF), investing in local currency bonds on the African continent. The Board welcomed the proposed project and noted its importance in contributing to the development of domestic financial markets in Africa and strengthening domestic resource mobilisation. Board members stressed the importance of an exit strategy and the need to provide technical assistance to countries in view of addressing debt sustainability risks...
26-Sep-2017

Highlights - Board meeting of 09 December 2016

The Board noted that the project under review seeks to contribute to the improvement of Youth employability and the strengthening of social inclusion by leveraging national funding and other partners. Board members commended Management for the project which responds to the problem of the mismatch between training and employment needs in Gabon and seeks to significantly resolve the problem of unemployment. Board members recommended that more focus be placed on transformational projects in the agriculture, ICT and SME sectors and urged Management to pay particular attention to country ownership...
26-Sep-2017

Highlights - Board meeting of 13 December 2016

Board members noted that the proposed project seeks to improve the management of public finance, increase the viability of power supply and improve the business environment. Board members welcomed the strong commitment of the Government to carry out the envisaged reforms, the progress recorded in actual implementation and the smooth coordination between the MDBS working in the country and the Government. They then recommended that special attention be paid to inclusive growth by ensuring the participation of all components of the Civil Society, to the reduction of gender inequality and the...
26-Sep-2017

Highlights - Board meeting of 14 December 2016

The proposed 2017 Borrowing Programme seeks to: (i) provide cost-effective resources to finance development projects and programs in regional member countries in line with the Bank’s 10-year strategy and the High 5s, and (ii) ensure that the Bank has sufficient liquidity to meet its cash flow requirements and comply with the institution’s liquidity policy. Board members welcomed the proposal and commended the team for the quality of the document. They recalled the need to find the right balance between the Bank’s mandate and the sustainability of its operations, particularly non-sovereign...
26-Sep-2017

Highlights - Board meeting of 16 December 2016

President of the Bank Group, Dr. Akinwumi Adesina, opened the meeting and extended a warm welcome to Board members and Management. He then welcomed the progress made in 2016 and thanked the Board of Directors for the work being done, including approval of 4 of the 5 new strategies, the New Development and Business Delivery Model (DBDM) and the new loan pricing. He pointed out that the work on decentralization is progressing well and that the adoption of the new remuneration framework has made the Bank more competitive. The Presidential Directive on disbursement has reduced project turnaround...
26-Sep-2017

Highlights - Board meeting of 11 January 2017

The President of the Bank Group expressed his New Year’s wishes to the Board members and Management. He then presented a report on the Board achievements for the past year and commended the Board and Management for their dedication, hard work and support, which enabled the Bank to achieve historical results, especially with disbursements and contribution to job creation on the continent. He also informed the Executive Directors about the implementation of the new structure in the Bank’s main systems. In addition, President Adesina outlined the actions that will be undertaken in 2017 to...
26-Sep-2017

Highlights - Board meeting of 25 January 2017

The President informed Board members that Mr. Amadou KONE has been appointed Minister of Infrastructure and Transport of Côte d'Ivoire and Mr. TSE would now serve as Dean of the Board. The Board also agreed to hold a technical session on 27 January 2017 to consider the proposal to grant an emergency credit facility to the Company for Habitat and Housing in Africa (Shelter Afrique).
26-Sep-2017

Highlights - Board meeting of 30 January 2017

Board members noted that the present proposal concerns a credit facility to be drawn down immediately for the Company for Habitat and Housing in Africa (SHAF/Shelter Afrique/the Company). The facility will enable the Corporation to continue its mission of addressing the critical shortage of adequate housing in Africa. Board members, noted the urgency and necessity of the proposed facility and the implications of each of the three possible scenarios (doing nothing, an emergency credit facility of $ 20 million, or a $ 20 million emergency credit facility with a reserved credit facility of $ 60...
26-Sep-2017

Highlights - Board meeting of 1st February 2017

The Board noted that the above-mentioned project aims to contribute to the internal and external opening up of the country, the strengthening of social cohesion to support economic activities and improve the living conditions of the populations; and accessibility to production areas, social, administrative and commercial infrastructures. The Board welcomed the project and recognized its additionality in terms of development. It, however, stressed that given the country's fragile situation, the Bank should adapt its approach to the realities on the ground. Executive Directors also expressed...