Highlights of AfDB/ADF Board Meetings

17-Aug-2018

Highlights – Board Meeting of 27 juin 2018

Board members thanked Management for taking CODE’s comments and recommendations into account. They requested Management to work with the country on the issue of debt management and to consider the possibility technical assistance from the African Legal Support Facility (ALSF). The Board expressed support for the choice of the two pillars: infrastructure development and support for agricultural transformation and value chain development; and endorsed Management's decision to address the issue of governance in a crosscutting manner. Board members emphasized the need for coordination among other...
17-Aug-2018

Highlights – Board Meeting of 29 juin 2018

The Board noted that the above-mentioned operation involves obtaining an insurance cover of up to US$500 million as part of the balance sheet optimization exercise. The cover should lead to the possibility of freeing up adequate resources to create an additional headroom for new financing and address major exposure constraints by creating an additional 3% margin on the Bank's financial sector portfolio limit. The Board commended Management for the series of meetings and question-and-answer sessions as well as for the innovative nature of the proposal. They appreciated the fact that this...
15-Jun-2018

Highlights – Board Meeting of 9 May 2018

The Board noted that, based on the recommendations of the Auditor General’s Office, the spot-check advisory review of the Independent Review Mechanism will, for the year 2018, assess the implementation of the environmental and social management plan of three projects in Cameroon, namely: the potable water supply and sanitation project in semi-urban areas, the first phase of the KettaDjoum road rehabilitation project, and the Kumba-Mamfe road rehabilitation project. Board members questioned the criteria that justified the choice of the proposed projects. They recommended that, going forward,...
15-Jun-2018

Highlights – Board Meeting of 15 May 2018

Board members noted that the program under review is intended to contribute to the creation of sustainable jobs in rural areas in Morocco. They welcomed the programme as it will enhance the competitiveness of the agricultural sector through the promotion of value chains, the improvement of the business climate, and the sustainable management of natural resources. Executive Directors strongly supported the program and congratulated Management and the Moroccan authorities for the quality of its programs that will contribute to improving the living conditions of the populations in rural areas....
15-Jun-2018

Highlights – Board Meeting of 16 May 2018

The above-mentionned project is for a loan to Indorama Eleme in order to develop agricultural production through the efficient use of fertilizers. In addition to boost the Nigerian agriculture, this project aims to create employment and add value in a fragile region of the country. The Board pointed out that even though the Bank was not the main lender, this well structured project complied with the SDGs and was in line with the High 5s, especially Feed and Industrialize Africa. Board members would have liked Management to conduct further studies on the environmental impact, as well as a plan...
22-May-2018

Highlights – Board Meeting of 28 February 2018

The above-mentioned policy provides a framework to guide Bank Group staff on records management and archives to preserve the Bank Group’s vital records and institutional memory and improve timely access of the Bank Group records by all stakeholders. It also aims to improve the regulatory compliance of records through use of retention schedule and promotion of digital management of the Bank Group’s records, while supporting transparency and accountability in the most cost-effective way. Board Members commended staff for the timeliness of the policy and urged Management to focus more on...
22-May-2018

Highlights – Board Meeting of 7 March 2018

Board Members took note of the revised version of the above-mentioned document, which aims, inter alia, to support the AU Vision 2063 through the Bank's High-5s, strengthen infrastructure connectivity, increase linkages and market connectivity, and support financial integration and inclusion. The new version of the document takes into account the conclusions and recommendations of the CODE Committee meeting of 19 January 2018 as briefly recalled by ED Cudré-Mauroux, Vice-President of the Committee. Board members welcomed the pillars chosen, but called for particular emphasis on crosscutting...
22-May-2018

Highlights – Board Meeting of 27 March 2018

The Board considered the abovementioned proposal on an unfinanced Risk Participation Agreement between the Bank and Commerzbank. The Agreement aims to contribute to the reduction of the trade finance gap in Africa and to promote inclusive and diversified economic growth through increased intra-African trade and strengthened regional integration. Board members welcomed the proposal but requested that going forward Management should target more low-income countries in agreements of this nature. They also requested Management to clarify the development impact of trade finance and to improve the...
22-May-2018

Highlights – Board Meeting of 26 April 2018

Board members took note of the above report prepared following the request/complaint filed on behalf of the people affected by the Diversification of Activities of Modern Mills Project (M3) Mali project and containing observations and recommendations from the project compliance review. Board members thanked the Compliance Review and Madiation Department for the information provided and recommendations made and requested that necessary steps be taken to ensure the prompt implementation of the recommendations. To this end, a robust and clear action plan, together with a precise timetable, will...
22-May-2018

Highlights – Board Meeting of 2 May 2018

Following the presentation by ED MELLALI, Board members noted that the final version of the Annual Report had benefitted from several improvements made by ECAM committee members and other members of the Board. They, however, suggested additional editorial amendments and in particular, called for the toning down of some laudatory wordings in parts of the Annual Report. They also called for the incorporation of additional data on Human Resources given that Governors had requested for more information in that area at the last Annual Meetings. At the end of its deliberations, the Board endorsed...
14-Mar-2018

Highlights – Board Meeting of 10 January 2018

The Board noted that the above-mentioned proposal is to assess the eligibility of a request on a complaint by two Guinean NGO employees regarding the Bank’s noncompliance with its operational safeguards and environment policy on the Guinea Road Section of the Multinational Road Development and Transport Facilitation Programme within the Mano River Union. Board Members took note of the complaints raised, including concerns about damages to the ecosystem of a UNESCO heritage reserve within the project area, the dissatisfaction of the complainants with the environmental and social impact of an...
14-Mar-2018

Highlights – Board Meeting of 17 January 2018

Board members noted that the objective of EGESP III is to support the implementation of the government's medium-term development agenda, which seeks to lay a solid foundation for inclusive and self-sustaining economic growth. Among other things, they welcomed the joint and coordinated approach with the World Bank and the IMF and the Government's strong ownership of the proposed reforms and its commitment to implement them. They also welcomed the emphasis on inclusive and resilient growth, but stressed the need to put more emphasis on promoting gender and creating jobs for young people in...
14-Mar-2018

Highlights – Board Meeting of 31 January 2018

Board Members noted that the objective of the ALCB Fund is to promote the development of local financial markets and access to long-term financing in local currency and to attract domestic institutional investors. They welcomed, inter alia, the importance given to technical assistance and capacity building of African bond issuers and the indirect contribution of the Fund to job creation, by financing African companies and financial institutions. The Board also welcomed the diversification of the Fund's portfolio, particularly in terms of sectors and geographies, but asked for details of the...
14-Mar-2018

Highlights – Board Meeting of 7 February 2018

The above-mentioned proposal seeks to contribute to the scaling up of financial inclusion in Africa through digital payments designed to make available grants and address systemic periods in digital financial services. Board Members commended the innovative initiative that will benefit the populations, including the access of financial services to women. Members took note of the proposed governance structure and requested for further justifications and clarifications. They also emphasized the need for a clear definition of responsibilities and attributions internally and a strong coordination...
14-Mar-2018

Highlights – Board Meeting of 21 February 2018

The Board discussed the above-mentioned proposal for the conclusion of a technical cooperation agreement between the Bank and the Rockefeller Foundation. The agreement provides for the establishment of the Rockefeller Foundation Trust Fund to support technical cooperation activities related to the Bank's Five Key Priorities and serve as a channel for the flow of additional financial resources in support of Bank operations. Board Members welcomed this initiative, which is part of the policy of diversifying the sources of financing the Bank's activities. In addition, they welcomed the alignment...
21-Feb-2018

Highlights – Board Meeting of 03 November 2017

The Chairperson of the Committee on Administrative and Human Resource Policy Issues (CAHR) confirmed that the concerns raised by Committee members were addressed in the final version submitted to the Board. Then, Board members expressed support for Management’s proposals, as contained in the document. They, however, requested management to come forward with a new total remuneration framework which will inform future decisions. Some Executive Directors suggested that, going forward, Management should be balanced in the application of the scale adjustment methodology not only to offices below...
21-Feb-2018

Highlights – Board Meeting of 08 November 2017

The Vice Chairperson of CODE stated that the document had been reviewed by the Committee and confirmed that Executive Directors’ recommendations had been incorporated in the revised version submitted to the Board. Executive Directors welcomed the Action Plan and the signing of the Accreditation Agreement. Some Executive Directors welcomed the climate finance target but others considered it as quite ambitious and called for more realism and pragmatism. While some Executive Directors emphasized the need to align the Bank’s energy policy with the objectives of the Paris Agreement, others...
21-Feb-2018

Highlights – Board Meeting of 22 November 2017

Following Management’s presentation, the Chairperson of CODE stated that the abovementioned CSP had been discussed by the Committee on 28 June 2017 and that Committee members’ recommendations had been taken into account in the document submitted to the Board. Board members expressed support for the Madagascar 2017 – 2021 Country Strategy Paper and, in particular its two pillars: (i) development of energy and transport infrastructure to support inclusive growth; and (ii) support to agricultural transformation and industrial development. They, however, called for more selectivity to ensure real...
21-Feb-2018

Highlights – Board Meeting of 24 November 2017

The proposal under consideration concerns the strengthening of the CU2A road, precisely the Gounghin-Fada N'Gourma-Piéga-Niger border section. Project implementation will contribute to strengthening economic competitiveness and regional integration by enhancing the service quality on the road concerned. Management assured Board members of the arrangements made by the Burkinabè Government for the appropriate maintenance of the road axis concerned and pledged to improve the logical framework for measuring the results of the project. At the end of its deliberations, the Board approved a loan to...
21-Feb-2018

Highlights – Board Meeting of 28 November 2017

Board Members noted that the RBF is a funding instrument that will support government programs and link disbursements directly to the achievement of results. They also noted that the instrument will enable the Bank to strengthen its focus on results and focus more on the Bank's five priority areas, the High-5s. Members welcomed, inter alia, the emphasis on inclusiveness, selectivity and additionality. They stressed the need to ensure better formulation of outcome indicators, in collaboration and with the agreement of all parties, to ensure better implementation and close monitoring by the...