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Corporate Governance Strategy - July 2007
The African Development Bank (“the Bank”) has fully recognized over the last few years that good governance is key to Africa’s future development. Studies have shown that it contributes to macroeconomic stability and predictability; it enhances government’s ability to implement poverty reduction policies by ensuring transparent and participatory policy-making; it enables public functions to be executed in an accountable manner and therefore increases investor confidence, and it demonstrates a country’s strong commitment to international anticorruption standards. In this way, improved corporate governance can markedly contribute to a country’s ability to achieve sustained economic growth and lasting democratic political institutions.