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The AfDB Group in North Africa 2009
We are pleased to present the first regional report on the Bank’s activities in North-Africa, setting out both an overview of our projects, in both private and the public sector, studies and strategy in the region. The financial crisis was a key event for 2009, which covers the dates of this report and presented us with an opportunity to show our relevance and responsiveness to our clients in North Africa.
The full extent of the crisis is still unfolding and its ramifications on the real economy have not yet fully occurred. The crisis fed into pre-existing vulnerabilities and the threat of a reversal of the economic and social progress hard-won over the last decade is real. However, the African Development Bank responded to the crisis through a combination of operational and policy interventions and the threat of reversal need not become reality if the Bank and other members of the international community continue to react appropriately.