Bank Group President Meets with Ambassadors Accredited to Tunisia
Written by Joachim Arrey
- Return to growth in many African countries
- Upcoming visit of the President in China
AfDB President, Donald Kaberuka, on Tuesday, January 19, 2010, met with ambassadors accredited to Tunisia whose countries are member countries of the continent’s leading development finance institution. Speaking during the event, Mr. Kaberuka provided a snapshot of Bank activities in 2009.
He pointed out that the continent’s economies had been affected by the global financial crisis and its effects included a collapse in commodity earnings, declines in foreign direct investments and remittances, and a possible slow-down in aid flows. He stressed that resource-rich and frontier countries were the hardest hit due to sluggish demand for their commodities.
He said that recovery in 2010 was still uncertain, adding that income levels might remain low for an extended period of time. He also underscored that the Bank’s response to the global financial crisis was swift and it included a streamlining of its internal processes, reinforced risk management, enhanced IT capabilities, and increased client focus though greater decentralization.