The 2019 Annual Meetings of the African Development Bank Group will be held from 11-14 June 2019, in Malabo, Republic of Equatorial Guinea. Find out more
The African Development Bank Group (AfDB) President, Donald Kaberuka will continue to advocate a shift in the international community focus from aid to development effectiveness, at the 5th European Development Days (EDD) to be held in Brussels, from 6 -7 December 2010. During the High-Level Panel on “Aid Effectiveness Objective Korea 2011 – Is the EU committed to make change happen?”, Mr. Kaberuka, will share a vision of Africa’s development in which Africa is firmly in the driving seat, and aid in a supporting role. This is the vision that will also be shared in Busan, Korea, in November 2011.
“Aid is only a means to an end. Indeed, if aid is truly effective, it will progressively do itself out of a job. Effective aid should therefore be designed with this in mind – to strengthen, not displace, domestic energy and capacity; and to build up, not replace, alternative sources of development finance. This is a new way of thinking about the development partnership” Mr. Kaberuka explained.
Effective aid should not foster dependence and alternative sources of development finance should be pursued. In future, the Bank foresees stronger economic integration in Africa with economies of scale and regional production chains that will enable the continent compete in the global economy. Trade and private investment should become one of the key drivers for growth on the continent. On the other hand, the African continent must have states capable of delivering development results and are accountable to the people. Progress should not be measured by good intentions or the amount of money spent, but by the impact of concrete actions on poor people.
In all its development programmes – from infrastructure to private sector development and governance – the AfDB aims at stimulating growth that is strong, sustained and shared in the African countries.