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 President of the African Development Bank Group, Donald Kaberuka, shared experiences with African ambassadors accredited to China over lunch on Tuesday in Beijing.
Kaberuka said he felt compelled, during what would be his last official visit to China as AfDB President, to express his appreciation for the country’s unwavering support to the Bank and its work in Africa.
He narrated the excellent meetings he has held with top Chinese officials in the ministries and financial sectors, which have provided him and his delegation a better understanding of their strategies, business plans, and the opportunity to chart a course for potential collaboration in future.
Kaberuka made a graphic presentation of the state of African economies as well as the trajectory and future of Africa’s development. He urged the diplomats not to relent in their efforts to attract and deepen cooperation between China and Africa.
There are great expectations to see one of China’s financial institutions become a full-fledged investor in the Africa50 Fund. The fund seeks to bridge Africa’s infrastructure gap. It has so far raised 700 million US dollars. Infrastructure development, Kaberuka said, was key to sustainable inclusive growth and development.
“Our emphasis on infrastructure derives from our firm conviction that until that is resolved; our rate of economic growth will be strong but far below the optimal we need for rapid transformation, he stated”
President Kaberuka said that despite the seemingly insurmountable obstacles, he was eternally optimistic about Africa’s future provided African governments and institutions seized the moment and encrusted the required macroeconomic fundamentals necessary to propel sustainable growth.
"Finally, all African countries must deal with the challenges of jobs, inequalities in the context of a sluggish global economy, old (dysfunctional multilateralism) climate change, and new threats (jihadist, pandemics). In spite of all of these, you will therefore be surprised at my positive assessment of the African economy for which I remain very bullish."
The Dean of African Ambassadors and heads of mission in China, Victor Sikonina of Madagascar, expressed the diplomatic corps’ appreciation of the immense work accomplished by Kaberuka at the AfDB and Africa.
“At the end of your mandate – unanimously acclaimed for its success by African heads of state and leaders of the international community - allow me to use the occasion of your presence in Beijing to express the felicitations of the group of African ambassadors and heads of diplomatic missions in Beijing for your personal contribution to the AfDB and the forum of China-Africa Cooperation (FOCAC) for the benefit of African peoples and the African continent,” the dean said.