AfDB meetings close in Marrakech

The annual meetings of the African Development Bank Group have closed in Marrakech, Morocco, after five days of intense brainstorming on current African development issues, and the approval of the Group’s 2012 Annual Report and audited accounts as well as its operations programmes.

The Governors, usually Finance Ministers and Central Bank Governors representing the 77 member countries of the Group also adopted a number of resolutions, in particular, regarding the return of the Bank’s operations to its statutory headquarters in Abidjan, Côte d’Ivoire and approved its Ten-Year Strategy 2013-2022

The group’s Ten-Year Strategy is designed to place the Bank at the centre of Africa’s transformation and to improve the quality of Africa’s growth. It aims to broaden and deepen that process of transformation, mainly by ensuring that growth is shared and not isolated, for all African citizens and countries, not just for some. It also aims to bring about growth that is not just environmentally sustainable, but also economically empowering.

When growth is inclusive as well as “green”, it creates the jobs that the continent needs now and that it will need in ever greater numbers as millions more young people enter the job market, with energies and aspirations to match. This ten-year Strategy will focus on two objectives to improve the quality of Africa’s growth: inclusive growth, and the transition to green growth. Technology plays an important role in the transformation.

In a communiqué read at the end of the meetings, the Board expressed the need and urgency of Africa’s structural transformation and urged for a long-term commitment to the subject by African countries. “This is critical to develop timely solutions to the challenges of job creation, the equitable allocation of the benefits of growth and the continent’s natural resources, as well as effectively harnessing the ‘demographic dividend’ of Africa’s young population.”

They expressed satisfaction with the Bank’s continued financial and operational performance and commended its work in all its member-states, especially the fragile states as well as its commitment in support of Somali and Mali.

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