54th AfDB Annual Assembly ends

On Friday 14th June, the 54th African Development Bank (AfDB) Annual Assembly came to an end, with a final communique covering the decisions adopted during the assembly. In 2020 it will be the Republic of Ivory Coast that hosts this important meeting, at which the AfDB president for the next five years will be chosen, when the mandate of the current president, Akinwumi A. Adesina, assisted by the Minister for Finance, the Economy and Planning, Cesar Augusto Mba Abogo, comes to an end. He announced during a press conference that he would be standing for a second time.

The activities on Friday included debates, one on the integration of African farmers in the regional and global value chains, followed by the fourth board of governors meeting, in which they met to present the report.

Following these two blocks, everyone came together in the main conference hall in Sipopo, for the start of the closing ceremony, which began with words from the General Secretary of the AfDB Group, Vincent Nmehielle, who read the recommendations, which had been adopted.

Furthermore, the delegate representing the Republic of Rwanda read the final communique document. At the start of her speech she thanked the people and Government of Equatorial Guinea for holding these meetings and for the hospitality of the attending delegations. She also recalled that the topic chosen had been African integration as the only advantage for African development, reaffirming the need to support the AfDB Groups in order to increase the capital.

The communique also covered financial measures to strengthen banks; the provision of capital to protect the entities; negotiations for a fund for African development; an improvement in the business environment and guarantees for investment; an increase in the capital of banks, and above all , the idea to continue working with the AU.

Furthermore, the promotion of free dialogue with countries in conflict situations was highlighted, in addition to improving the application of safeguards and the application of accounts.

We are encouraging the commitment to invest in Africa and Asia, in order to continue with new commitments in Africa, creating better jobs for young people. Furthermore, we recommend that the banking group boosts the sector of women on the continent, and efficient control of the internal controls of the bank”.

The AfDB president, in his speech, thanked the finance ministers and governors of the banks, to whom he said that, You love Africa and also the bank, and you always make suggestions regarding what we do. I can see the flags of different countries in the hall with differing priorities and resources, and what is not different is your pride and support for the bank. I also thank President Obiang Nguema Mbasogo for the facilities provided to work in an exceptional way”, thanks that were also extended for the interest with which the Minister of Finance has led the meetings.

The Minster Cesar Augusto Mba also uttered words of gratitude, and praised the work carried out.

Finally the AfDB President concluded with his reflections on the work,

It is not easy to represent 40 different countries, but you have done your best to run the bank, and the personnel welcome your work, in addition to all the members of the Board of Directors who will leave the bank; my gratitude for all their useful work, above all your advice. To the new board members; there is a lot to do at the next meeting in Ivory Coast. We have spoken about regional integration , the creation of jobs, the need to accelerate development in Africa, the strengthening of human and operational capabilities. We have held profound debates on the model for the bank and we will continue to work, because there is a lot to do, and we cannot leave it undone. We must complete the executed reforms”.

Source: Equatorial Guinea Press and Information Office

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