BADEA submits 2030 Strategic Plan to panel of African ministers for consultation

From 7th to 9th September 2018, the Secretary of State Charged with Monitoring the Horizonte 2020 Plan, Cesar Augusto Mba Abogo, has taken part in Abidjan, Ivory Coast, in the consultation to define the Strategic Plan for the Arab Bank for the Economic Development of Africa (BADEA) for the 2020-2030 period, a multilateral institution of African Arab countries founded in 1974, with its headquarters on Khartoum.

On submitting its Strategic Plan for consultancy before a restricted panel of members of African governments specialising in finance and economics, BADEA has made it clear that it has abandoned its customary rhetoric of donor, and opted for a more horizontal model with African economies, as the integration of the two blocks (African and Arab) will guarantee greater development for both. Africa and the Arab World will have by 2050 a total of 2.7 billion inhabitants (Africa 2 billion, and the Arab World 0.7 billion).

During this Ministerial Conference, Dr. Sidi Oul Tah, DG of BADEA; stated that the world is going through a process of rapid change, there are various development agendas, and what is at stake is the opportunity to change practices and the narrative of the multilateral development banks and more strongly promote global economic development. BADEA, with a 44-year history, has financed development projects in Africa. Through this new strategy, it will increase its volume of operations (more financing), but this needs both parties, the African party and the Arab party, to see that their interests are being advanced. And to that end, Dr. Sidi said it was necessary to opt for a new economic partnership, as set out in the Africa-Arab World Summit, held in Malabo in 2016.

The Arab institution has taken the initiative of submitting its 2030 Strategic Plan to the restricted panel, in order to ensure the relevance of this multilateral player in a changing world, and to guarantee greater understanding of the development priorities for the 2020-2030 period on the African continent.

The Ivory Coast Minister for Planning and Development, Niale Kaba; the Burkina Faso Minister for Finance, Hadizatou Coulibaly; the Guinea Conakry Minister for International Cooperation, Diene Keita; the Uganda Minister of State for Finance, Ajedra Gabriel Gadison Aridru; the Gabon Deputy Minister for the Economy, Forecasting and Development Planning, Hilaire Machima; and the Equatorial Guinea Secretary of State for Plan Horizonte 2020 Monitoring, Cesar A. Mba Abogo, were invited to the ad-hoc consultation on the BADEA 2030 Strategic Plan. Also present at the consultation were Arab and Asian experts.

Source: Press Office of Secretary of State, Charged with Plan Horizonte 2020 Monitoring

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