An Africa Business Community
The Mid-Term Review of the African Development Fund (ADF-12) implementation concluded in Praia, Cape Verde on September 14 with donors and stakeholders encouraging the African Development Bank (AfDB) to continue working to achieve results in its development projects and institutional reforms.
The meeting was officially opened on September 13 by Cape Verde’s Finance and Planning Minister, Cristina Duarte, and was attended by Deputies from donor countries; AfDB Governors for Côte d’Ivoire, Ghana, Kenya and Malawi; as well as the Bank’s President, Donald Kaberuka.
In her opening remarks, Cristina Duarte expressed gratitude towards the AfDB for choosing Cape Verde to host the meeting and present it as success story for its effective use of ADF resources. For his part, President Kaberuka thanked the deputies for their continued support of and confidence in the Bank Group. “The AfDB,” he said, “has produced good results during the financial crisis and remains a reliable partner, particularly for regional integration projects and assistance to fragile states.” He also congratulated Cape Verde for adopting standing governance policies that were conducive to the country’s socio-economic development.
In a critical analysis, President Kaberuka emphasized that, while the AfDB is a more efficient organization today, much remains to be done, both in terms of institutional effectiveness and in supporting countries’ inclusive growth and the green economy.
Participants attended presentations on AfDB’s operational priorities, institutional effectiveness, resource allocation, ADF’s financing capacity and sustainability over the long term, as well as on development results.
Deputies noted with satisfaction the implementation of the Bank’s operational priorities, notably its support for fragile states, its regional operations and improvements in fiscal governance.
Concerning institutional effectiveness and development results, the deputies welcomed the Bank’s energetic decentralization policy, and its presence in 34 countries, as it brings the institution closer to field, and ensures greater results and a positive impact on beneficiaries, as in the case of the Bamako-Dakar Corridor road project.
The Praia meeting was an opportunity for participants to visit important rural development and thermal, wind and solar energy projects that have received funding from the ADF and the Bank Group’s private window. Participants also exchanged views on development issues in Africa such as inclusive growth supported by an economy based on transformation and the green economy.
All told, the discussions led to increased support for the ADF, enabling it to consolidate its internal resources with a view to fulfilling its mission of eradicating poverty and fostering sustainable development on the continent.