Posted by: Home Strange Home | May 29, 2009

African Development Bank Annual Meeting

The African Development Bank (AfDB) recently held its 44th Annual Meeting on May 13th and 14th in Dakar, Senegal.  This year’s theme concerned the impact of the global financial crisis on Africa and was entitled “Africa and the Financial Crisis: An Agenda for Action.”  The global crisis has negatively affected Africa through a number of channels, including a general slowdown in growth rates in African economies, reduced foreign direct investment in Africa, lower aid commitments by cash-strapped donor countries, smaller remittances from the African diaspora population, and a slippage in progress toward the Millennium Development Goals.  

Two-thousand attendees were present at the conference, including Finance and Economy Ministers, Secretaries of State, Central Bank Governors, heads of multilateral development agencies, civil society groups, NGOs, and business people.  The event was formally opened by Senegalese President Abdoulaye Wade and led by AfDB President Donald Kaberuka and the UN Economic Commission for Africa (UNECA) Executive Secretary, Abdoulie Janneh.  Attendance was down from previous years and notably some Ministers of Finance and Central Bank Governors did not attend.



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