Southern Africa finance chiefs hail AfDB

Abidjan, Cote d'Ivoire (PANA) - Southern African Governors of the African Development Bank (AfDB) have described the Bank as the future of Africa’s development and called on it to lead the way to faster-paced development of the continent.

The Governors – Finance Ministers and Ministers of Economic Planning from Angola, Lesotho, Madagascar, Malawi, Mozambique, Namibia, São Tomé and Príncipe, South Africa, Swaziland, Zambia and Zimbabwe - met in Abidjan.

They shared their thoughts at a regional consultation with African Development Bank President Akinwumi Adesina and Senior Bank Executives at the institution’s headquarters in Abidjan, according to a statement on the website of AfDB on Tuesday.

“I thank the Bank for accelerating lending,” said Moeketsi Majoro, the Minister of Finance from Lesotho. He commended the Bank’s decentralization policy for bringing the institution closer to its shareholders.

According to Adesina, “The challenges ahead of Africa are immense, and the need for faster growth is even more urgent than ever before. Therefore, we cannot rest on our oars.”

In 2017, the Bank accelerated the scale and delivery of its lending and achieved the highest disbursement ever in the history of the Bank, with over $7.2 billion.

“It is clear to me today that the continent has a new and exciting sense of purpose as exhibited by the African Development Bank. The Bank is the future of African development, transformation, and respect,” said Mondli Gungubele, Alternate Governor and Deputy Minister of Finance for South Africa.

“I would like to join the chorus of Governors who have expressed appreciation for how the African Development Bank is being run and for its strong adherence to core principles of good governance,” Gungubele said.

“We strongly feel the increase of the Bank’s operations as well as its greater involvement in our country. The Bank came to our assistance when we most needed it. We feel its impact in the public and private sectors,” said Aia-Eza da Silva, the State Secretary of Budget and Public Investment, on behalf of the Governor from Angola.

She called for the Bank’s assistance to enable the country to deliver on project implementation faster.

Adesina called for collective action on scaled-up implementation of Africa’s development, noting that a faster-paced development and development with pride is what the continent needs.

“We have just 12 years to achieve the Sustainable Development Goals! This is not a clock ticking. It is an alarm bell for the world. And the bell is ringing louder and louder,” he said. “The Sustainable Development Goals will not be achieved by a ‘business as usual’ attitude. And they will not be realised globally unless Africa achieves them completely and comprehensively.”

He gave the assurance that all the countries of the Southern Africa region have a great opportunity to accelerate inclusive growth in the next few years and that the African Development Bank would be with them on this journey.
-0- PANA DJ/MA 11April2018

11 april 2018 06:53:20

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