The 59th African Development Bank Annual meeting opening May 27 in Kenya is expected to center on structural reform for the socio-economic transformation of the continent. The meeting to run till the 31st will be held under the theme: Africa’s Transformation, African Development Bank Group and Reform of the Global Financial Architecture.
The African Development Bank (AfDB) is holding its 59th annual Meeting in Kenya to discuss on structural reforms to drive socio-economic transformation on the African continent.
The meeting to harbor several African leaders is themed ‘Africa’s Transformation, African Development Bank Group, and Reform of the Global Financial Architecture’ will comprise the 59th Annual Assembly of the African Development Bank and the 50th meeting of the African Development Fund.
The conference slated for May 27 to 31 brings together key officials of bilateral and multilateral development agencies, leading academics and representatives of non-governmental organizations, civil society, and the private sector.
Several African presidents and dignitaries will be attending the annual get together like Rwandan president, Paul Kagame, President Felix Tshisekedi of DR Congo, President Emmerson Mnangagwa of Zimbabwe, and President Nana Addo Akufo-Addo of Ghana. During the meeting, president Kagame is expected to speak in a presidential dialogue on the theme, on May 29.
Other dignitaries include finance ministers from different countries, Admassu Tadesse, President and Group Managing Director of the Trade and Development Bank (TDB), Muhammad Al Jasser, President of Islamic Development Bank, Patrick Verkooijen, CEO of Global Center on Adaptation, Sidi Ould Tah, Director General of Arab Bank for Economic Development in Africa (BADEA), Alexia Latortue, Assistant Secretary for International Markets and Development, U.S. Treasury, among others.
The discussions during the coming days will revolve around the importance of a reconfigured global financial architecture as an engine for structural transformation, and the Bank Group’s contribution towards Africa’s socio-economic transformation in its 60 years of existence.
While 10 of the world’s fastest-growing economies are in Africa and the continent’s real GDP increased annually by 4.3 percent over the past two decades compared to the world’s average of 2.9 percent, available data indicate that it is off track on almost all SDG targets by 2030.
The conference, hence, seeks to identify ways of accelerating Africa’s economic transformation and redefining current global financial architecture to avail the needed resources.
