The 2007 annual gathering of the Board of Governors of the
African Development Bank Group (AfDB) will take place at the
Shanghai International Convention Center on Wednesday and
Thursday.
It is the second time the AfDB will meet outside Africa. Its
first overseas session was held in Spain in 2001.
China's hosting of the meetings gives Zhou Xiaochuan, governor of the People's Bank
of China, automatic chairmanship of the board this year, said Eric
Chinje, spokesman of AfDB.
With the theme of "Africa and Asia: Partners in Development,"
the event is considered an important gathering of the bank's board
of governors, its highest decision-making organ.
More than 2,000 people are expected to attend the meetings.
The participants will discuss such topics as trade,
infrastructure, climate change and capital flows.
Established in 1964 and headquartered in Abidjan, Cte d'Ivoire,
AfDB is a multilateral development bank whose shareholders consist
of 53 African countries and 24 non-African countries from North
America, Asia and Europe. China became a member of AfDB in
1985.
The premier financial development institution of Africa is
dedicated to combating poverty and improving the lives of African
people and engaged in the task of mobilizing resources towards the
economic and social progress of its regional member countries.
The bank's mission is to promote economic and social development
through loans, equity investments and technical assistance.
Since starting operations in the 1960s, AfDB has been involved
in many aspects of the continent's development.
The bank has committed enormous resources to help the continent
achieve sustainable development.
As the continent's premier development bank, AfDB is placing a
lot of emphasis on the continent's infrastructure development,
regional integration, poverty reduction, education and health.
By offering concessions to its regional member countries for
them to carry out their development projects, the bank is taking
the lead in the struggle against poverty and under-development on
the continent.
The bank believes that if the continent has to emerge out of
poverty, tackling those issues that have delayed its development is
the right way to go.
In May 1999, the Board of Governors of the AfDB adopted the
Vision of the African Development Bank A Re-Invigorated Bank: an
Agenda for Moving Forward.
This "Vision", a product of extensive consultations with all of
the bank's stakeholders on its mission stance, sets out a long-term
strategic focus for the bank.
The AfDB's efforts to improve living conditions on the continent
have not gone unnoticed.
Many world leaders have cooperated with the bank and found the
leading African development bank a reliable and enduring
partner.
Today, the bank is urging its regional member countries to do
the right things as a first step towards bringing economic
prosperity to the continent.
AfDB is currently discussing the continuation of economic
reforms, the fight against corruption, good governance, youth
training and seeking an end to armed conflict, as those things will
help attract foreign investments to the continent.
(China Daily May 14, 2007)
