Mr. Nizar Baraka, the Minister of Economy and Finance of the Kingdom of Morocco, and Ms. Cecilia Akintomide, Vice-President and Secretary General of the African Development Bank (AfDB) Group, signed the Memorandum of Understanding for the organization of the Annual Meetings of the AfDB Group from 27 to 31 May 2013 in Marrakech.
The Minister and the Secretary General both recognized that the hosting of the 2013 Annual Meetings marks another milestone in the partnership between the Kingdom and the AfDB Group.
The meetings, with the excellent conference facilities and legendary Moroccan hospitality, will provide the optimal forum for the shareholders to carry out the business of the Bank, and for all stakeholders to dialogue on current issues pertaining to the development of the continent. Morocco had hosted the Annual Meetings in 1974, in its capital Rabat. Since then, the Kingdom, the continent and the Bank Group have evolved significantly.
The AfDB is the premier development partner of the Kingdom of Morocco with cumulative investments amounting to approximately € 8 billion and an active portfolio of more than € 2 billion, comprising 24 operations, including 15 loans and 10 grants. AfDB's investments are primarily in the infrastructure, governance and social sectors (health and education).
Also present at the signing ceremony were Mr. Khalid Safir, the Secretary-General of the Ministry of Economy and Finance, Ms. Amani Abou-Zeid, AfDB Resident Representative in Morocco, and other representatives of the Government and the AfDB.