6 September 2012

AfDB Board of Directors Resumes Meetings After Summer Break

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The Board of Directors of the African Development Bank resumed meetings today in Tunis after the summer holiday.

Welcoming the Board members back to the Bank after a well-deserved break, President Donald Kaberuka outlined four major projects the Bank and the Board will focus on in the last quarter of 2012, namely:

The African Development Fund Mid-Term Review to discuss the Fund's 12th replenishment from September 12-14 in Praia, Cape Verde.

The long-term strategy of the Bank as it enters its final development phase.

The roadmap for the Bank's return to its headquarters in Abidjan, Côte d'Ivoire, to be submitted to the Consultative Board of Governors in mid-October in Tokyo.

The preparation of the triennial budget 2013-2015.

The President pointed out that in a very difficult international financial environment, the Bank was able to maintain the viability of the institution, while continuing to support Regional Member Countries. It was difficult task, he noted, but we arrived safely thanks to the efforts of all.

The Board also approved the 2012 Mid-Year Budget and Performance Report; the Country Strategy Paper 2012-2016 for Benin as well as two projects: Benin's Economic and Financial Reform Support Programme (PAREF) and Rwanda's Poverty Reduction Strategy Support Programme Phase V (PRSSP-V).

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