Bank Group Officials Attend Turkey-Africa Cooperation Summit

21 August 2008
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African Development Bank (Abidjan)
press release

A Bank Group delegation participated in the Turkey-Africa Cooperation Summit and the Turkey-Africa Business Forum which took place in Istanbul, Turkey, from August 18-21, 2008.

Chaired by Turkey’s President, Adbullah Gul, and Ethiopian Prime Minister, Meles Zenawi, who is also the African Union chairperson, the event brought together over 350 participants, including 8 heads of state, 7 vice presidents, 15 foreign affairs ministers, 30 heads of delegations from African countries as well as representatives of regional and international development cooperation agencies.

Speaking during the occasion, Mr. Gul acknowledged the growing economic ties between Turkey and Africa, recalling that Turkey had been designated in January 2008 as a strategic partner of the African Union.

The summit ended with the adoption of the Istanbul Declaration on Africa – Turkey Partnership ‘Solidarity and Partnership for a common Future’ as well as the ‘Framework of Cooperation for Africa-Turkey Partnership’. The framework calls for increased collaboration in nine priority areas: inter-governmental cooperation; trade and investment; agriculture, agri-business, rural development, water resources management and small and medium scale enterprises; health; peace and security; infrastructure, energy and transport; culture, tourism and education; media and information and technology.

The Bank Group delegation, led by Senior Adviser, Youssouf Ouedraogo, also participated in a business forum organized by the Turkish Foreign Economic Relations Board (DEIK) aimed at accelerating relations between Turkey and African countries. Meeting sessions were held on 'Economic Relations between Turkey and Africa' and the 'Business and Investment Climate in Africa', as well as various workshops that touched on infrastructure investments, co-operation opportunities in the mining and agricultural sectors, as well as the sharing of know-how and expertise.  The discussions were held in the spirit of enhancing relations and forging stronger ties between Turkey and Africa.

Speaking on behalf of Bank Group President, Donald Kaberuka, during the opening session of the business forum, Mr. Ouedraogo, focused on the Bank Group and its activities. The Bank Group delegation also made presentations on 'Opportunities for Infrastructure Investments in Africa' and 'Project Finance in Africa'.

Turkey is expected to become the 25th Non-Regional Member of the African Development Bank (AfDB) Group following the approval of its application by the Boards of Governors of the Bank Group at the 2008 Annual Meetings in Maputo, Mozambique. The Boards of Directors of the AfDB Group had considered the application as well as a special Bank capital increase required to actualize Turkey’s membership in March 2008. This final approval by the governors enables Turkey to subscribe to the Bank’s share capital and become the 25th non-regional and 78th overall member of the Bank Group.

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