The African Development Bank (AfDB) Group has commended the decision to put development issues on the main agenda of the G-20 Summit in Seoul for the first time.

On the eve of this historic summit, AfDB President, Donald Kaberuka said: "The G-20 Summit is taking place in a country which has catapulted itself from a poor to an industrialised prosperous country in a generation. It offers a unique opportunity to draw lessons from such an experience and that of others in the economic South for a possible paradigm shift that unlocks Africa's potential to contribute to global prosperity."

He added: "I welcome the work done by the Working Group on Development issues created at the Toronto Summit and look forward to their consideration in Seoul; the moment is ripe and is now, when Africa is consolidating an unprecedented momentum despite risks and uncertainties in the global environment which issues are on the table for discussions at the Seoul Summit"

Mr. Kaberuka said Korea had already shown commendable leadership by putting development, for the first time, squarely on the G20 agenda. This marks an important milestone in the evolution of the G-20, and raises hopes that the Seoul Summit will provide the basis for sustained G-20 engagement with development challenges and for the full participation of African and other lower income countries.

The focus of the 11-12 November 2010 Seoul Summit is on safeguarding the ongoing global economic recovery and restoring fiscal sustainability; ensuring strong, sustainable, and balanced global growth; building a stronger international financial regulatory system; and modernizing international financial institutions.

Contacts

Felix Njoku