An African Development Bank (AfDB) delegation led by its President, Donald Kaberuka, met with Nigerian development financial institutions (DFIs) officials on Wednesday, 24 November 2010 in Abuja to exchange views on how to boost the country's economy through close collaboration.

The meeting, chaired by Mr. Kaberuka, provided a good opportunity for both parties to discuss critical issues such as long-term resource mobilization, equity funds, SME/SMIs, risk management, urban investments, trade, energy, transport, tourism, capacity building in climate change and credit insurance.

Among the leading Nigerian DFIs represented at the meeting were the Bank of Industry, Nerfund, Neximbank, Urban development Bank and officials from the Federal Ministry of Finance. They urged the AfDB to provide them access to more financial resources.

Mr. Kaberuka underscored the AfDB's willingness to reinforce its support to the DFIs which are now endowed with a new generation of managers. "I want strategic engagement but with more rigor," he emphasized.

The meeting marked the beginning of a series of consultations between the Bank and DFIs. " Our aim is to reach the productive sector. I am pleased to note that the regulatory framework in Nigeria is satisfactory. We will do due diligence, taking into account the fact that each case is different," Mr. Kaberuka concluded.

Contacts

Magatte Wade