On 26 April, the president of the African Development Bank (AfDB), Donald Kaberuka, will meet the president of the Brazilian Development Bank, Luciano Coutinho, who is visiting the AfDB's temporary relocation headquarters in Tunis.

The two presidents will finalize discussions on long-term cooperation between the two institutions which commenced at a meeting between them during the World Economic Forum in Davos in January, 2011.

In Davos, Mr Kaberuka and Mr Coutinho agreed to explore long-term partnerships between the two institutions in five areas. They were knowledge sharing, energy, in particular hydro energy, agriculture and agribusiness, infrastructure, and project preparation (a co-financed revolving fund).

This meeting was a follow-up to an earlier meeting that between Mr Kaberuka and Mr Coutinho's predecessor, Inacio Lula da Silva, and visits by AfDB staff to the Brazilian Development Bank.

The Brazilian Development Bank closed the year 2011 with disbursements which totaled approximately USD 80 billion.

The relationship between Brazil and the African Development Bank dates back to 1973 when the country became a state participant of the African Development Fund, the concessional window of the AfDB Group. Some ten years later, Brazil became a member of the AfDB. In 2009, the Brazilian Development Bank expressed its desire to formalize a cooperation framework with the AfDB.

The visit is a clear demonstration of Brazil's keen interest to strengthen and enhance its cooperation with the AfDB for the benefit of Africa's development.

Contacts

Magatte Wade