The African Development Bank (AfDB) launched its Ten Year Strategy for the period 2013-2022 on November 26 in Algiers, Algeria. The document was acknowledged by participants in view of the commitments made to meet present challenges for the continent's sustainable development.
Government authorities along with representatives of civil society and the private sector recognized the private sector's key role in making the strategy operational in Algeria. It was equally emphasized that the period covered by the strategy came at a crucial period when the country will call for a reflection on the concept of sustainable development at the continental level. This concept will be promoted through the United Nations Research Institute for Social Development (UNRISD) and hosted by Algeria.
The meeting was a venue to discuss thorny issues concerning the continent's stability, regional economic integration, climate change adaptation, inter-country relations as well as the evaluation of progress made each year. According to the participants, a recognition of the progress made each year is essential if the continent is to meet its objectives. They also expressed satisfaction that these issues were part and parcel of the Bank's Strategy. Algerian experts have, through consultations led by the AfDB, contributed to the preparation of the Strategy.
During the discussions, the AfDB Resident Representative in Algeria, Assitan Diarra-Thioune, presented Algeria's economic situation, indicating that "Algeria's admirable economic and financial performance had contributed to the robust economic performance of the continent." Algeria has recorded an economic growth of about 3.14 per cent from 2004-2012. The country's foreign exchange reserves are among the highest in the continent, standing at about $190.7 billion at year-end 2012.
"Algeria has made important investments in the sector of infrastructure, which is of the five major operational pillars of the AfDB Ten Year Strategy," Diarra-Thioune said. "Infrastructure is a top priority for Africa's sustainable development and this is an encouraging example for the continent. At the social level, noteworthy progress has been made in the country's bid to meet the Millennium Development Goals by 2015." From 1971 to 2006, the AfDB provided aid and assistance to Algeria in the realization of its major development projects, particularly in the infrastructure, transport, water and sanitation sectors. The country has equally received support for economic reform and private sector development. Since 2006, the strategic orientation of cooperation between the AfDB and Algeria has been centered on technical assistance, advice and the pursuit of social and economic research.
The launch ceremony of the strategy was organized by the AfDB country office in collaboration with the Ministry of Finance. It was attended by Government officials and representatives from think tanks, civil society and the private sector.
