Busan bulletin 25 05 2018 English Issue 05

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@AfDB_Group #AfDBAM2018 afdb.org/am AFRICAN DEVELOPMENT BANK GROUP ANNUAL MEETINGS BULLETIN - MAY 25, 2018

With a strong financial profile, the African Development Bank is spearheading Africa’s economic transformation he African Development Bank has a very strong financial profile and remains focused on optimizing and strengthening its balance sheet to more effectively accompany African countries in achieving the Sustainable Development Goals. Prudent financial management and policies are the backbone of the Bank’s AAA rating.

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The Financial Presentation is the highlight of Bank’s financial and operational performance for 2017. It described rising income and record disbursements of US $7.7 billion. More borrowing in the past few years reflects increased demand for Bank resources, and a deeper and broader investor base.

IN THIS EDITION

The Bank’s yardstick is its impact on Africa’s development, said Bank President Akinwumi Adesina. “At the end of the day, it is all about the impact. Your Bank is making impact,” he told delegates, Governors, Executive Directors and Bank staff.

Hassatou Diop N’Sele, Group Treasurer and Acting Vice-President for Finance at the Bank, declared, “We will continue to improve our efficiency and remain a responsive and effective partner to maximize our development impact. We see ourselves not just as financiers, but also as a catalyst for attracting investment to the continent. We are therefore working with governments, agencies, and non-profits to co-finance or seek grants to support our projects and our development mandate.”

The report points to a remarkable increase in impact from projects completed in 2017, which provided 1.5 million direct new jobs, 460 MW of new power capacity installed of which 33% are

The Bank, she said, is solvent, very liquid, cost-effective, attuned to the continent’s financial needs, and able to provide very competitive pricing to clients. “We also understand that development is about empowering people to realize their needs and aspirations, including through education and better health and inclusion in secure communities. The Bank is a responsive and effective partner – we support our clients in times of crisis and in better times,” she explained.

Editorial: Transforming Africa through stronger integration p. 3 Best of the Annual Meetings in photos p. 4 Guest of the Day: Simon Mizrahi on the Bank’s results p. 6 Meet the Africa of my Dreams Writing Contest finalist p. 8

Changing people’s lives is the core of the Bank’s work

Find the photos on Flickr: j.mp/2IF46wH

Watch the interviews with Governors: j.mp/2IErqut

Watch the Governors’formal statements: j.mp/2IDTEFU

In Focus: Why Africa needs a “Big Bond” p. 10

To be continued on p. 3

The Bank’s Secretary General assesses the Annual Meetings Vincent Nmehielle

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s the Annual Meetings draw to a close, Busan Bulletin sought from the Bank’s Secretary General, Vincent Nmehielle, his assessment of the event.

gratulations”, “what a meeting”, and so on. While we cannot blow our own trumpet, based on what people have said, I can very well say it has been a wonderful meeting.

How do you assess the success of the Annual Meetings? I am not sure that I am the one to assess the Annual Meetings, but people I meet – participants, Governors, staff members, senior management – have told me: "It was well organized”, “fabulous Meetings”, “fantastic”, “con-

During the Annual Meetings, we have talked a lot of what Africa can learn from Africa, but do you think Korean can learn from Africa? The world is not one-way; it is always a mixture of experience. We

All videos: j.mp/2IF6Pq4

Busan Bulletin printed on recycled paper - May 25, 2018

renewable, and built or rehabilitated 2,500 km of roads. The Bank eased access to financial services for 210,000 owner-operators and small businesses, provided 8.3 million people with improved access to water and sanitation, reduced 157,000 tons

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To be continued on p. 3


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