AfDB to discuss North Africa at annual meeting


The African Development Bank will look at the impact on the continent of unrest in North Africa at its annual meeting next month, said the bank’s secretary-general.

“The conflicts in Egypt, Tunisia and Libya will be discussed,” Secretary-General Cecilia Akintomide told a web-based press conference.
“We will be discussing the implications on development and the lessons to be learned, that will be a key part of our discussion.”

The bank includes 53 African countries among its 77 shareholders, as well as Western governments. It tripled its capital base to $100 billion last year to cope with the impact on Africa of the global financial crisis, Reuters reports.

The Arab spring uprisings in north Africa and conflict in the Ivory Coast have not dented the bank’s finances, Akintomide said.
“We have done a deep financial management analysis, country exposure analysis, risk analysis, at this time the bank is not at any real risk as a result of the unrest,” she said.

The bank said it was resuming operations in Ivory Coast with $150 million of emergency support for the country emerging from a five-month political crisis.

The annual meeting takes place in Lisbon on June 9-10. Representatives of the government of south Sudan, which voted to secede from Khartoum in January, will attend as observers.