African Development Bank Holds Consultation Day on its New Governance Strategy
TUNIS, Tunisia, December 13, 2013/African Press Organization (APO)/ – The African Development Bank (AfDB) (http://www.afdb.org) is organizing final technical consultations with representatives from across Africa on its new Governance Strategy for 2014-2018.
AfDB’s key stakeholders will discuss on Monday, December 16, 2013 how to further improve this strategy in terms of its strategic orientation and relevance in addressing Africa’s key governance challenges. This will also be an opportunity for development partners to discuss how best to work together in addressing governance challenges on the African continent.
Participants of this technical consultation, taking place in Tunis, Tunisia, include, among others, African Ministers of Finance, private sector players, civil society and other relevant regional and international development institutions. This consultation event is the final of a series of consultations that have taken place over the past year as well as online consultations.
AfDB’s new Governance Strategy builds on the achievements of its first “Governance Strategic Direction and Action Plan (GAP I)” for 2008-2012. In countries where the AfDB has provided support, governance indicators have shown steady improvements. According to the “Development Effectiveness Review on Governance”, published in 2012, across the 14 countries where the African Development Bank has invested in revenue systems, tax revenue has risen from 10.5 per cent to 14.7 per cent of GDP between 2005 and 2011, while tax rates for business have declined, from 94 per cent of commercial profits to 54 per cent for the same period.
The Governance Strategic Direction and Action Plan II is anchored on the AfDB’s Strategy for 2013-2022, whose overarching objective is to support Africa’s transformation agenda. The new Governance Strategy intends to build on the achievements of GAP I by deepening interventions notably in the areas of Public Financial Management, business-enabling environment and sector governance. “Our vision is that of an Africa governed by transparent, accountable and responsive governments with strong institutions that are capable of driving inclusive and sustainable growth,” said Isaac Lobe Ndoumbe, Director, Governance and Financial and Economic Reforms.
Through the consultations, the AfDB wants to ensure that the voice of all key stakeholders is taking into account in the final formulation of its new Governance Strategy.
The Tunis consultation event will be launched by AfDB Vice-President Aly Abou-Sabaa, in charge of Agriculture, Water, Human Development and Governance.
Distributed by APO (African Press Organization) on behalf of the African Development Bank (AfDB).
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About the African Development Bank Group
The African Development Bank Group (AfDB) (http://www.afdb.org) is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 33 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 53 regional member states.
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African Development Bank (AfDB)