Mozambique: Maputo hosts annual meeting of African Development Bank

15 February 2008

Maputo, Mozambique, 15 Feb – Maputo is due to host the 43rd annual meeting of the African Development Bank (ADB) in May dedicated to the theme of “Boosting Shared Growth: Urbanization, Inequality and Poverty,” a government source said in Maputo Thursday.

The ADB meeting, to be held on 14 and 15 May, will take place at the same time as the 34th annual meeting of the council of governors of the Africa Development Fund (ADF).

These are the two most important annual meetings of the two institutions and 1,500 attendees are expected as well as finance ministers and governors of central banks from the institution’s 77 member states.

Mozambique’s involvement with the ADB has been growing since 1976 and the country has benefited from 70 partnership programs with the institution in areas such as infrastructure, development, water, roads and energy, estimated to total an investment of 891 million euros.

The ADB is also one of 19 countries and organizations that since 2004 have directly funded the Mozambican state budget.

The group also includes Germany, Belgium, Canada, Denmark, Spain, Finland, France, the Netherlands, Ireland, Italy, Portugal, the United Kingdom, Sweden and Switzerland, the World Bank and the European Commission.

Headquartered in Abidjan, in the Ivory Coast, and temporarily based in Tunisia, the ADB group, which includes the African Development Bank, the Africa Development Fund and the Nigerian Fiduciary Fund, was set up in 1964.(macauhub)