African Development Bank to announce 2012 investment portfolio for Africa

Africa will soon know its investment portfolio from the African Development Bank (AfDB) for the year 2012 as the bank prepares to hold its 2011 Annual Meeting in Lisbon, the capital city of Portugal.

Themed “Towards an Agenda for Inclusive Growth in Africa,” the AfDB annual meeting “will review the Bank’s 2010 operations and its 2012 development funding portfolio for Africa”, a release on the bank’s website said on May 20, 2011.

Over the years, the Bank’s investment in Africa has focused on reducing poverty and inequality, and promoting sustainable growth.

According to the Bank, since 1967 to 2010, it has invested $84 billion into Africa through 3,526 approved loans and grants.

Expected to be attended by Finance Ministers, Central Bank Governors and Chief Executive Officers from 77 member countries, the release said the meeting will also tackle some challenges facing the African region in key areas such as climate change, infrastructure, private sector and governance.

Delegates representing other multilateral finance institutions, development agencies, private sector chief executives, non-governmental organisations, civil society organisations and the media will also attend the meetings

Other side events at the 2011 Annual Meetings include an African business leadership award, thematic expositions and civil society meetings, said the release.

The meeting begins from June 9 to10, 2011 but will be preceded by a number of seminars.

“From June 6, 2011, there will be a series of high-level seminars and other side events on the continent’s economic, social and political concerns, all of which highlight the importance of shared growth in development.”

By Ekow Quandzie