African Development Bank to return to headquarters in Ivory Coast in 2014

The African Development Bank (AfDB) has announced that it will return to its permanent headquarters in Ivory Coast by the year 2014.

The announcement which was made during the Bank’s Annual Meeting in Lisbon, Portugal, follows the decision made by “Governors representing 53 regional and 24 non-regional member countries to endorse the decision of the Governors Consultative Committee (GCC) that the Bank´s temporary relocation period in Tunis shall be for a period of three years”.

“There would be 12-month notice periods after the Governors have taken a final decision to return to its headquarters in Cote d´Ivoire”, the AfDB indicated.

The Bank relocated its headquarters to Tunisia in 2003 following the conflict in Ivory Coast, which still remains the statutory headquarters.

The Governors of the Bank which is usually composed of member states’ finance and economy ministers or central Bank Governors and Chief Executive Officers (CEOs) also took a decision that “the 2012 annual meetings would take place in Arusha, Tanzania from May 31 to June 1, and in Marrakech, Morocco, from May 30-31, 2013”.

By Ekow Quandzie