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    African leaders urge greater commitment to economic development


    International Trade Forum - Issue 1/2009 

    Africa and the Financial Crisis: An Agenda for Action' was the theme of the 44th Annual Meeting of the African Development Bank (AfDB) Group, held in Dakar, Senegal from 13-14 May. The Meeting, which also marked the Board of Governors Meeting of the African Development Fund, brought together more than 2000 participants from Africa and around the world.

    Setting the tone for the event, Senegalese President Adboulaye Wade called on deve-lopment institutions to utilize practical measures to improve economic development on the continent. He stressed that 'unity is power', advising African governments to strengthen collaboration so as to fight the global financial crisis and alleviate poverty.

    AfDB President Donald Kaberuka informed the Assembly that he had put in place a Financial Crisis Monitoring Group, to assess the challenges posed by the financial crisis and to make proposals. Commenting on the global economic crisis, Kaberuka said, 'No one can tell, with any degree of certainty, whether the worst for the global economy is over', but he expressed optimism 'that the long-term prospects for Africa are still very bright. I believe we can limit the damage and prepare for re-takeoff.'

    For more information visit www.afdb.org